Royal Bank of Canada Boosts Kodiak Gas Services (NYSE:KGS) Price Target to $30.00

Kodiak Gas Services (NYSE:KGS) had its price target raised by Royal Bank of Canada from $28.00 to $30.00 in a research note released on Monday, Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts have also recently issued reports on the stock. Raymond James increased their price objective on shares of Kodiak Gas Services from $30.00 to $32.00 and gave the company an outperform rating in a report on Tuesday, April 16th. The Goldman Sachs Group increased their price objective on shares of Kodiak Gas Services from $27.00 to $31.00 and gave the company a buy rating in a report on Wednesday, April 10th. Truist Financial increased their price objective on shares of Kodiak Gas Services from $28.00 to $32.00 and gave the company a buy rating in a report on Friday, May 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Kodiak Gas Services from $27.00 to $28.00 and gave the company a neutral rating in a report on Thursday, March 21st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $28.14.

Kodiak Gas Services Stock Down 1.5 %

Shares of Kodiak Gas Services stock opened at $26.97 on Monday. The company has a fifty day moving average price of $27.39 and a 200 day moving average price of $23.45. The company has a current ratio of 1.11, a quick ratio of 0.76 and a debt-to-equity ratio of 1.60. Kodiak Gas Services has a twelve month low of $15.05 and a twelve month high of $29.43. The stock has a market cap of $2.27 billion and a price-to-earnings ratio of 30.65.

Kodiak Gas Services (NYSE:KGS) last issued its earnings results on Wednesday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $215.50 million for the quarter, compared to analyst estimates of $220.55 million. Kodiak Gas Services had a net margin of 7.15% and a return on equity of 7.33%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities research analysts forecast that Kodiak Gas Services will post 1.83 earnings per share for the current fiscal year.

Kodiak Gas Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.64%. Kodiak Gas Services’s dividend payout ratio is currently 172.73%.

Insider Activity

In other Kodiak Gas Services news, Director Margaret C. Montana purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were acquired at an average price of $25.25 per share, for a total transaction of $50,500.00. Following the acquisition, the director now owns 16,375 shares of the company’s stock, valued at $413,468.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Kodiak Gas Services by 504.9% in the 3rd quarter. Vanguard Group Inc. now owns 967,799 shares of the company’s stock worth $17,304,000 after purchasing an additional 807,799 shares during the last quarter. Blackstone Inc. grew its position in Kodiak Gas Services by 1,358.3% in the 1st quarter. Blackstone Inc. now owns 644,231 shares of the company’s stock worth $17,613,000 after purchasing an additional 600,055 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Kodiak Gas Services in the 1st quarter worth $11,544,000. Goldman Sachs Group Inc. boosted its position in shares of Kodiak Gas Services by 20.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,279,636 shares of the company’s stock valued at $25,695,000 after acquiring an additional 215,570 shares in the last quarter. Finally, Jennison Associates LLC acquired a new stake in shares of Kodiak Gas Services during the 1st quarter valued at about $5,184,000. 24.95% of the stock is currently owned by institutional investors and hedge funds.

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.