Kodiak Gas Services (NYSE:KGS) Now Covered by Redburn Atlantic

Redburn Atlantic assumed coverage on shares of Kodiak Gas Services (NYSE:KGS) in a research report report published on Thursday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $35.00 target price on the stock.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada lifted their price objective on Kodiak Gas Services from $30.00 to $31.00 and gave the company an outperform rating in a research note on Wednesday, August 21st. Truist Financial boosted their price target on Kodiak Gas Services from $32.00 to $35.00 and gave the company a buy rating in a report on Thursday, August 15th. Barclays initiated coverage on shares of Kodiak Gas Services in a research note on Wednesday, July 17th. They set an equal weight rating and a $29.00 price objective on the stock. Stifel Nicolaus boosted their target price on shares of Kodiak Gas Services from $31.00 to $35.00 and gave the company a buy rating in a research note on Wednesday, August 14th. Finally, Bank of America initiated coverage on shares of Kodiak Gas Services in a research report on Wednesday, September 18th. They set a buy rating and a $30.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $31.78.

Kodiak Gas Services Price Performance

Shares of NYSE:KGS opened at $29.58 on Thursday. The company has a current ratio of 1.05, a quick ratio of 0.70 and a debt-to-equity ratio of 1.70. Kodiak Gas Services has a twelve month low of $16.72 and a twelve month high of $29.91. The company’s 50 day moving average is $27.38 and its 200 day moving average is $27.12. The company has a market cap of $2.49 billion, a PE ratio of 33.61 and a beta of 0.89.

Kodiak Gas Services (NYSE:KGS) last issued its earnings results on Monday, August 12th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.29). The business had revenue of $309.65 million for the quarter, compared to analysts’ expectations of $313.88 million. Kodiak Gas Services had a return on equity of 7.20% and a net margin of 5.23%. On average, sell-side analysts forecast that Kodiak Gas Services will post 1.15 EPS for the current year.

Kodiak Gas Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 5.54%. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.38. The ex-dividend date was Monday, August 12th. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 186.36%.

Institutional Trading of Kodiak Gas Services

Institutional investors and hedge funds have recently modified their holdings of the stock. Security National Bank acquired a new position in Kodiak Gas Services in the 2nd quarter valued at $39,000. HWG Holdings LP purchased a new position in shares of Kodiak Gas Services in the second quarter worth about $40,000. PNC Financial Services Group Inc. acquired a new position in Kodiak Gas Services during the fourth quarter worth about $46,000. nVerses Capital LLC grew its stake in Kodiak Gas Services by 90.9% during the 2nd quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock valued at $57,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Parallel Advisors LLC acquired a new stake in Kodiak Gas Services in the 4th quarter valued at about $60,000. Hedge funds and other institutional investors own 24.95% of the company’s stock.

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.