Kodiak Gas Services (NYSE:KGS) Price Target Raised to $45.00

Kodiak Gas Services (NYSE:KGS) had its target price increased by Royal Bank Of Canada from $43.00 to $45.00 in a research note published on Tuesday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other equities analysts have also commented on the company. Mizuho upped their target price on Kodiak Gas Services from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Stifel Nicolaus set a $48.00 price objective on Kodiak Gas Services in a research report on Thursday, November 6th. Weiss Ratings lowered Kodiak Gas Services from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, November 10th. Barclays reduced 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. Finally, Zacks Research cut shares of Kodiak Gas Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $44.63.

Kodiak Gas Services Stock Down 0.9%

KGS stock opened at $33.44 on Tuesday. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 41.81 and a beta of 1.31. Kodiak Gas Services has a 1-year low of $29.25 and a 1-year high of $50.43. The firm has a fifty day moving average price of $34.81 and a two-hundred day moving average price of $34.37. 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 posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.14). Kodiak Gas Services had a net margin of 5.84% and a return on equity of 10.37%. The business had revenue of $322.74 million during the quarter, compared to analyst estimates of $328.23 million. During the same period last year, the firm posted ($0.07) earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Research analysts predict that Kodiak Gas Services will post 1.12 EPS for the current year.

Kodiak Gas Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 3rd were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.9%. This is a positive change from Kodiak Gas Services’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Monday, November 3rd. Kodiak Gas Services’s dividend payout ratio is 245.00%.

Kodiak Gas Services announced that its Board of Directors has authorized a share repurchase plan on Monday, August 11th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Kodiak Gas Services

Several large investors have recently bought and sold shares of the stock. Allworth Financial LP lifted its stake in shares of Kodiak Gas Services by 1,850.0% in the 2nd quarter. Allworth Financial LP now owns 741 shares of the company’s stock worth $25,000 after acquiring an additional 703 shares during the period. Quarry LP bought a new stake in Kodiak Gas Services during the first quarter worth approximately $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Kodiak Gas Services in the first quarter worth approximately $37,000. EverSource Wealth Advisors LLC boosted its stake in Kodiak Gas Services by 1,501.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company’s stock valued at $42,000 after purchasing an additional 1,156 shares in the last quarter. Finally, Salem Investment Counselors Inc. acquired a new position in shares of Kodiak Gas Services during the 2nd quarter valued at $51,000. 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.