Kodiak Gas Services (NYSE:KGS) Sets New 12-Month High – Here’s What Happened

Kodiak Gas Services, Inc. (NYSE:KGS)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $49.44 and last traded at $49.2850, with a volume of 136679 shares. The stock had previously closed at $47.31.

Analysts Set New Price Targets

Several research firms have recently commented on KGS. Barclays raised their price objective on Kodiak Gas Services from $42.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Kodiak Gas Services in a research note on Monday, December 29th. Stifel Nicolaus set a $48.00 price target on shares of Kodiak Gas Services in a research report on Thursday, November 6th. Wall Street Zen upgraded shares of Kodiak Gas Services from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. Finally, William Blair started coverage on shares of Kodiak Gas Services in a report on Tuesday, November 18th. They issued an “outperform” rating for the company. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Kodiak Gas Services currently has a consensus rating of “Moderate Buy” and an average target price of $46.00.

Kodiak Gas Services Stock Performance

The firm’s 50 day simple moving average is $37.78 and its 200 day simple moving average is $35.55. The firm has a market cap of $4.30 billion, a PE ratio of 62.19 and a beta of 1.31. The company has a current ratio of 0.98, a quick ratio of 0.69 and a debt-to-equity ratio of 2.08.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.14). The firm had revenue of $322.74 million for the quarter, compared to analysts’ expectations of $328.23 million. Kodiak Gas Services had a net margin of 5.84% and a return on equity of 10.37%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.07) EPS. On average, research analysts forecast that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services Dividend Announcement

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. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.0%. Kodiak Gas Services’s dividend payout ratio (DPR) is 245.00%.

Hedge Funds Weigh In On Kodiak Gas Services

Several institutional investors have recently bought and sold shares of KGS. Tyler Stone Wealth Management purchased a new position in shares of Kodiak Gas Services during the 2nd quarter worth about $1,068,000. Walleye Capital LLC boosted its position in shares of Kodiak Gas Services by 385.9% during the second 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 during the period. Viking Fund Management LLC boosted 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. bought a new position in shares of Kodiak Gas Services during the third quarter valued at approximately $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 approximately $1,336,000. Institutional investors own 24.95% of the company’s stock.

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.