Kodiak Gas Services (NYSE:KGS) Hits New 1-Year High Following Analyst Upgrade

Kodiak Gas Services, Inc. (NYSE:KGS - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday after Royal Bank of Canada raised their price target on the stock from $28.00 to $30.00. Royal Bank of Canada currently has an outperform rating on the stock. Kodiak Gas Services traded as high as $29.43 and last traded at $29.15, with a volume of 39497 shares. The stock had previously closed at $28.49.

A number of other analysts also recently commented on KGS. The Goldman Sachs Group boosted their price objective on shares of Kodiak Gas Services from $27.00 to $31.00 and gave the stock a "buy" rating in a report on Wednesday, April 10th. Truist Financial boosted their price objective on shares of Kodiak Gas Services from $28.00 to $32.00 and gave the stock a "buy" rating in a report on Friday, May 10th. Raymond James boosted their price objective on shares of Kodiak Gas Services from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Kodiak Gas Services from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Thursday, March 21st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $28.14.

Insider Buying and Selling at Kodiak Gas Services

In other Kodiak Gas Services news, Director Margaret C. Montana purchased 2,000 shares of Kodiak Gas Services stock in a transaction on Tuesday, March 12th. The shares were bought at an average price of $25.25 per share, with a total value of $50,500.00. Following the completion of the acquisition, the director now directly owns 16,375 shares of the company's stock, valued at $413,468.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Kodiak Gas Services

Several institutional investors and hedge funds have recently modified their holdings of the company. Walleye Capital LLC acquired a new position in Kodiak Gas Services during the third quarter worth approximately $3,374,000. Vanguard Group Inc. raised its stake in Kodiak Gas Services by 504.9% during the third quarter. Vanguard Group Inc. now owns 967,799 shares of the company's stock worth $17,304,000 after purchasing an additional 807,799 shares during the period. Boston Partners raised its stake in Kodiak Gas Services by 51.8% during the third quarter. Boston Partners now owns 91,998 shares of the company's stock worth $1,645,000 after purchasing an additional 31,385 shares during the period. Jump Financial LLC purchased a new position in Kodiak Gas Services during the third quarter worth approximately $1,252,000. Finally, Strs Ohio purchased a new position in Kodiak Gas Services during the third quarter worth approximately $57,000. Hedge funds and other institutional investors own 24.95% of the company's stock.

Kodiak Gas Services Stock Performance

The company has a quick ratio of 0.76, a current ratio of 1.11 and a debt-to-equity ratio of 1.60. The company has a market cap of $2.44 billion and a PE ratio of 32.91. The stock's 50 day simple moving average is $27.29 and its two-hundred day simple moving average is $23.31.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.03. Kodiak Gas Services had a net margin of 7.15% and a return on equity of 7.33%. The company had revenue of $215.50 million for the quarter, compared to the consensus estimate of $220.55 million. The company's quarterly revenue was up 13.4% on a year-over-year basis. As a group, research analysts anticipate that Kodiak Gas Services, Inc. will post 1.83 earnings per share for the current year.

Kodiak Gas Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 5.25%. The ex-dividend date of this dividend is Friday, May 10th. Kodiak Gas Services's dividend payout ratio is currently 172.73%.

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.