Kodiak Gas Services (NYSE:KGS) Sees Strong Trading Volume - Here's Why

Key Points

• Kodiak Gas Services saw unusually strong trading volume, with about 1.87 million shares changing hands, while the stock fell about 2.1% to $73.77.
• The company beat quarterly expectations, reporting $0.59 EPS versus $0.54 expected and revenue of $345.76 million, up 4.9% year over year.
• Analysts remain broadly positive, with seven Buy ratings and two Hold ratings, alongside a consensus Moderate Buy rating and average price target of $64.29.

Kodiak Gas Services, Inc. (NYSE:KGS - Get Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 1,874,085 shares were traded during trading, an increase of 28% from the previous session's volume of 1,459,617 shares.The stock last traded at $73.7710 and had previously closed at $75.74.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on KGS shares. Zacks Research raised shares of Kodiak Gas Services from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 6th. Stifel Nicolaus set a $84.00 price objective on shares of Kodiak Gas Services in a research report on Tuesday. Citigroup increased their price objective on shares of Kodiak Gas Services from $63.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday. The Goldman Sachs Group raised their price target on shares of Kodiak Gas Services from $60.00 to $69.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Finally, Royal Bank Of Canada raised their price target on shares of Kodiak Gas Services from $45.00 to $64.00 and gave the stock an "outperform" rating in a research report on Thursday, March 19th. Seven research 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $64.29.

Kodiak Gas Services Trading Down 2.1%

The stock has a market cap of $6.58 billion, a price-to-earnings ratio of 100.16, a P/E/G ratio of 1.09 and a beta of 1.01. The business's fifty day simple moving average is $61.54 and its 200 day simple moving average is $47.26. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.28 and a quick ratio of 0.57.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.05. The firm 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%. The firm's revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 earnings per share. On average, research analysts predict that Kodiak Gas Services, Inc. will post 2.26 EPS for the current year.

Kodiak Gas Services Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, May 18th. Kodiak Gas Services's dividend payout ratio (DPR) is presently 264.86%.

Insider Buying and Selling

In related news, Director Alexander Newsom Darden acquired 5,000 shares of the business's stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $54.75 per share, for a total transaction of $273,750.00. Following the completion of the purchase, the director directly owned 5,000 shares in the company, valued at $273,750. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Ewan William Hamilton sold 5,797 shares of Kodiak Gas Services stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $56.18, for a total transaction of $325,675.46. Following the sale, the chief accounting officer owned 34,346 shares in the company, valued at approximately $1,929,558.28. This represents a 14.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders purchased 11,433 shares of company stock valued at $624,360 and sold 58,673 shares valued at $3,269,110. 0.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kodiak Gas Services

Several hedge funds and other institutional investors have recently bought and sold shares of KGS. Nisa Investment Advisors LLC raised its position 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 worth $40,000 after acquiring an additional 364 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Kodiak Gas Services by 1,501.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company's stock worth $42,000 after purchasing an additional 1,156 shares in the last quarter. State of Wyoming increased its stake in Kodiak Gas Services by 201.7% in the 4th quarter. State of Wyoming now owns 1,219 shares of the company's stock worth $46,000 after purchasing an additional 815 shares in the last quarter. GAMMA Investing LLC increased its stake in Kodiak Gas Services by 80.3% in the 4th 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. increased its stake in Kodiak Gas Services by 80.4% in the 3rd 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. 24.95% of the stock is currently owned by institutional investors.

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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