Kodiak Gas Services (NYSE:KGS) Sets New 1-Year High – Here’s Why

Kodiak Gas Services, Inc. (NYSE:KGS)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $58.53 and last traded at $58.5710, with a volume of 409367 shares trading hands. The stock had previously closed at $55.90.

Wall Street Analysts Forecast Growth

KGS has been the subject of several recent research reports. Royal Bank Of Canada upped their target price on shares of Kodiak Gas Services from $45.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of Kodiak Gas Services in a research note on Monday, December 29th. The Goldman Sachs Group boosted their target price on Kodiak Gas Services from $46.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Wall Street Zen upgraded shares of Kodiak Gas Services from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Barclays boosted their price objective on shares of Kodiak Gas Services from $49.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Kodiak Gas Services currently has an average rating of “Moderate Buy” and a consensus target price of $54.57.

Kodiak Gas Services Price Performance

The company has a current ratio of 0.84, a quick ratio of 0.57 and a debt-to-equity ratio of 2.12. The company has a fifty day moving average price of $48.41 and a two-hundred day moving average price of $39.92. The firm has a market cap of $5.04 billion, a P/E ratio of 67.41 and a beta of 1.10.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.13). Kodiak Gas Services had a net margin of 6.16% and a return on equity of 11.55%. The company had revenue of $332.87 million during the quarter, compared to the consensus estimate of $330.95 million. During the same period in the previous year, the firm posted $0.21 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities analysts anticipate that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 13th were paid a $0.49 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.96 annualized dividend and a yield of 3.3%. Kodiak Gas Services’s payout ratio is presently 225.29%.

Insider Activity at Kodiak Gas Services

In other Kodiak Gas Services news, EVP Cory Anne Roclawski sold 21,161 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $56.52, for a total transaction of $1,196,019.72. Following the sale, the executive vice president directly owned 42,257 shares of the company’s stock, valued at $2,388,365.64. The trade was a 33.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Ewan William Hamilton sold 5,797 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $56.18, for a total value of $325,675.46. Following the completion of the transaction, the chief accounting officer owned 34,346 shares of the company’s stock, valued at $1,929,558.28. The trade was a 14.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders purchased 11,433 shares of company stock worth $624,360 and sold 58,673 shares worth $3,269,110. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Kodiak Gas Services

A number of institutional investors and hedge funds have recently made changes to their positions in KGS. Allworth Financial LP grew its stake in shares of Kodiak Gas Services by 1,850.0% in the second quarter. Allworth Financial LP now owns 741 shares of the company’s stock valued at $25,000 after buying an additional 703 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Kodiak Gas Services by 52.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,062 shares of the company’s stock valued at $40,000 after acquiring an additional 364 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Kodiak Gas Services by 1,501.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company’s stock valued at $42,000 after purchasing an additional 1,156 shares during the period. State of Wyoming raised its holdings in shares of Kodiak Gas Services by 201.7% in the 4th quarter. State of Wyoming now owns 1,219 shares of the company’s stock valued at $46,000 after purchasing an additional 815 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Kodiak Gas Services by 80.3% in the 4th quarter. GAMMA Investing LLC now owns 1,248 shares of the company’s stock valued at $47,000 after purchasing an additional 556 shares during the last quarter. Institutional investors 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.