Citigroup Increases Kodiak Gas Services (NYSE:KGS) Price Target to $48.00

Kodiak Gas Services (NYSE:KGS) had its price target increased by investment analysts at Citigroup from $41.00 to $48.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 6.17% from the company’s current price.

A number of other research analysts also recently commented on the stock. Raymond James increased their price target on shares of Kodiak Gas Services from $35.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. lifted their target price on Kodiak Gas Services from $34.00 to $42.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Redburn Atlantic initiated coverage on Kodiak Gas Services in a report on Thursday, September 19th. They set a “buy” rating and a $35.00 price target on the stock. Bank of America initiated coverage on shares of 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. Finally, The Goldman Sachs Group boosted 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. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Kodiak Gas Services currently has a consensus rating of “Moderate Buy” and an average target price of $39.36.

Kodiak Gas Services Price Performance

Kodiak Gas Services stock traded up $2.39 during mid-day trading on Tuesday, reaching $45.21. 378,290 shares of the company’s stock traded hands, compared to its average volume of 779,884. Kodiak Gas Services has a 12-month low of $20.84 and a 12-month high of $45.27. 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 stock has a 50 day moving average of $39.84 and a two-hundred day moving average of $32.52. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 155.90 and a beta of 1.15.

Insider Buying and Selling

In other Kodiak Gas Services news, insider Ewan William Hamilton sold 3,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $40.45, for a total transaction of $121,350.00. Following the transaction, the insider now owns 31,745 shares of the company’s stock, valued at approximately $1,284,085.25. This trade represents a 8.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Kodiak Gas Services

Hedge funds have recently modified their holdings of the business. Rhumbline Advisers increased its holdings in Kodiak Gas Services by 36.4% during the second quarter. Rhumbline Advisers now owns 29,943 shares of the company’s stock valued at $816,000 after buying an additional 7,995 shares during the period. Arizona State Retirement System purchased a new position in shares of Kodiak Gas Services in the 2nd quarter valued at $205,000. American Century Companies Inc. raised its position in shares of Kodiak Gas Services by 63.2% in the 2nd quarter. American Century Companies Inc. now owns 575,371 shares of the company’s stock worth $15,685,000 after acquiring an additional 222,830 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Kodiak Gas Services by 20.4% during the 2nd quarter. Federated Hermes Inc. now owns 94,752 shares of the company’s stock worth $2,583,000 after purchasing an additional 16,085 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its position in Kodiak Gas Services by 189.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 76,268 shares of the company’s stock valued at $2,079,000 after purchasing an additional 49,962 shares in the last quarter. Hedge funds and other institutional investors own 24.95% of the company’s stock.

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.