Kodiak Gas Services, Inc. (NYSE:KGS) Sees Large Increase in Short Interest

Kodiak Gas Services, Inc. (NYSE:KGS) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 4,710,000 shares, a growth of 24.6% from the February 28th total of 3,780,000 shares. Based on an average daily volume of 1,150,000 shares, the short-interest ratio is currently 4.1 days. Currently, 9.4% of the company’s stock are sold short.

Kodiak Gas Services Stock Up 2.9 %

Shares of NYSE:KGS opened at $38.73 on Thursday. The firm has a fifty day moving average price of $41.92 and a two-hundred day moving average price of $38.60. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 133.56 and a beta of 1.52. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.27 and a quick ratio of 0.93. Kodiak Gas Services has a one year low of $24.84 and a one year high of $50.43.

Kodiak Gas Services (NYSE:KGS) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.15). The business had revenue of $309.52 million for the quarter, compared to the consensus estimate of $323.82 million. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 7.91%. Analysts anticipate that Kodiak Gas Services will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend was Friday, February 14th. Kodiak Gas Services’s dividend payout ratio (DPR) is 277.97%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barclays dropped their target price on shares of Kodiak Gas Services from $44.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Royal Bank of Canada set a $45.00 price objective on Kodiak Gas Services and gave the company an “outperform” rating in a research note on Tuesday, March 11th. Mizuho increased their target price on shares of Kodiak Gas Services from $47.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Truist Financial upped their price target on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Finally, Raymond James reiterated an “outperform” rating on shares of Kodiak Gas Services in a research note on Friday, March 7th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Kodiak Gas Services has a consensus rating of “Moderate Buy” and a consensus price target of $41.91.

Insiders Place Their Bets

In other news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $47.50, for a total value of $177,112,157.50. Following the completion of the sale, the insider now owns 34,771,323 shares in the company, valued at $1,651,637,842.50. This represents a 9.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Kodiak Gas Services

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in shares of Kodiak Gas Services by 94.7% in the 4th quarter. GAMMA Investing LLC now owns 703 shares of the company’s stock worth $29,000 after buying an additional 342 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its position in Kodiak Gas Services by 3.4% in the third quarter. B. Riley Wealth Advisors Inc. now owns 12,455 shares of the company’s stock worth $371,000 after acquiring an additional 405 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in Kodiak Gas Services by 1.6% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 32,400 shares of the company’s stock valued at $1,323,000 after acquiring an additional 500 shares during the last quarter. United Advisor Group LLC raised its position in Kodiak Gas Services by 4.4% during the fourth quarter. United Advisor Group LLC now owns 12,281 shares of the company’s stock valued at $501,000 after purchasing an additional 519 shares in the last quarter. Finally, Amalgamated Bank raised its position in Kodiak Gas Services by 112.6% during the fourth quarter. Amalgamated Bank now owns 1,110 shares of the company’s stock valued at $45,000 after purchasing an additional 588 shares in 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.