Kodiak Gas Services (NYSE:KGS) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Kodiak Gas Services (NYSE:KGS) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Other analysts also recently issued reports about the company. Mizuho reduced their price objective on Kodiak Gas Services from $47.00 to $44.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 3rd. Zacks Research downgraded shares of Kodiak Gas Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Stifel Nicolaus set a $48.00 target price on shares of Kodiak Gas Services in a report on Thursday, November 6th. Royal Bank Of Canada raised their price target on shares of Kodiak Gas Services from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. Finally, Barclays lowered their price target on shares of Kodiak Gas Services from $37.00 to $35.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $44.29.

Kodiak Gas Services Stock Up 0.3%

KGS stock opened at $37.39 on Friday. The company’s 50 day simple moving average is $35.13 and its 200-day simple moving average is $34.43. The firm has a market capitalization of $3.24 billion, a PE ratio of 46.73 and a beta of 1.33. Kodiak Gas Services has a 12 month low of $29.25 and a 12 month high of $50.43. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.98 and a quick ratio of 0.69.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.14). Kodiak Gas Services had a return on equity of 10.37% and a net margin of 5.84%.The company had revenue of $322.74 million for the quarter, compared to analyst estimates of $328.23 million. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. Equities analysts expect that Kodiak Gas Services will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 3rd were issued a $0.49 dividend. The ex-dividend date was Monday, November 3rd. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.45. This represents a $1.96 dividend on an annualized basis and a yield of 5.2%. Kodiak Gas Services’s payout ratio is 245.00%.

Hedge Funds Weigh In On Kodiak Gas Services

Several hedge funds and other institutional investors have recently modified their holdings of KGS. Allworth Financial LP increased its position in Kodiak Gas Services by 1,850.0% during the 2nd quarter. Allworth Financial LP now owns 741 shares of the company’s stock worth $25,000 after purchasing an additional 703 shares in the last quarter. Quarry LP acquired a new position in Kodiak Gas Services during the first quarter valued at approximately $30,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Kodiak Gas Services during the first quarter worth approximately $37,000. EverSource Wealth Advisors LLC increased its position in shares of Kodiak Gas Services by 1,501.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company’s stock worth $42,000 after acquiring an additional 1,156 shares in the last quarter. Finally, Salem Investment Counselors Inc. acquired a new stake in shares of Kodiak Gas Services in the second quarter worth $51,000. 24.95% of the stock is owned by institutional investors and hedge funds.

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.