Kodiak Gas Services (NYSE:KGS) Reaches New 52-Week High – Here’s Why

Kodiak Gas Services, Inc. (NYSE:KGS)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $60.20 and last traded at $60.3430, with a volume of 222542 shares changing hands. The stock had previously closed at $59.17.

Analyst Upgrades and Downgrades

KGS has been the topic of several research analyst reports. Royal Bank Of Canada lifted their target price on Kodiak Gas Services from $45.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, March 19th. Wall Street Zen upgraded shares of Kodiak Gas Services from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kodiak Gas Services in a research report on Monday, December 29th. Citigroup increased their price objective on Kodiak Gas Services from $53.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Finally, Mizuho boosted their target price on shares of Kodiak Gas Services from $36.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $54.57.

Kodiak Gas Services Trading Up 1.8%

The company has a debt-to-equity ratio of 2.12, a current ratio of 0.84 and a quick ratio of 0.57. The firm has a market cap of $5.17 billion, a P/E ratio of 69.24 and a beta of 0.96. The company’s 50 day moving average is $53.20 and its two-hundred day moving average is $42.01.

Kodiak Gas Services (NYSE:KGS) last posted its earnings results on Wednesday, February 25th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.13). Kodiak Gas Services had a return on equity of 11.55% and a net margin of 6.16%.The company had revenue of $332.87 million for the quarter, compared to the consensus estimate of $330.95 million. During the same quarter last year, the business earned $0.21 EPS. Kodiak Gas Services’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts predict that Kodiak Gas Services, Inc. will post 1.12 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 13th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, February 13th. Kodiak Gas Services’s dividend payout ratio (DPR) is currently 225.29%.

Insider Transactions at Kodiak Gas Services

In other Kodiak Gas Services news, CAO Ewan William Hamilton sold 5,797 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $56.18, for a total transaction of $325,675.46. Following the completion of the sale, the chief accounting officer directly owned 34,346 shares of the company’s stock, valued at approximately $1,929,558.28. The trade was a 14.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Randall J. Hogan acquired 6,000 shares of Kodiak Gas Services stock in a transaction on Friday, March 13th. The stock was acquired at an average cost of $54.81 per share, for a total transaction of $328,860.00. Following the completion of the purchase, the director owned 28,406 shares of the company’s stock, valued at approximately $1,556,932.86. The trade was a 26.78% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 11,433 shares of company stock worth $624,360 and have sold 58,673 shares worth $3,269,110. 0.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kodiak Gas Services

Several hedge funds have recently added to or reduced their stakes in KGS. Van ECK Associates Corp grew its position in shares of Kodiak Gas Services by 0.9% during the 4th quarter. Van ECK Associates Corp now owns 23,640 shares of the company’s stock worth $884,000 after buying an additional 209 shares during the period. United Advisor Group LLC grew its holdings in Kodiak Gas Services by 2.0% during the fourth quarter. United Advisor Group LLC now owns 15,817 shares of the company’s stock valued at $592,000 after purchasing an additional 304 shares during the period. Comerica Bank increased its stake in Kodiak Gas Services by 1.8% in the fourth quarter. Comerica Bank now owns 20,499 shares of the company’s stock valued at $767,000 after purchasing an additional 357 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Kodiak Gas Services by 52.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,062 shares of the company’s stock worth $40,000 after purchasing an additional 364 shares during the period. Finally, Aurora Investment Counsel boosted its position in shares of Kodiak Gas Services by 0.6% during the fourth quarter. Aurora Investment Counsel now owns 67,192 shares of the company’s stock worth $2,513,000 after purchasing an additional 397 shares in the last quarter. Institutional investors and hedge funds 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.