Truist Financial Forecasts Strong Price Appreciation for Kodiak Gas Services (NYSE:KGS) Stock

Kodiak Gas Services (NYSE:KGS) had its price target increased by Truist Financial from $35.00 to $40.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

KGS has been the topic of several other reports. Royal Bank of Canada increased their target price on Kodiak Gas Services from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Bank of America began coverage on Kodiak Gas Services in a report on Wednesday, September 18th. They issued a “buy” rating and a $30.00 price objective for the company. Citigroup assumed coverage on shares of Kodiak Gas Services in a report on Friday, September 27th. They set a “buy” rating and a $35.00 price target on the stock. Barclays boosted their price objective on shares of Kodiak Gas Services from $29.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Mizuho assumed coverage on shares of Kodiak Gas Services in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $36.00 target price for the company. Two research analysts have rated the stock with a hold rating and nine have assigned 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 an average price target of $34.18.

Kodiak Gas Services Stock Up 0.8 %

Kodiak Gas Services stock traded up $0.28 on Friday, hitting $34.83. 857,095 shares of the stock traded hands, compared to its average volume of 514,515. The company has a current ratio of 1.05, a quick ratio of 0.70 and a debt-to-equity ratio of 1.70. The business’s fifty day simple moving average is $30.02 and its 200 day simple moving average is $28.20. The firm has a market cap of $2.94 billion, a P/E ratio of 119.94 and a beta of 0.79. Kodiak Gas Services has a 1 year low of $16.86 and a 1 year high of $35.56.

Kodiak Gas Services (NYSE:KGS) last issued 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 the consensus estimate of $313.88 million. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 8.14%. As a group, sell-side analysts forecast that Kodiak Gas Services will post 1.15 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, November 8th. Shareholders of record on Friday, November 1st were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.71%. The ex-dividend date of this dividend was Friday, November 1st. Kodiak Gas Services’s dividend payout ratio is currently 565.54%.

Institutional Trading of Kodiak Gas Services

Several institutional investors and hedge funds have recently modified their holdings of KGS. Blackstone Inc. increased its holdings in Kodiak Gas Services by 1,358.3% in the 1st quarter. Blackstone Inc. now owns 644,231 shares of the company’s stock valued at $17,613,000 after acquiring an additional 600,055 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Kodiak Gas Services during the 1st quarter valued at about $11,544,000. HITE Hedge Asset Management LLC boosted its holdings in shares of Kodiak Gas Services by 74.8% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 780,600 shares of the company’s stock worth $21,279,000 after purchasing an additional 334,086 shares during the period. American Century Companies Inc. boosted its stake in Kodiak Gas Services by 63.2% during the second quarter. American Century Companies Inc. now owns 575,371 shares of the company’s stock worth $15,685,000 after buying an additional 222,830 shares during the period. Finally, Pier Capital LLC bought a new position in shares of Kodiak Gas Services during the second quarter valued at approximately $4,558,000. 24.95% of the stock is currently owned by institutional investors.

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.