Kodiak Gas Services (NYSE:KGS) Sees Unusually-High Trading Volume – Here’s What Happened

Kodiak Gas Services, Inc. (NYSE:KGS) shares saw unusually-high trading volume on Thursday . Approximately 482,830 shares traded hands during mid-day trading, a decline of 12% from the previous session’s volume of 546,365 shares.The stock last traded at $41.62 and had previously closed at $43.54.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KGS. Mizuho assumed coverage on Kodiak Gas Services in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $36.00 target price for the company. Citigroup began coverage on shares of Kodiak Gas Services in a report on Friday, September 27th. They issued a “buy” rating and a $35.00 price objective on the stock. Truist Financial increased their target price on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. The Goldman Sachs Group lifted their price target on shares of Kodiak Gas Services from $32.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada upped their price objective on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.09.

Kodiak Gas Services Price Performance

The company’s 50-day moving average price is $35.75 and its 200-day moving average price is $30.28. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 1.86. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 141.21 and a beta of 1.14.

Kodiak Gas Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were given a $0.41 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.64 annualized dividend and a yield of 4.00%. Kodiak Gas Services’s dividend payout ratio is presently 565.54%.

Insiders Place Their Bets

In related news, insider Ewan William Hamilton sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $40.45, for a total value of $121,350.00. Following the sale, the insider now owns 31,745 shares of the company’s stock, valued at $1,284,085.25. This trade represents a 8.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Security National Bank acquired a new stake in shares of Kodiak Gas Services in the 2nd quarter valued at $39,000. HWG Holdings LP acquired a new stake in Kodiak Gas Services in the second quarter valued at $40,000. nVerses Capital LLC lifted its holdings in Kodiak Gas Services by 90.9% during the 2nd quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock worth $57,000 after buying an additional 1,000 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Kodiak Gas Services during the 3rd quarter worth about $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Kodiak Gas Services by 115.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,691 shares of the company’s stock worth $155,000 after acquiring an additional 3,045 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.