Kodiak Gas Services (NYSE:KGS) Reaches New 52-Week High – Here’s Why

Kodiak Gas Services, Inc. (NYSE:KGS) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $52.91 and last traded at $52.8450, with a volume of 783534 shares traded. The stock had previously closed at $51.12.

Analysts Set New Price Targets

KGS has been the subject of several recent analyst reports. Royal Bank Of Canada upped their target price on shares of Kodiak Gas Services from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. Stifel Nicolaus set a $48.00 price objective on shares of Kodiak Gas Services in a report on Thursday, November 6th. Citigroup lifted their target price on shares of Kodiak Gas Services from $48.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Kodiak Gas Services in a report on Monday, December 29th. Finally, Barclays increased their target price on Kodiak Gas Services from $42.00 to $49.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Kodiak Gas Services has an average rating of “Moderate Buy” and a consensus price target of $47.00.

Kodiak Gas Services Stock Performance

The firm’s 50 day simple moving average is $42.59 and its 200 day simple moving average is $37.71. The firm has a market cap of $4.72 billion, a PE ratio of 32.84 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 Wednesday, February 25th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.13). Kodiak Gas Services had a return on equity of 11.31% and a net margin of 6.16%.The business had revenue of $332.87 million during the quarter, compared to analysts’ expectations of $330.95 million. During the same period in the previous year, the business earned $0.21 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis. On average, research analysts forecast that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 13th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Friday, February 13th. Kodiak Gas Services’s dividend payout ratio (DPR) is 225.29%.

Hedge Funds Weigh In On Kodiak Gas Services

Several large investors have recently modified their holdings of KGS. Invesco Ltd. increased its stake in shares of Kodiak Gas Services by 59.9% during the second quarter. Invesco Ltd. now owns 4,869,346 shares of the company’s stock worth $166,872,000 after buying an additional 1,824,407 shares during the period. Vanguard Group Inc. lifted its stake in Kodiak Gas Services by 33.8% in the 4th quarter. Vanguard Group Inc. now owns 6,170,360 shares of the company’s stock valued at $230,771,000 after buying an additional 1,559,172 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in Kodiak Gas Services by 3,046.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,471,663 shares of the company’s stock worth $55,040,000 after buying an additional 1,424,888 shares during the period. Zimmer Partners LP lifted its stake in shares of Kodiak Gas Services by 45.7% during the fourth quarter. Zimmer Partners LP now owns 4,271,553 shares of the company’s stock worth $159,756,000 after purchasing an additional 1,339,849 shares in the last quarter. Finally, Eagle Global Advisors LLC acquired a new stake in Kodiak Gas Services during the 4th quarter valued at approximately $39,741,000. Institutional investors and hedge funds own 24.95% of the company’s stock.

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.