JPMorgan Chase & Co. Issues Pessimistic Forecast for Kodiak Gas Services (NYSE:KGS) Stock Price

Kodiak Gas Services (NYSE:KGS) had its price target dropped by research analysts at JPMorgan Chase & Co. from $79.00 to $78.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 45.59% from the stock’s previous close.

A number of other brokerages also recently commented on KGS. Jefferies Financial Group decreased their target price on Kodiak Gas Services from $69.00 to $65.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank Of Canada lifted their price target on shares of Kodiak Gas Services from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. Piper Sandler started coverage on shares of Kodiak Gas Services in a research report on Tuesday, July 28th. They set an “overweight” rating and a $78.00 price objective on the stock. Stifel Nicolaus upped their price objective on shares of Kodiak Gas Services from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kodiak Gas Services in a research report on Wednesday, August 26th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Kodiak Gas Services has an average rating of “Moderate Buy” and an average target price of $77.90.

Kodiak Gas Services Trading Down 1.9%

NYSE:KGS traded down $1.06 during mid-day trading on Thursday, reaching $53.58. 1,926,947 shares of the company’s stock traded hands, compared to its average volume of 1,712,452. The company has a 50 day moving average price of $58.79 and a 200-day moving average price of $63.78. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 63.78 and a beta of 1.01. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.45 and a quick ratio of 1.15. Kodiak Gas Services has a 12-month low of $32.55 and a 12-month high of $77.68.

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

Insiders Place Their Bets

In other Kodiak Gas Services news, COO William Lenamon sold 1,000 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $63.21, for a total transaction of $63,210.00. Following the completion of the transaction, the chief operating officer owned 85,294 shares of the company’s stock, valued at approximately $5,391,433.74. This trade represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Pedro Buhigas sold 3,663 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $58.14, for a total value of $212,966.82. Following the transaction, the insider directly owned 32,413 shares of the company’s stock, valued at $1,884,491.82. This represents a 10.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 20,336 shares of company stock worth $1,218,437. 0.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of KGS. BlackRock Inc. bought a new stake in Kodiak Gas Services during the second quarter worth about $1,142,139,000. Dimensional Fund Advisors LP increased its stake in shares of Kodiak Gas Services by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,105,555 shares of the company’s stock valued at $181,108,000 after purchasing an additional 135,998 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Kodiak Gas Services by 85.0% during the second quarter. Wellington Management Group LLP now owns 2,432,174 shares of the company’s stock valued at $182,729,000 after purchasing an additional 1,117,743 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Kodiak Gas Services by 16.6% during the first quarter. Bank of America Corp DE now owns 1,537,818 shares of the company’s stock valued at $89,686,000 after purchasing an additional 219,214 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP bought a new stake in shares of Kodiak Gas Services in the 2nd quarter worth approximately $84,821,000. 24.95% of the stock is owned by hedge funds and other institutional investors.

About Kodiak Gas Services

Kodiak Gas Services, Inc (NYSE:KGS) provides contract natural gas compression services in the United States. The company helps oil and gas producers and midstream operators move natural gas through gathering systems, processing facilities, pipelines and other infrastructure by supplying and operating compression equipment.

Its services include the design, installation, commissioning, operation, maintenance and relocation of natural gas compression systems. Kodiak owns and manages a fleet of compressors that can be deployed for a range of applications, including gathering, processing, storage and transmission.