Kodiak Gas Services, Inc. (NYSE:KGS) Short Interest Up 5.7% in July

Kodiak Gas Services, Inc. (NYSE:KGS) was the recipient of a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 1,680,000 shares, an increase of 5.7% from the June 30th total of 1,590,000 shares. Currently, 7.6% of the company’s stock are short sold. Based on an average daily trading volume, of 390,300 shares, the short-interest ratio is currently 4.3 days.

Kodiak Gas Services Stock Performance

NYSE:KGS traded down $0.97 during trading hours on Thursday, reaching $27.88. 964,082 shares of the company’s stock were exchanged, compared to its average volume of 438,512. The firm has a market capitalization of $2.35 billion and a price-to-earnings ratio of 31.99. The company has a 50-day moving average of $27.07 and a 200 day moving average of $26.28. The company has a quick ratio of 0.76, a current ratio of 1.11 and a debt-to-equity ratio of 1.60. Kodiak Gas Services has a 1-year low of $16.72 and a 1-year high of $29.75.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The firm had revenue of $215.50 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 13.4% on a year-over-year basis. Research analysts anticipate that Kodiak Gas Services will post 1.81 EPS for the current year.

Hedge Funds Weigh In On Kodiak Gas Services

Large investors have recently bought and sold shares of the company. Security National Bank purchased a new position in shares of Kodiak Gas Services in the 2nd quarter valued at about $39,000. PNC Financial Services Group Inc. purchased a new position in shares of Kodiak Gas Services in the 4th quarter valued at about $46,000. nVerses Capital LLC increased its holdings in shares of Kodiak Gas Services by 90.9% in the 2nd quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock valued at $57,000 after purchasing an additional 1,000 shares in the last quarter. Parallel Advisors LLC purchased a new position in shares of Kodiak Gas Services in the 4th quarter valued at about $60,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Kodiak Gas Services in the 4th quarter valued at about $127,000. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on KGS shares. The Goldman Sachs Group upped their target price on shares of Kodiak Gas Services from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Royal Bank of Canada boosted their price target on shares of Kodiak Gas Services from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, May 20th. Truist Financial boosted their price target on shares of Kodiak Gas Services from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Raymond James boosted their price target on shares of Kodiak Gas Services from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Finally, Barclays began coverage on shares of Kodiak Gas Services in a report on Wednesday, July 17th. They set an “equal weight” rating and a $29.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Kodiak Gas Services has an average rating of “Moderate Buy” and an average target price of $30.33.

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.