Kodiak Gas Services (NYSE:KGS) Stock Gets Price Target Reduction from Royal Bank Of Canada

Kodiak Gas Services (NYSE:KGS – Free Report) had its price objective decreased by Royal Bank Of Canada from $82.00 to $78.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

A number of other research analysts have also recently commented on KGS. Jefferies Financial Group reduced their target price on shares of Kodiak Gas Services from $53.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday. Barclays dropped their price target on shares of Kodiak Gas Services from $72.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, October 5th. Citigroup cut their price objective on shares of Kodiak Gas Services from $86.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Piper Sandler assumed coverage on shares of Kodiak Gas Services in a research report on Tuesday, July 28th. They issued an “overweight” rating and a $78.00 price objective for the company. Finally, Zacks Research downgraded Kodiak Gas Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 27th. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.92.

Check Out Our Latest Stock Report on KGS

Kodiak Gas Services Stock Performance

Kodiak Gas Services stock opened at $44.36 on Tuesday. The stock’s 50 day moving average price is $51.61 and its 200 day moving average price is $59.16. The firm has a market capitalization of $4.50 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 0.72 and a beta of 1.07. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.31. Kodiak Gas Services has a one year low of $32.55 and a one year high of $77.68.

Kodiak Gas Services (NYSE:KGS – Get Free Report) last released its quarterly earnings results on Monday, November 9th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. Kodiak Gas Services had a return on equity of 12.62% and a net margin of 11.28%. The firm had revenue of $401.79 million during the quarter, compared to analysts’ expectations of $387.50 million. During the same quarter in the prior year, the business earned $0.36 EPS. Kodiak Gas Services’s quarterly revenue was up 24.5% compared to the same quarter last year. As a group, sell-side analysts expect that Kodiak Gas Services will post 2.46 EPS for the current fiscal year.

Kodiak Gas Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.51 per share. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.49. The ex-dividend date is Monday, November 16th. This represents a $2.04 annualized dividend and a dividend yield of 4.6%. Kodiak Gas Services’s dividend payout ratio (DPR) is currently 114.62%.

Insider Activity at Kodiak Gas Services

In other news, COO William Lenamon sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $44.20, for a total transaction of $44,200.00. Following the completion of the sale, the chief operating officer owned 83,294 shares of the company’s stock, valued at approximately $3,681,594.80. This trade represents a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Margaret Montana purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 11th. The stock was bought at an average price of $44.26 per share, with a total value of $44,260.00. Following the purchase, the director owned 29,651 shares of the company’s stock, valued at approximately $1,312,353.26. The trade was a 3.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 24,002 shares of company stock worth $1,369,534 over the last three months. 0.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kodiak Gas Services

Several hedge funds and other institutional investors have recently modified their holdings of KGS. Voya Investment Management LLC lifted its position in shares of Kodiak Gas Services by 1.3% during the third quarter. Voya Investment Management LLC now owns 22,267 shares of the company’s stock worth $1,179,000 after purchasing an additional 289 shares during the last quarter. Hanseatic Management Services Inc. grew its stake in Kodiak Gas Services by 2.0% in the third quarter. Hanseatic Management Services Inc. now owns 15,633 shares of the company’s stock worth $828,000 after purchasing an additional 310 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Kodiak Gas Services by 29.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,545 shares of the company’s stock valued at $90,000 after buying an additional 352 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Kodiak Gas Services in the second quarter valued at about $29,000. Finally, Oregon Public Employees Retirement Fund increased its holdings in Kodiak Gas Services by 1.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 22,700 shares of the company’s stock valued at $1,202,000 after buying an additional 400 shares during the last quarter. Institutional investors own 24.95% of the company’s stock.

Recent Kodiak Gas Services Headlines

These are some of the KGS headlines that stood out recently:

  • Positive Sentiment: Director Margaret Montana bought 1,000 shares for about $44,260, increasing her stake by 3.49%. The purchase may signal confidence, though it was modest in size. SEC filing
  • Neutral Sentiment: Citigroup lowered its price target to $75 from $82 but maintained a Buy rating, leaving a substantially higher target than the cited $44.36 share price. The cut tempers the positive rating. Citigroup ratings
  • Neutral Sentiment: Analyst coverage was mixed: RBC was reported as sticking with a Buy rating, while other headlines described pessimistic forecasts from RBC and Stifel. The available reports do not specify the details of those forecasts. RBC rating Stifel forecast RBC forecast

About Kodiak Gas Services

(Get Free Report)

Kodiak Gas Services provides contract natural gas compression services to energy companies in the United States. Its equipment helps move natural gas from production sites through gathering and processing systems and into pipelines. The company supplies, installs, operates and maintains compression equipment, including large-horsepower compressor units. Its services support natural gas production and transportation across major U.S. oil and gas regions. Based in The Woodlands, Texas, Kodiak became a publicly traded company in 2023.

Further Reading

Analyst Recommendations for Kodiak Gas Services (NYSE:KGS)

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