Kodiak Gas Services, Inc. (NYSE:KGS) Receives $78.89 Consensus Target Price from Brokerages

Shares of Kodiak Gas Services, Inc. (NYSE:KGS) have been given an average rating of “Moderate Buy” by the twelve brokerages that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $78.8889.

KGS has been the subject of a number of analyst reports. Piper Sandler initiated coverage on shares of Kodiak Gas Services in a report on Tuesday, July 28th. They set an “overweight” rating and a $78.00 price objective for the company. Barclays dropped their price target on shares of Kodiak Gas Services from $76.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 8th. Jefferies Financial Group decreased their price objective on Kodiak Gas Services from $79.00 to $69.00 and set a “buy” rating for the company in a report on Monday, August 10th. Wells Fargo & Company began coverage on Kodiak Gas Services in a research note on Wednesday, May 27th. They issued an “overweight” rating and a $93.00 price objective for the company. Finally, Royal Bank Of Canada raised their target price on Kodiak Gas Services from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, August 13th.

Insider Buying and Selling

In other news, COO William Lenamon sold 1,000 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $63.21, for a total value of $63,210.00. Following the completion of the sale, the chief operating officer owned 85,294 shares in the company, valued at $5,391,433.74. This represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Cory Roclawski sold 4,169 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $68.36, for a total transaction of $284,992.84. Following the transaction, the executive vice president directly owned 24,662 shares in the company, valued at $1,685,894.32. The trade was a 14.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,839 shares of company stock valued at $1,359,599 in the last 90 days. Insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Kodiak Gas Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Kodiak Gas Services during the 2nd quarter valued at $29,000. Core Capital Management & Research inc. purchased a new position in shares of Kodiak Gas Services in the 2nd quarter worth about $64,000. Harbor Investment Advisory LLC purchased a new position in shares of Kodiak Gas Services in the 2nd quarter worth about $76,000. Allworth Financial LP purchased a new position in shares of Kodiak Gas Services in the 2nd quarter worth about $80,000. Finally, PNC Financial Services Group Inc. grew its position in Kodiak Gas Services by 29.5% during 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 period. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Stock Performance

NYSE:KGS opened at $54.69 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 twelve month low of $32.55 and a twelve month high of $77.68. The company has a fifty day moving average of $60.83 and a 200-day moving average of $63.96. The firm has a market capitalization of $5.53 billion, a P/E ratio of 65.11, a P/E/G ratio of 0.82 and a beta of 0.96.

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

Kodiak Gas Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Monday, August 17th. Kodiak Gas Services’s dividend payout ratio is presently 233.33%.

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.