Kodiak Gas Services (NYSE:KGS) Hits New 1-Year High Following Analyst Upgrade

Kodiak Gas Services, Inc. (NYSE:KGS)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Barclays raised their price target on the stock from $32.00 to $44.00. Barclays currently has an equal weight rating on the stock. Kodiak Gas Services traded as high as $44.67 and last traded at $44.44, with a volume of 116611 shares trading hands. The stock had previously closed at $42.82.

Other equities analysts have also recently issued reports about the company. Mizuho began coverage on Kodiak Gas Services in a report on Wednesday, October 2nd. They set an “outperform” rating and a $36.00 price target for the company. Raymond James increased their price target on Kodiak Gas Services from $35.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Bank of America assumed coverage on Kodiak Gas Services in a report on Wednesday, September 18th. They set a “buy” rating and a $30.00 price target for the company. The Goldman Sachs Group raised their target price on Kodiak Gas Services from $32.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Truist Financial raised their target price on Kodiak Gas Services from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Kodiak Gas Services presently has a consensus rating of “Moderate Buy” and an average target price of $38.18.

Insider Buying and Selling at Kodiak Gas Services

In related news, insider Ewan William Hamilton sold 3,000 shares of the firm’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 transaction of $121,350.00. Following the transaction, the insider now owns 31,745 shares in the company, valued at $1,284,085.25. This trade represents a 8.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of KGS. Principal Financial Group Inc. purchased a new stake in shares of Kodiak Gas Services in the third quarter valued at approximately $610,000. Victory Capital Management Inc. purchased a new stake in shares of Kodiak Gas Services in the third quarter valued at approximately $2,974,000. Chesapeake Capital Corp IL purchased a new stake in shares of Kodiak Gas Services in the third quarter valued at approximately $603,000. Tidal Investments LLC purchased a new stake in shares of Kodiak Gas Services in the third quarter valued at approximately $598,000. Finally, Barclays PLC boosted its stake in shares of Kodiak Gas Services by 209.3% in the third quarter. Barclays PLC now owns 42,350 shares of the company’s stock valued at $1,228,000 after buying an additional 28,658 shares in the last quarter. 24.95% of the stock is currently owned by hedge funds and other institutional investors.

Kodiak Gas Services Stock Performance

The company has a debt-to-equity ratio of 1.86, a current ratio of 1.27 and a quick ratio of 0.93. The stock has a market capitalization of $3.90 billion, a PE ratio of 153.69 and a beta of 1.15. The stock has a 50 day moving average of $39.84 and a two-hundred day moving average of $32.52.

Kodiak Gas Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were issued a dividend of $0.41 per share. The ex-dividend date was Friday, November 1st. This represents a $1.64 annualized dividend and a yield of 3.68%. Kodiak Gas Services’s dividend payout ratio 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.