Kodiak Gas Services (NYSE:KGS) Price Target Raised to $40.00 at Royal Bank of Canada

Kodiak Gas Services (NYSE:KGS) had its price target raised by Royal Bank of Canada from $35.00 to $40.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Bank of America began coverage on Kodiak Gas Services in a report on Wednesday, September 18th. They set a “buy” rating and a $30.00 price objective for the company. Citigroup initiated coverage on Kodiak Gas Services in a research note on Friday, September 27th. They issued a “buy” rating and a $35.00 price target for the company. Truist Financial increased their price objective on Kodiak Gas Services from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Barclays boosted their target price on shares of Kodiak Gas Services from $29.00 to $32.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, Stifel Nicolaus raised their price target 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. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.64.

Kodiak Gas Services Stock Performance

KGS opened at $35.77 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 1.86. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 123.35 and a beta of 0.79. Kodiak Gas Services has a 12-month low of $17.50 and a 12-month high of $36.99. The business has a 50 day moving average of $30.78 and a 200-day moving average of $28.43.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings data on Monday, August 12th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.29). Kodiak Gas Services had a net margin of 2.23% and a return on equity of 7.91%. The company had revenue of $309.65 million during the quarter, compared to the consensus estimate of $313.88 million. On average, equities research analysts expect that Kodiak Gas Services will post 1.21 earnings per share for the current year.

Kodiak Gas Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.58%. Kodiak Gas Services’s payout ratio is 565.54%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KGS. Quadrature Capital Ltd raised its holdings in shares of Kodiak Gas Services by 3.4% during the 1st quarter. Quadrature Capital Ltd now owns 27,642 shares of the company’s stock worth $756,000 after buying an additional 906 shares in the last quarter. Wellington Shields & Co. LLC grew its position in Kodiak Gas Services by 16.7% during the 2nd quarter. Wellington Shields & Co. LLC now owns 7,000 shares of the company’s stock worth $191,000 after acquiring an additional 1,000 shares during the last quarter. nVerses Capital LLC increased its holdings in Kodiak Gas Services by 90.9% in the 2nd quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock worth $57,000 after purchasing an additional 1,000 shares in the last quarter. Dark Forest Capital Management LP increased its holdings in Kodiak Gas Services by 5.9% in the 2nd quarter. Dark Forest Capital Management LP now owns 20,894 shares of the company’s stock worth $570,000 after purchasing an additional 1,164 shares in the last quarter. Finally, Security National Bank acquired a new stake in shares of Kodiak Gas Services during the second quarter valued at about $39,000. 24.95% of the stock is 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.