Kodiak Gas Services, Inc. (NYSE:KGS) Short Interest Update

Key Points

• Kodiak Gas Services experienced a significant increase in short interest, rising 22.3% in August to a total of 10.3 million shares, equating to approximately 18.8% of its shares sold short.
• Institutional investors, including Invesco and Goldman Sachs, have increased their holdings in Kodiak Gas Services, with institutional ownership currently at 24.95%.
• The company recently announced a quarterly dividend of $0.45 per share, with an annualized yield of 5.3%, and a share buyback program valued at $50 million.

Kodiak Gas Services, Inc. (NYSE:KGS - Get Free Report) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 10,300,000 shares, a growth of 22.3% from the August 15th total of 8,420,000 shares. Approximately 18.8% of the company's shares are short sold. Based on an average trading volume of 1,650,000 shares, the short-interest ratio is presently 6.2 days. Based on an average trading volume of 1,650,000 shares, the short-interest ratio is presently 6.2 days. Approximately 18.8% of the company's shares are short sold.

Hedge Funds Weigh In On Kodiak Gas Services

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. increased its position in shares of Kodiak Gas Services by 59.9% in the 2nd quarter. Invesco Ltd. now owns 4,869,346 shares of the company's stock valued at $166,872,000 after acquiring an additional 1,824,407 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in Kodiak Gas Services during the 1st quarter valued at about $40,648,000. Goldman Sachs Group Inc. increased its holdings in shares of Kodiak Gas Services by 58.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,983,360 shares of the company's stock valued at $73,979,000 after purchasing an additional 730,180 shares during the period. Think Investments LP purchased a new position in shares of Kodiak Gas Services in the first quarter worth about $23,678,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Kodiak Gas Services by 2,201.6% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 617,151 shares of the company's stock worth $21,150,000 after purchasing an additional 590,337 shares during the period. 24.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KGS has been the subject of a number of research reports. Mizuho boosted their price target on Kodiak Gas Services from $45.00 to $47.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Royal Bank Of Canada increased their price target on Kodiak Gas Services from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 13th. Zacks Research downgraded Kodiak Gas Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 10th. Barclays raised their target price on shares of Kodiak Gas Services from $36.00 to $37.00 and gave the company an "equal weight" rating in a research report on Thursday, August 14th. Finally, JPMorgan Chase & Co. reiterated a "buy" rating and set a $43.00 price objective (up from $42.00) on shares of Kodiak Gas Services in a research note on Monday, June 23rd. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Kodiak Gas Services currently has an average rating of "Moderate Buy" and an average price target of $43.50.

Kodiak Gas Services Stock Up 1.9%

Shares of NYSE KGS traded up $0.63 during trading hours on Monday, hitting $33.89. 1,038,625 shares of the stock were exchanged, compared to its average volume of 2,096,789. Kodiak Gas Services has a 12 month low of $28.37 and a 12 month high of $50.43. The firm has a fifty day moving average price of $33.60 and a 200-day moving average price of $34.40. The company has a quick ratio of 0.78, a current ratio of 1.10 and a debt-to-equity ratio of 1.89. The company has a market cap of $2.94 billion, a PE ratio of 37.66 and a beta of 1.34.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. The company had revenue of $322.84 million during the quarter, compared to the consensus estimate of $335.10 million. Kodiak Gas Services had a net margin of 6.48% and a return on equity of 10.35%. Kodiak Gas Services's revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $0.06 earnings per share. On average, sell-side analysts expect that Kodiak Gas Services will post 1.12 EPS for the current year.

Kodiak Gas Services announced that its Board of Directors has authorized a share buyback program on Monday, August 11th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 1.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Kodiak Gas Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 4th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Monday, August 4th. Kodiak Gas Services's dividend payout ratio (DPR) is currently 200.00%.

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.