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

Kodiak Gas Services, Inc. (NYSE:KGS) shares hit a new 52-week high on Monday . The stock traded as high as $63.99 and last traded at $63.4320, with a volume of 616 shares. The stock had previously closed at $63.25.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on KGS shares. Barclays increased their target price on shares of Kodiak Gas Services from $49.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Mizuho increased their target price on shares of Kodiak Gas Services from $36.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Zacks Research downgraded shares of Kodiak Gas Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 7th. Wall Street Zen upgraded shares of Kodiak Gas Services from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Kodiak Gas Services in a report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Kodiak Gas Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.86.

Kodiak Gas Services Stock Up 0.5%

The stock has a market capitalization of $5.46 billion, a PE ratio of 73.03, a PEG ratio of 0.89 and a beta of 0.96. The firm’s fifty day moving average is $56.14 and its 200-day moving average is $43.44. The company has a quick ratio of 0.57, a current ratio of 0.84 and a debt-to-equity ratio of 2.12.

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

Kodiak Gas Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 13th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, February 13th. Kodiak Gas Services’s dividend payout ratio (DPR) is 225.29%.

Insider Buying and Selling at Kodiak Gas Services

In other Kodiak Gas Services news, Director Alexander Newsom Darden acquired 5,000 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $54.75 per share, with a total value of $273,750.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at approximately $273,750. This trade represents a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Pedro R. Buhigas sold 13,942 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $55.73, for a total transaction of $776,987.66. Following the transaction, the insider directly owned 42,723 shares of the company’s stock, valued at approximately $2,380,952.79. This trade represents a 24.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders bought 11,433 shares of company stock worth $624,360 and sold 58,673 shares worth $3,269,110. Company insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. boosted its position in Kodiak Gas Services by 492.8% during the third quarter. Principal Financial Group Inc. now owns 399,041 shares of the company’s stock worth $14,753,000 after acquiring an additional 331,732 shares during the last quarter. Rhumbline Advisers boosted its position in Kodiak Gas Services by 126.9% during the third quarter. Rhumbline Advisers now owns 179,160 shares of the company’s stock worth $6,624,000 after acquiring an additional 100,194 shares during the last quarter. Public Sector Pension Investment Board acquired a new stake in Kodiak Gas Services during the third quarter worth approximately $9,491,000. Viking Fund Management LLC boosted its position in Kodiak Gas Services by 42.7% during the third quarter. Viking Fund Management LLC now owns 127,000 shares of the company’s stock worth $4,695,000 after acquiring an additional 38,000 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in Kodiak Gas Services by 395.1% during the third quarter. New York State Common Retirement Fund now owns 84,838 shares of the company’s stock worth $3,136,000 after acquiring an additional 67,704 shares during the last quarter. 24.95% of the stock is owned by hedge funds and other institutional investors.

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.