Kodiak Gas Services (NYSE:KGS) Shares Down 4.7%

Kodiak Gas Services, Inc. (NYSE:KGS)’s stock price fell 4.7% on Monday . The company traded as low as $25.33 and last traded at $25.39. 444,842 shares traded hands during trading, a decline of 4% from the average session volume of 465,707 shares. The stock had previously closed at $26.63.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Truist Financial lifted their price target on shares of Kodiak Gas Services from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Barclays assumed coverage on Kodiak Gas Services in a report on Wednesday, July 17th. They issued an “equal weight” rating and a $29.00 target price on the stock. Stifel Nicolaus increased their price target on Kodiak Gas Services from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada lifted their price objective on Kodiak Gas Services from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kodiak Gas Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.57.

Kodiak Gas Services Stock Down 0.2 %

The company has a market capitalization of $2.22 billion, a P/E ratio of 29.83 and a beta of 0.90. The company has a 50 day simple moving average of $27.29 and a two-hundred day simple moving average of $27.01. The company has a quick ratio of 0.70, a current ratio of 1.05 and a debt-to-equity ratio of 1.70.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings results on Monday, August 12th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.29). The company had revenue of $309.65 million for the quarter, compared to analysts’ expectations of $313.88 million. Kodiak Gas Services had a net margin of 5.23% and a return on equity of 7.20%. As a group, equities analysts predict that Kodiak Gas Services, Inc. will post 1.79 EPS for the current year.

Kodiak Gas Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 12th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 6.25%. The ex-dividend date of this dividend was Monday, August 12th. This is a positive change from Kodiak Gas Services’s previous quarterly dividend of $0.38. Kodiak Gas Services’s dividend payout ratio (DPR) is 186.37%.

Institutional Investors Weigh In On Kodiak Gas Services

Hedge funds and other institutional investors have recently modified their holdings of the business. U.S. Capital Wealth Advisors LLC bought a new position in Kodiak Gas Services in the 2nd quarter valued at $913,000. Quantbot Technologies LP increased its stake in Kodiak Gas Services by 345.3% in the 1st quarter. Quantbot Technologies LP now owns 45,403 shares of the company’s stock worth $1,241,000 after buying an additional 35,208 shares during the period. Jennison Associates LLC purchased a new stake in Kodiak Gas Services in the 1st quarter valued at about $5,184,000. Public Employees Retirement System of Ohio bought a new position in Kodiak Gas Services in the 1st quarter worth about $1,046,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Kodiak Gas Services during the first quarter worth approximately $11,544,000. 24.95% of the stock is currently 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.