Brokerages Set Kodiak Gas Services, Inc. (NYSE:KGS) PT at $78.89

Kodiak Gas Services, Inc. (NYSE:KGS) has been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $78.8889.

KGS has been the topic of several recent research reports. Stifel Nicolaus upped their price target on Kodiak Gas Services from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Barclays decreased their price objective on Kodiak Gas Services from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, July 8th. Jefferies Financial Group lowered their price objective on Kodiak Gas Services from $79.00 to $69.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Royal Bank Of Canada upped their target price on shares of Kodiak Gas Services from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kodiak Gas Services in a report on Wednesday, August 26th.

Kodiak Gas Services Price Performance

Kodiak Gas Services stock opened at $58.78 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.45 and a debt-to-equity ratio of 1.28. Kodiak Gas Services has a 52-week low of $32.55 and a 52-week high of $77.68. The firm has a market cap of $5.94 billion, a PE ratio of 69.98, a price-to-earnings-growth ratio of 0.85 and a beta of 0.96. The company’s 50 day moving average is $61.32 and its two-hundred day moving average is $63.94.

Kodiak Gas Services (NYSE:KGS) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.12). The business had revenue of $391.12 million during the quarter, compared to analyst estimates of $386.30 million. Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%.The business’s revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 EPS. On average, research analysts expect that Kodiak Gas Services will post 2.44 EPS for the current fiscal year.

Kodiak Gas Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Monday, August 17th were given a $0.49 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.3%. Kodiak Gas Services’s dividend payout ratio is currently 233.33%.

Insider Activity

In related news, CEO Robert McKee sold 5,999 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $59.31, for a total transaction of $355,800.69. Following the completion of the transaction, the chief executive officer owned 292,590 shares in the company, valued at approximately $17,353,512.90. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Pedro Buhigas sold 3,663 shares of the stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $58.14, for a total value of $212,966.82. Following the completion of the transaction, the insider directly owned 32,413 shares in the company, valued at $1,884,491.82. This trade represents a 10.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 21,839 shares of company stock valued at $1,359,599 in the last 90 days. Company insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Kodiak Gas Services

Several institutional investors have recently added to or reduced their stakes in KGS. Public Employees Retirement System of Ohio purchased a new position in shares of Kodiak Gas Services in the 2nd quarter valued at $29,000. Core Capital Management & Research inc. purchased a new stake in shares of Kodiak Gas Services in the 2nd quarter valued at about $64,000. Harbor Investment Advisory LLC purchased a new stake in shares of Kodiak Gas Services in the 2nd quarter valued at about $76,000. Allworth Financial LP acquired a new stake in shares of Kodiak Gas Services in the 2nd quarter valued at about $80,000. Finally, Hilltop National Bank acquired a new stake in shares of Kodiak Gas Services in the 2nd quarter valued at about $102,000. Hedge funds and other institutional investors own 24.95% of the company’s stock.

About Kodiak Gas Services

Kodiak Gas Services, Inc (NYSE: KGS) provides natural gas compression services to producers, processors, gatherers and other midstream companies in the United States. Its compression equipment increases and maintains the pressure of natural gas as it moves from production sites through gathering systems, processing facilities and pipelines.

The company primarily operates under long-term contracts and offers compression-as-a-service solutions. Its services include the design, installation, operation, maintenance, repair and overhaul of natural gas compression equipment.