Kodiak Gas Services (NYSE:KGS) Hits New 12-Month High – Here’s Why

Shares of Kodiak Gas Services, Inc. (NYSE:KGS) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $42.49 and last traded at $42.09, with a volume of 5808 shares changing hands. The stock had previously closed at $41.66.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Truist Financial upped their price objective on Kodiak Gas Services from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, November 8th. JPMorgan Chase & Co. upped their price target on shares of Kodiak Gas Services from $34.00 to $42.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Barclays increased 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 note on Monday, October 7th. Raymond James upped their price target on Kodiak Gas Services from $35.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Bank of America started coverage on Kodiak Gas Services in a research note on Wednesday, September 18th. They set a “buy” rating and a $30.00 price objective for the company. 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, the company currently has an average rating of “Moderate Buy” and an average target price of $37.09.

Kodiak Gas Services Trading Up 5.2 %

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 firm has a market cap of $3.84 billion, a price-to-earnings ratio of 143.69 and a beta of 1.13. The company has a 50-day moving average price of $35.09 and a 200 day moving average price of $30.00.

Kodiak Gas Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, November 1st were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date was Friday, November 1st. Kodiak Gas Services’s dividend payout ratio (DPR) is 565.54%.

Insider Buying and Selling at Kodiak Gas Services

In other Kodiak Gas Services news, insider Ewan William Hamilton sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $40.45, for a total value of $121,350.00. Following the completion of the sale, the insider now directly owns 31,745 shares of the company’s stock, valued at $1,284,085.25. The trade was a 8.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Kodiak Gas Services

Institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its position in Kodiak Gas Services by 444.4% during the third quarter. FMR LLC now owns 4,889,804 shares of the company’s stock worth $141,804,000 after purchasing an additional 3,991,630 shares during the period. Zimmer Partners LP lifted its position in shares of Kodiak Gas Services by 313.0% during the 3rd quarter. Zimmer Partners LP now owns 1,779,851 shares of the company’s stock worth $51,616,000 after purchasing an additional 1,348,899 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Kodiak Gas Services in the third quarter valued at approximately $44,558,000. HITE Hedge Asset Management LLC increased its holdings in shares of Kodiak Gas Services by 74.8% during 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 period. Finally, State Street Corp grew its position in Kodiak Gas Services by 8.7% during the third quarter. State Street Corp now owns 678,925 shares of the company’s stock worth $19,689,000 after buying an additional 54,202 shares in the last quarter. 24.95% of the stock is currently 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.