Kodiak Gas Services, Inc. (NYSE:KGS – Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $77.68 and last traded at $76.7420, with a volume of 103960 shares changing hands. The stock had previously closed at $75.89.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on KGS. Citigroup lifted their target price on shares of Kodiak Gas Services from $63.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Zacks Research upgraded Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada increased their price target on shares of Kodiak Gas Services from $64.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday. The Goldman Sachs Group raised their price objective on Kodiak Gas Services from $69.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Barclays upped their price target on shares of Kodiak Gas Services from $60.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Kodiak Gas Services has a consensus rating of “Moderate Buy” and a consensus price target of $72.14.
View Our Latest Stock Report on Kodiak Gas Services
Kodiak Gas Services Stock Performance
Kodiak Gas Services (NYSE:KGS – Get Free Report) last issued its earnings results on Monday, May 11th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. The firm had revenue of $345.76 million during the quarter, compared to analyst estimates of $340.23 million. Kodiak Gas Services had a net margin of 5.13% and a return on equity of 13.12%. Kodiak Gas Services’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 earnings per share. As a group, equities research analysts expect that Kodiak Gas Services, Inc. will post 2.35 EPS for the current year.
Kodiak Gas Services Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Monday, May 18th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, May 18th. Kodiak Gas Services’s dividend payout ratio is 264.86%.
Insider Activity
In related news, CAO Ewan William Hamilton sold 5,797 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $56.18, for a total transaction of $325,675.46. Following the completion of the transaction, the chief accounting officer directly owned 34,346 shares of the company’s stock, valued at approximately $1,929,558.28. This represents a 14.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Randall J. Hogan purchased 6,000 shares of the business’s stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $54.81 per share, with a total value of $328,860.00. Following the acquisition, the director directly owned 28,406 shares in the company, valued at $1,556,932.86. This represents a 26.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 58,673 shares of company stock valued at $3,269,110. 0.64% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of KGS. Invesco Ltd. increased its position in Kodiak Gas Services by 20.4% in the fourth quarter. Invesco Ltd. now owns 7,593,274 shares of the company’s stock worth $283,988,000 after purchasing an additional 1,287,485 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Kodiak Gas Services by 33.8% in the 4th quarter. Vanguard Group Inc. now owns 6,170,360 shares of the company’s stock worth $230,771,000 after buying an additional 1,559,172 shares in the last quarter. Zimmer Partners LP increased its holdings in shares of Kodiak Gas Services by 45.7% in the 4th quarter. Zimmer Partners LP now owns 4,271,553 shares of the company’s stock worth $159,756,000 after buying an additional 1,339,849 shares during the last quarter. State Street Corp increased its holdings in shares of Kodiak Gas Services by 31.8% in the 4th quarter. State Street Corp now owns 3,340,008 shares of the company’s stock worth $124,916,000 after buying an additional 806,191 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Kodiak Gas Services by 4.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,105,555 shares of the company’s stock valued at $181,108,000 after buying an additional 135,998 shares in the last quarter. 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.
Further Reading
- Five stocks we like better than Kodiak Gas Services
- Overextended, e.l.f. Beauty Is Primed to Rebound in Back Half
- Biogen Stock Slides After Trial Miss, But Analysts Stay Bullish
- Intuit’s Great SaaS Reset: Fired By AI
- Meta Platforms 10% Layoff Raises a Bigger Question About AI Spending
Receive News & Ratings for Kodiak Gas Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kodiak Gas Services and related companies with MarketBeat.com's FREE daily email newsletter.
