Kodiak Gas Services (NYSE:KGS) Price Target Raised to $35.00

Kodiak Gas Services (NYSE:KGS) had its target price boosted by Royal Bank of Canada from $31.00 to $35.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on KGS. Stifel Nicolaus increased their target price on shares of Kodiak Gas Services from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Redburn Atlantic started coverage on shares of Kodiak Gas Services in a report on Thursday, September 19th. They set a “buy” rating and a $35.00 price objective for the company. Bank of America began coverage on 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. Citigroup assumed coverage on Kodiak Gas Services in a research report on Friday, September 27th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, Barclays increased their target price on Kodiak Gas Services from $29.00 to $32.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Kodiak Gas Services presently has an average rating of “Moderate Buy” and an average target price of $33.09.

Kodiak Gas Services Trading Down 0.9 %

KGS stock opened at $31.12 on Wednesday. Kodiak Gas Services has a 1-year low of $16.72 and a 1-year high of $32.77. The company has a current ratio of 1.05, a quick ratio of 0.70 and a debt-to-equity ratio of 1.70. The business’s 50 day moving average is $28.46 and its 200-day moving average is $27.70. The firm has a market cap of $2.62 billion, a P/E ratio of 35.36 and a beta of 0.89.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings results on Monday, August 12th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). Kodiak Gas Services had a net margin of 5.23% and a return on equity of 7.20%. The company had revenue of $309.65 million during the quarter, compared to the consensus estimate of $313.88 million. Equities analysts anticipate that Kodiak Gas Services will post 1.15 earnings per share for the current fiscal year.

Kodiak Gas Services Increases Dividend

The company 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 is a boost from Kodiak Gas Services’s previous quarterly dividend of $0.38. This represents a $1.64 annualized dividend and a yield of 5.27%. The ex-dividend date of this dividend was Monday, August 12th. Kodiak Gas Services’s payout ratio is currently 186.36%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its holdings 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 buying an additional 215,570 shares during the period. HITE Hedge Asset Management LLC boosted its position in shares of Kodiak Gas Services by 74.8% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 780,600 shares of the company’s stock worth $21,279,000 after purchasing an additional 334,086 shares during the last quarter. Blackstone Inc. grew its stake in shares of Kodiak Gas Services by 1,358.3% during the first quarter. Blackstone Inc. now owns 644,231 shares of the company’s stock worth $17,613,000 after purchasing an additional 600,055 shares during the period. American Century Companies Inc. increased its holdings in Kodiak Gas Services by 63.2% in the second quarter. American Century Companies Inc. now owns 575,371 shares of the company’s stock valued at $15,685,000 after purchasing an additional 222,830 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Kodiak Gas Services by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 542,281 shares of the company’s stock valued at $14,783,000 after buying an additional 7,640 shares during the period. 24.95% of the stock is currently owned by institutional investors and hedge funds.

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.