Kodiak Gas Services, Inc. (NYSE:KGS) Short Interest Up 15.4% in March

Kodiak Gas Services, Inc. (NYSE:KGS - Get Free Report) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 2,100,000 shares, a growth of 15.4% from the March 15th total of 1,820,000 shares. Based on an average daily volume of 463,100 shares, the short-interest ratio is presently 4.5 days. Currently, 11.9% of the company's stock are short sold.

Kodiak Gas Services Trading Down 2.0 %

Shares of KGS traded down $0.55 during midday trading on Friday, reaching $26.93. 487,672 shares of the stock were exchanged, compared to its average volume of 572,071. Kodiak Gas Services has a twelve month low of $15.05 and a twelve month high of $29.00. The company has a quick ratio of 0.73, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The stock's 50 day simple moving average is $25.91 and its 200 day simple moving average is $21.48.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its earnings results on Wednesday, March 6th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). The firm had revenue of $225.98 million during the quarter, compared to the consensus estimate of $224.45 million. As a group, equities research analysts predict that Kodiak Gas Services will post 1.82 earnings per share for the current year.

Kodiak Gas Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 16th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date of this dividend was Thursday, February 15th.

Insider Activity

In other news, Director Margaret C. Montana bought 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 12th. The stock was acquired at an average cost of $25.25 per share, with a total value of $50,500.00. Following the completion of the purchase, the director now owns 16,375 shares of the company's stock, valued at $413,468.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kodiak Gas Services

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Citadel Advisors LLC acquired a new position in Kodiak Gas Services in the second quarter valued at about $23,706,000. Zimmer Partners LP acquired a new position in Kodiak Gas Services in the second quarter valued at about $21,112,000. Goldman Sachs Group Inc. raised its stake in Kodiak Gas Services by 20.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,279,636 shares of the company's stock valued at $25,695,000 after purchasing an additional 215,570 shares in the last quarter. Vanguard Group Inc. raised its stake in Kodiak Gas Services by 15.5% in the fourth quarter. Vanguard Group Inc. now owns 1,117,752 shares of the company's stock valued at $22,444,000 after purchasing an additional 149,953 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Kodiak Gas Services by 1.0% in the third quarter. Invesco Ltd. now owns 1,009,550 shares of the company's stock valued at $18,051,000 after purchasing an additional 9,550 shares in the last quarter. Institutional investors and hedge funds own 24.95% of the company's stock.

Wall Street Analyst Weigh In

KGS has been the subject of several analyst reports. The Goldman Sachs Group raised their target price on shares of Kodiak Gas Services from $27.00 to $31.00 and gave the company a "buy" rating in a research note on Wednesday. Raymond James lifted their price objective on shares of Kodiak Gas Services from $23.00 to $25.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 30th. JPMorgan Chase & Co. lifted their price objective on shares of Kodiak Gas Services from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Thursday, March 21st. Finally, Truist Financial reduced their price objective on shares of Kodiak Gas Services from $25.00 to $23.00 and set a "buy" rating for the company in a research report on Wednesday, December 20th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $25.14.

About Kodiak Gas Services

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.

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