Barclays Cuts Kodiak Gas Services (NYSE:KGS) Price Target to $36.00

Kodiak Gas Services (NYSE:KGS) had its price target decreased by Barclays from $41.00 to $36.00 in a research report released on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

KGS has been the subject of a number of other research reports. Citigroup boosted their price objective on shares of Kodiak Gas Services from $41.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Royal Bank of Canada set a $45.00 price target on Kodiak Gas Services and gave the stock an “outperform” rating in a research report on Tuesday, March 11th. Mizuho lifted their target price on Kodiak Gas Services from $47.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Raymond James reiterated an “outperform” rating on shares of Kodiak Gas Services in a report on Friday, March 7th. Finally, Truist Financial raised their price target on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Kodiak Gas Services presently has an average rating of “Moderate Buy” and a consensus price target of $41.45.

Kodiak Gas Services Price Performance

KGS opened at $34.42 on Wednesday. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 118.70 and a beta of 1.52. The company has a current ratio of 1.27, a quick ratio of 0.93 and a debt-to-equity ratio of 1.86. Kodiak Gas Services has a 12-month low of $24.84 and a 12-month high of $50.43. The business’s fifty day simple moving average is $38.11 and its 200-day simple moving average is $38.80.

Kodiak Gas Services (NYSE:KGS) last issued its earnings results on Wednesday, March 5th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.15). Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. The business had revenue of $309.52 million for the quarter, compared to the consensus estimate of $323.82 million. On average, equities research analysts anticipate that Kodiak Gas Services will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were issued a $0.41 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.76%. Kodiak Gas Services’s dividend payout ratio is currently 277.97%.

Insider Transactions at Kodiak Gas Services

In other news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $47.50, for a total value of $177,112,157.50. Following the completion of the transaction, the insider now directly owns 34,771,323 shares in the company, valued at $1,651,637,842.50. This trade represents a 9.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Kodiak Gas Services

Several hedge funds and other institutional investors have recently bought and sold shares of KGS. Baker Ellis Asset Management LLC boosted its holdings in shares of Kodiak Gas Services by 3.3% in the 1st quarter. Baker Ellis Asset Management LLC now owns 125,722 shares of the company’s stock valued at $4,689,000 after acquiring an additional 3,996 shares during the last quarter. Viking Fund Management LLC boosted its holdings in Kodiak Gas Services by 5.7% in the first quarter. Viking Fund Management LLC now owns 74,000 shares of the company’s stock valued at $2,760,000 after purchasing an additional 4,000 shares during the last quarter. Rhumbline Advisers grew its position in Kodiak Gas Services by 37.3% during the 1st quarter. Rhumbline Advisers now owns 60,450 shares of the company’s stock worth $2,255,000 after purchasing an additional 16,408 shares during the period. GAMMA Investing LLC raised its stake in shares of Kodiak Gas Services by 3,401.8% during the 1st quarter. GAMMA Investing LLC now owns 24,618 shares of the company’s stock valued at $918,000 after buying an additional 23,915 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Kodiak Gas Services by 16.9% during the 4th quarter. California State Teachers Retirement System now owns 27,527 shares of the company’s stock valued at $1,124,000 after buying an additional 3,985 shares during the last quarter. Institutional investors and hedge funds 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.