Kodiak Gas Services, Inc. (NYSE:KGS) Sees Large Growth in Short Interest

Kodiak Gas Services, Inc. (NYSE:KGS - Get Free Report) was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 6,400,000 shares, a growth of 20.1% from the April 30th total of 5,330,000 shares. Based on an average daily volume of 1,120,000 shares, the days-to-cover ratio is currently 5.7 days. Approximately 11.9% of the company's stock are short sold.

Institutional Investors Weigh In On Kodiak Gas Services

Several hedge funds have recently added to or reduced their stakes in the business. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Kodiak Gas Services by 1.6% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 32,400 shares of the company's stock valued at $1,323,000 after buying an additional 500 shares during the period. Entropy Technologies LP purchased a new stake in Kodiak Gas Services in the 4th quarter worth approximately $998,000. Kestra Private Wealth Services LLC grew its stake in shares of Kodiak Gas Services by 57.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 18,634 shares of the company's stock worth $761,000 after purchasing an additional 6,818 shares during the period. Augustine Asset Management Inc. grew its stake in shares of Kodiak Gas Services by 1,761.2% during the 4th quarter. Augustine Asset Management Inc. now owns 640,244 shares of the company's stock worth $26,141,000 after purchasing an additional 605,844 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Kodiak Gas Services by 53.2% during the 4th quarter. Rhumbline Advisers now owns 44,042 shares of the company's stock worth $1,798,000 after purchasing an additional 15,285 shares during the period. 24.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on KGS. Raymond James reiterated an "outperform" rating on shares of Kodiak Gas Services in a report on Friday, March 7th. Royal Bank of Canada set a $45.00 price target on shares of Kodiak Gas Services and gave the company an "outperform" rating in a research report on Tuesday, March 11th. Mizuho decreased their price target on shares of Kodiak Gas Services from $46.00 to $45.00 and set an "outperform" rating for the company in a research report on Tuesday, May 20th. Truist Financial increased their price target on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. Finally, Barclays reduced their price target on Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kodiak Gas Services presently has an average rating of "Moderate Buy" and an average price target of $40.55.

Kodiak Gas Services Stock Performance

KGS traded up $0.59 on Friday, reaching $37.03. 590,531 shares of the stock were exchanged, compared to its average volume of 866,198. The company's 50-day moving average price is $34.53 and its 200 day moving average price is $39.41. Kodiak Gas Services has a fifty-two week low of $24.84 and a fifty-two week high of $50.43. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.27 and a quick ratio of 0.93. The firm has a market capitalization of $3.28 billion, a PE ratio of 127.68 and a beta of 1.48.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.03. Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. The company had revenue of $329.64 million during the quarter, compared to analysts' expectations of $328.45 million. During the same quarter in the previous year, the firm posted $0.39 EPS. The firm's revenue was up 52.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Kodiak Gas Services will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, May 5th. This is an increase from Kodiak Gas Services's previous quarterly dividend of $0.41. This represents a $1.80 dividend on an annualized basis and a yield of 4.86%. Kodiak Gas Services's payout ratio is currently 339.62%.

Kodiak Gas Services Company Profile

Kodiak Gas Services, Inc operates contract compression infrastructure for customers in the oil and gas industry in the United States. It operates in two segments, Compression Operations and Other Services. The Compression Operations segment operates company-owned and customer-owned compression infrastructure to enable the production, gathering, and transportation of natural gas and oil.