Kodiak Gas Services (NYSE:KGS) Stock Price Up 6.5% – Here’s Why

Shares of Kodiak Gas Services, Inc. (NYSE:KGS) were up 6.5% during mid-day trading on Thursday . The stock traded as high as $46.98 and last traded at $45.1540. Approximately 1,434,542 shares changed hands during mid-day trading, an increase of 13% from the average daily volume of 1,267,907 shares. The stock had previously closed at $42.40.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on KGS shares. Mizuho boosted their price objective on Kodiak Gas Services from $36.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Royal Bank Of Canada boosted their price target on Kodiak Gas Services from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. Wall Street Zen upgraded Kodiak Gas Services from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. Stifel Nicolaus set a $48.00 price objective on shares of Kodiak Gas Services in a research note on Thursday, November 6th. Finally, Barclays raised shares of Kodiak Gas Services from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $35.00 to $42.00 in a research note on Tuesday, January 13th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.83.

Kodiak Gas Services Trading Up 8.3%

The firm’s 50-day moving average is $37.53 and its 200-day moving average is $35.47. The company has a current ratio of 0.98, a quick ratio of 0.69 and a debt-to-equity ratio of 2.08. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 57.20 and a beta of 1.31.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.36 earnings per share 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 business had revenue of $322.74 million for the quarter, compared to analyst estimates of $328.23 million. During the same quarter in the previous year, the company posted ($0.07) EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. As a group, sell-side analysts anticipate that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 13th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, February 13th. Kodiak Gas Services’s dividend payout ratio is currently 245.00%.

Hedge Funds Weigh In On Kodiak Gas Services

A number of hedge funds have recently bought and sold shares of the company. Tyler Stone Wealth Management purchased a new stake in Kodiak Gas Services during the 2nd quarter worth about $1,068,000. Walleye Capital LLC grew its holdings in Kodiak Gas Services by 385.9% during the 2nd quarter. Walleye Capital LLC now owns 401,983 shares of the company’s stock valued at $13,776,000 after buying an additional 319,257 shares in the last quarter. Viking Fund Management LLC increased its position in shares of Kodiak Gas Services by 42.7% during the third quarter. Viking Fund Management LLC now owns 127,000 shares of the company’s stock valued at $4,695,000 after buying an additional 38,000 shares during the period. Deprince Race & Zollo Inc. purchased a new stake in shares of Kodiak Gas Services in the third quarter worth about $28,385,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Kodiak Gas Services in the third quarter worth about $1,336,000. 24.95% of the stock is owned by hedge funds and other institutional investors.

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