Kodiak Gas Services (NYSE:KGS) Rating Increased to Strong-Buy at Piper Sandler

Piper Sandler upgraded shares of Kodiak Gas Services (NYSE:KGS) to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

KGS has been the subject of a number of other reports. Jefferies Financial Group initiated coverage on Kodiak Gas Services in a report on Thursday, June 4th. They set a “buy” rating and a $79.00 target price for the company. Wells Fargo & Company started coverage on shares of Kodiak Gas Services in a research report on Wednesday, May 27th. They set an “overweight” rating and a $93.00 price target on the stock. Royal Bank Of Canada increased their price target on shares of Kodiak Gas Services from $64.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, May 18th. Zacks Research raised shares of Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Finally, Citigroup lifted their price objective on shares of Kodiak Gas Services from $63.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $79.33.

Kodiak Gas Services Trading Down 2.3%

KGS opened at $56.42 on Tuesday. Kodiak Gas Services has a 52 week low of $30.06 and a 52 week high of $77.68. The business has a fifty day simple moving average of $68.30 and a 200-day simple moving average of $59.86. The firm has a market cap of $5.01 billion, a P/E ratio of 76.25, a P/E/G ratio of 0.90 and a beta of 0.89. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 2.38.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. The business had revenue of $345.76 million during the quarter, compared to analysts’ expectations of $340.23 million. Kodiak Gas Services had a return on equity of 13.12% and a net margin of 5.13%.The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 earnings per share. On average, equities analysts expect that Kodiak Gas Services will post 2.27 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Monday, May 18th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, May 18th. Kodiak Gas Services’s payout ratio is presently 264.86%.

Insider Buying and Selling

In other news, CAO Ewan William Hamilton sold 2,729 shares of Kodiak Gas Services stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $68.62, for a total value of $187,263.98. Following the completion of the transaction, the chief accounting officer owned 31,617 shares in the company, valued at approximately $2,169,558.54. This trade represents a 7.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Pedro R. Buhigas sold 4,625 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $67.78, for a total value of $313,482.50. Following the transaction, the insider directly owned 38,454 shares of the company’s stock, valued at approximately $2,606,412.12. This represents a 10.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,523 shares of company stock worth $921,319 in the last quarter. Company insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its holdings in Kodiak Gas Services by 52.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,062 shares of the company’s stock worth $40,000 after acquiring an additional 364 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Kodiak Gas Services by 1,501.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company’s stock worth $42,000 after purchasing an additional 1,156 shares during the last quarter. State of Wyoming lifted its position in shares of Kodiak Gas Services by 201.7% during the 4th quarter. State of Wyoming now owns 1,219 shares of the company’s stock worth $46,000 after purchasing an additional 815 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Kodiak Gas Services by 80.3% during the fourth quarter. GAMMA Investing LLC now owns 1,248 shares of the company’s stock worth $47,000 after purchasing an additional 556 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Kodiak Gas Services by 80.4% during the third quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company’s stock worth $54,000 after purchasing an additional 646 shares in the last quarter. Hedge funds and other 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.