Kodiak Gas Services (NYSE:KGS) Stock Price Target Lowered at Citigroup

Kodiak Gas Services (NYSE:KGS) had its price objective lowered by equities research analysts at Citigroup from $82.00 to $75.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup‘s target price suggests a potential upside of 67.22% from the stock’s previous close.

Other research analysts have also issued reports about the stock. UBS Group restated a “buy” rating on shares of Kodiak Gas Services in a research note on Friday, October 16th. Barclays decreased their target price on shares of Kodiak Gas Services from $72.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, October 5th. Mizuho lowered their price target on Kodiak Gas Services from $72.00 to $68.00 and set an “outperform” rating on the stock in a report on Tuesday. Piper Sandler started coverage on Kodiak Gas Services in a research report on Tuesday, July 28th. They issued an “overweight” rating and a $78.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on Kodiak Gas Services from $79.00 to $78.00 and set an “overweight” rating for the company in a research note on Thursday, October 8th. Fourteen investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $75.92.

Kodiak Gas Services Stock Performance

NYSE KGS traded up $0.99 on Thursday, reaching $44.85. The stock had a trading volume of 192,076 shares, compared to its average volume of 1,755,864. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.31. Kodiak Gas Services has a 12-month low of $32.55 and a 12-month high of $77.68. The business’s 50-day moving average price is $51.95 and its 200 day moving average price is $59.14. The stock has a market cap of $4.55 billion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 0.69 and a beta of 1.07.

Kodiak Gas Services (NYSE:KGS) last announced its earnings results on Monday, November 9th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. The business had revenue of $401.79 million for the quarter, compared to analyst estimates of $387.50 million. Kodiak Gas Services had a net margin of 11.28% and a return on equity of 12.62%. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. As a group, equities analysts expect that Kodiak Gas Services will post 2.46 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Pedro R. Buhigas sold 3,663 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $58.14, for a total transaction of $212,966.82. Following the sale, the insider owned 32,413 shares of the company’s stock, valued at $1,884,491.82. The trade was a 10.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert McKee sold 2,666 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $45.55, for a total value of $121,436.30. Following the completion of the sale, the chief executive officer owned 287,258 shares in the company, valued at approximately $13,084,601.90. This represents a 0.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 23,002 shares of company stock valued at $1,325,334. Corporate insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Kodiak Gas Services

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Kodiak Gas Services in the second quarter valued at $1,142,139,000. Bank of America Corp DE acquired a new stake in Kodiak Gas Services in the 2nd quarter valued at about $109,850,000. Kayne Anderson Capital Advisors LP purchased a new position in Kodiak Gas Services during the 2nd quarter valued at about $84,821,000. Wellington Management Group LLP increased its holdings in Kodiak Gas Services by 85.0% during the 2nd quarter. Wellington Management Group LLP now owns 2,432,174 shares of the company’s stock valued at $182,729,000 after acquiring an additional 1,117,743 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Kodiak Gas Services during the second quarter worth about $73,623,000. 24.95% of the stock is owned by institutional investors and hedge funds.

Kodiak Gas Services Company Profile

Kodiak Gas Services provides contract natural gas compression services to energy companies in the United States. Its equipment helps move natural gas from production sites through gathering and processing systems and into pipelines. The company supplies, installs, operates and maintains compression equipment, including large-horsepower compressor units. Its services support natural gas production and transportation across major U.S. oil and gas regions. Based in The Woodlands, Texas, Kodiak became a publicly traded company in 2023.