Kodiak Gas Services (NYSE:KGS) Shares Gap Down – What’s Next?

Kodiak Gas Services, Inc. (NYSE:KGS)’s share price gapped down before the market opened on Friday . The stock had previously closed at $49.66, but opened at $47.75. Kodiak Gas Services shares last traded at $47.54, with a volume of 378,117 shares traded.

Wall Street Analyst Weigh In

KGS has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on Kodiak Gas Services from $34.00 to $42.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Truist Financial boosted their price objective on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Raymond James upped their price target on shares of Kodiak Gas Services from $35.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Barclays upped their price target on shares of Kodiak Gas Services from $32.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Finally, Citigroup upped their price target on shares of Kodiak Gas Services from $41.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.36.

Kodiak Gas Services Trading Down 4.0 %

The company’s 50 day moving average price is $42.75 and its 200 day moving average price is $34.29. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 164.20 and a beta of 1.15. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.93 and a current ratio of 1.27.

Insider Activity at Kodiak Gas Services

In related news, insider Ewan William Hamilton sold 3,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 31,745 shares of the company’s stock, valued at $1,284,085.25. This represents a 8.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kodiak Gas Services

A number of hedge funds have recently modified their holdings of KGS. FMR LLC grew its position in Kodiak Gas Services by 444.4% in the third quarter. FMR LLC now owns 4,889,804 shares of the company’s stock valued at $141,804,000 after acquiring an additional 3,991,630 shares during the period. Wellington Management Group LLP acquired a new position in Kodiak Gas Services during the third quarter worth $44,558,000. Zimmer Partners LP raised its stake in Kodiak Gas Services by 313.0% during the third quarter. Zimmer Partners LP now owns 1,779,851 shares of the company’s stock worth $51,616,000 after acquiring an additional 1,348,899 shares in the last quarter. Augustine Asset Management Inc. raised its stake in Kodiak Gas Services by 1,761.2% during the fourth quarter. Augustine Asset Management Inc. now owns 640,244 shares of the company’s stock worth $26,141,000 after acquiring an additional 605,844 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in Kodiak Gas Services during the third quarter worth $9,741,000. 24.95% of the stock is 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.