Kodiak Gas Services (NYSE:KGS) Sets New 52-Week High – Here’s What Happened

Kodiak Gas Services, Inc. (NYSE:KGS)’s share price hit a new 52-week high on Monday . The stock traded as high as $66.29 and last traded at $66.5360, with a volume of 319 shares trading hands. The stock had previously closed at $65.98.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of Kodiak Gas Services from $53.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Mizuho increased their target price on Kodiak Gas Services from $36.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Zacks Research downgraded Kodiak Gas Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 7th. Barclays boosted their price target on Kodiak Gas Services from $49.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. Finally, Royal Bank Of Canada boosted their target price on shares of Kodiak Gas Services from $45.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, March 19th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Kodiak Gas Services presently has a consensus rating of “Moderate Buy” and an average price target of $55.86.

Kodiak Gas Services Price Performance

The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of 76.74, a price-to-earnings-growth ratio of 0.93 and a beta of 0.96. The company has a quick ratio of 0.57, a current ratio of 0.84 and a debt-to-equity ratio of 2.12. The company’s fifty day moving average is $58.10 and its two-hundred day moving average is $44.93.

Kodiak Gas Services (NYSE:KGS) last issued its earnings results on Wednesday, February 25th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.13). The business had revenue of $332.87 million for the quarter, compared to the consensus estimate of $330.95 million. Kodiak Gas Services had a net margin of 6.16% and a return on equity of 11.55%. The business’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS. Equities research analysts anticipate that Kodiak Gas Services, Inc. will post 2.34 earnings per share for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 13th were issued a dividend of $0.49 per share. The ex-dividend date was Friday, February 13th. This represents a $1.96 dividend on an annualized basis and a yield of 2.9%. Kodiak Gas Services’s payout ratio is currently 225.29%.

Insider Buying and Selling

In other news, EVP Cory Anne Roclawski sold 10,852 shares of Kodiak Gas Services stock in a transaction on Monday, March 16th. The shares were sold at an average price of $54.41, for a total transaction of $590,457.32. Following the transaction, the executive vice president directly owned 31,405 shares of the company’s stock, valued at $1,708,746.05. This trade represents a 25.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Ewan William Hamilton sold 5,797 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $56.18, for a total value of $325,675.46. Following the sale, the chief accounting officer directly owned 34,346 shares in the company, valued at $1,929,558.28. The trade was a 14.44% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders acquired 11,433 shares of company stock valued at $624,360 and sold 58,673 shares valued at $3,269,110. 0.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KGS. Van ECK Associates Corp lifted its holdings in Kodiak Gas Services by 0.9% during the 4th quarter. Van ECK Associates Corp now owns 23,640 shares of the company’s stock worth $884,000 after purchasing an additional 209 shares during the last quarter. United Advisor Group LLC grew its holdings in Kodiak Gas Services by 2.0% in the 4th quarter. United Advisor Group LLC now owns 15,817 shares of the company’s stock valued at $592,000 after buying an additional 304 shares in the last quarter. Comerica Bank grew its holdings in Kodiak Gas Services by 1.8% in the 4th quarter. Comerica Bank now owns 20,499 shares of the company’s stock valued at $767,000 after buying an additional 357 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Kodiak Gas Services by 52.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,062 shares of the company’s stock worth $40,000 after buying an additional 364 shares during the period. Finally, Aurora Investment Counsel increased its position in Kodiak Gas Services by 0.6% during the 4th quarter. Aurora Investment Counsel now owns 67,192 shares of the company’s stock worth $2,513,000 after buying an additional 397 shares during the period. 24.95% of the stock is currently owned by institutional investors.

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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.