Kodiak Gas Services, Inc. (NYSE:KGS) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Kodiak Gas Services, Inc. (NYSE:KGS) have been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $37.09.

A number of research analysts recently issued reports on KGS shares. Raymond James lifted their target price on Kodiak Gas Services from $35.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Citigroup started coverage on Kodiak Gas Services in a research report on Friday, September 27th. They set a “buy” rating and a $35.00 price objective for the company. Royal Bank of Canada raised their target price on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Barclays lifted their price target on shares of Kodiak Gas Services from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, The Goldman Sachs Group increased their price objective on shares of Kodiak Gas Services from $32.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th.

Insiders Place Their Bets

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 stock was 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 owns 31,745 shares in the company, valued at approximately $1,284,085.25. The trade was a 8.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Kodiak Gas Services

A number of hedge funds have recently modified their holdings of KGS. FMR LLC boosted its stake in Kodiak Gas Services by 444.4% during the 3rd 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 boosted its stake in shares of 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 buying an additional 1,348,899 shares during the period. Wellington Management Group LLP purchased a new position in shares of Kodiak Gas Services during the third quarter worth about $44,558,000. HITE Hedge Asset Management LLC increased its position in Kodiak Gas Services by 74.8% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 780,600 shares of the company’s stock valued at $21,279,000 after acquiring an additional 334,086 shares during the period. Finally, State Street Corp raised its stake in Kodiak Gas Services by 8.7% during the 3rd quarter. State Street Corp now owns 678,925 shares of the company’s stock valued at $19,689,000 after acquiring an additional 54,202 shares during the last quarter. 24.95% of the stock is currently owned by hedge funds and other institutional investors.

Kodiak Gas Services Price Performance

Shares of KGS opened at $43.66 on Monday. The company has a market cap of $3.82 billion, a P/E ratio of 150.56 and a beta of 1.15. Kodiak Gas Services has a fifty-two week low of $20.23 and a fifty-two week high of $44.20. 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’s 50 day moving average price is $38.55 and its 200 day moving average price is $31.81.

Kodiak Gas Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were given a $0.41 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.76%. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 565.52%.

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.