Kodiak Gas Services (NYSE:KGS) Hits New 52-Week High - What's Next?

Key Points

• Kodiak Gas Services (NYSE:KGS) hit a new 52-week high, trading as high as $77.68 as investors pushed the stock above its previous close of $75.89.
• Analysts have turned increasingly bullish, with major firms including Citigroup and Goldman Sachs raising price targets to $86 and $88, respectively; the consensus rating remains Moderate Buy.
• The company recently beat quarterly expectations, reporting $0.59 EPS versus $0.54 expected and revenue of $345.76 million, while also declaring a quarterly dividend of $0.49 per share.

Kodiak Gas Services, Inc. (NYSE:KGS - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $77.68 and last traded at $76.7420, with a volume of 103960 shares. The stock had previously closed at $75.89.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Citigroup boosted their target price on shares of Kodiak Gas Services from $63.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, May 13th. The Goldman Sachs Group boosted their target price on shares of Kodiak Gas Services from $69.00 to $88.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Barclays boosted their target price on shares of Kodiak Gas Services from $49.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, March 5th. Mizuho boosted their price target on shares of Kodiak Gas Services from $36.00 to $44.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 20th. Finally, Zacks Research raised shares of Kodiak Gas Services from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 6th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $69.86.

Kodiak Gas Services Stock Performance

The company has a debt-to-equity ratio of 2.38, a current ratio of 1.28 and a quick ratio of 0.99. The firm has a market capitalization of $6.56 billion, a P/E ratio of 99.82 and a beta of 1.01. The stock's 50 day moving average is $62.98 and its two-hundred day moving average is $48.36.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.05. The business had revenue of $345.76 million during the quarter, compared to the consensus estimate of $340.23 million. Kodiak Gas Services had a net margin of 5.13% and a return on equity of 13.12%. Kodiak Gas Services's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 earnings per share. As a group, equities analysts anticipate that Kodiak Gas Services, Inc. will post 2.35 earnings per share for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Monday, May 18th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, May 18th. Kodiak Gas Services's dividend payout ratio is presently 264.86%.

Insider Transactions at Kodiak Gas Services

In other Kodiak Gas Services news, insider Pedro R. Buhigas sold 13,942 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $55.73, for a total value of $776,987.66. Following the completion of the sale, the insider owned 42,723 shares of the company's stock, valued at approximately $2,380,952.79. This represents a 24.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ewan William Hamilton sold 5,797 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $56.18, for a total transaction of $325,675.46. Following the completion of the sale, the chief accounting officer directly owned 34,346 shares of the company's stock, valued at $1,929,558.28. The trade was a 14.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have purchased 11,433 shares of company stock valued at $624,360 and have sold 58,673 shares valued at $3,269,110. Company insiders own 0.64% of the company's stock.

Institutional Investors Weigh In On Kodiak Gas Services

Large investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake in Kodiak Gas Services by 52.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,062 shares of the company's stock valued at $40,000 after purchasing an additional 364 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Kodiak Gas Services by 1,501.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company's stock valued at $42,000 after buying an additional 1,156 shares during the period. State of Wyoming boosted its holdings in shares of Kodiak Gas Services by 201.7% in the fourth quarter. State of Wyoming now owns 1,219 shares of the company's stock valued at $46,000 after buying an additional 815 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Kodiak Gas Services by 80.3% in the fourth quarter. GAMMA Investing LLC now owns 1,248 shares of the company's stock valued at $47,000 after buying an additional 556 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Kodiak Gas Services by 80.4% in the third quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company's stock valued at $54,000 after buying an additional 646 shares during the period. Institutional investors own 24.95% of the company's stock.

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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.

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