Kodiak Gas Services, Inc. (NYSE:KGS) Receives $78.89 Average PT from Brokerages

Kodiak Gas Services, Inc. (NYSE:KGS) has earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $78.8889.

KGS has been the topic of a number of analyst reports. Stifel Nicolaus lifted their target price on shares of Kodiak Gas Services from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Jefferies Financial Group cut their price target on shares of Kodiak Gas Services from $79.00 to $69.00 and set a “buy” rating for the company in a research report on Monday, August 10th. The Goldman Sachs Group raised their price objective on Kodiak Gas Services from $69.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Piper Sandler initiated coverage on Kodiak Gas Services in a report on Tuesday, July 28th. They issued an “overweight” rating and a $78.00 price objective on the stock. Finally, Royal Bank Of Canada boosted their target price on Kodiak Gas Services from $84.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th.

Kodiak Gas Services Stock Down 3.6%

Shares of KGS opened at $59.25 on Friday. Kodiak Gas Services has a 1 year low of $32.55 and a 1 year high of $77.68. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.45 and a quick ratio of 1.15. The stock has a 50 day simple moving average of $64.99 and a two-hundred day simple moving average of $62.71. The firm has a market cap of $5.99 billion, a P/E ratio of 70.54, a P/E/G ratio of 0.89 and a beta of 0.98.

Kodiak Gas Services (NYSE:KGS) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.12). Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%.The business had revenue of $391.12 million for the quarter, compared to analysts’ expectations of $386.30 million. During the same period last year, the business posted $0.43 earnings per share. The company’s revenue was up 21.2% compared to the same quarter last year. On average, analysts forecast that Kodiak Gas Services will post 2.46 earnings per share for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Monday, August 17th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, August 17th. Kodiak Gas Services’s payout ratio is 233.33%.

Insiders Place Their Bets

In other news, COO William Chad Lenamon sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $67.79, for a total value of $67,790.00. Following the transaction, the chief operating officer owned 87,294 shares in the company, valued at approximately $5,917,660.26. This trade represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pedro R. Buhigas sold 4,625 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $67.78, for a total transaction of $313,482.50. Following the completion of the transaction, the insider owned 38,454 shares in the company, valued at $2,606,412.12. This represents a 10.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 19,531 shares of company stock worth $1,296,158. 0.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kodiak Gas Services

Several institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its holdings in Kodiak Gas Services by 8,307.7% in the 2nd quarter. California State Teachers Retirement System now owns 8,441,006 shares of the company’s stock worth $634,173,000 after acquiring an additional 8,340,610 shares during the last quarter. Greenland Capital Management LP bought a new position in shares of Kodiak Gas Services during the second quarter valued at about $751,000. Compass Financial Management LLC bought a new position in shares of Kodiak Gas Services during the second quarter valued at about $260,000. Nykredit A S purchased a new stake in shares of Kodiak Gas Services during the second quarter worth about $309,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Kodiak Gas Services by 151.1% during the second quarter. Van ECK Associates Corp now owns 98,146 shares of the company’s stock worth $7,374,000 after purchasing an additional 59,062 shares during the period. Hedge funds and other institutional investors own 24.95% of the company’s stock.

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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.