Kodiak Gas Services (NYSE:KGS) Shares Down 4.7%

Kodiak Gas Services, Inc. (NYSE:KGS) dropped 4.7% during mid-day trading on Monday . The stock traded as low as $25.33 and last traded at $25.39. Approximately 444,842 shares changed hands during trading, a decline of 4% from the average daily volume of 465,707 shares. The stock had previously closed at $26.63.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KGS. Royal Bank of Canada lifted their price target on Kodiak Gas Services from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Stifel Nicolaus lifted their target price on Kodiak Gas Services from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Truist Financial increased their price target on shares of Kodiak Gas Services from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, Barclays assumed coverage on shares of Kodiak Gas Services in a research report on Wednesday, July 17th. They issued an “equal weight” rating and a $29.00 price objective on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.57.

Kodiak Gas Services Stock Performance

The company has a market capitalization of $2.22 billion, a PE ratio of 29.83 and a beta of 0.90. The company has a quick ratio of 0.70, a current ratio of 1.05 and a debt-to-equity ratio of 1.70. The business has a 50 day simple moving average of $27.29 and a 200 day simple moving average of $27.01.

Kodiak Gas Services (NYSE:KGS) last released its 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). Kodiak Gas Services had a return on equity of 7.20% and a net margin of 5.23%. The company had revenue of $309.65 million for the quarter, compared to analysts’ expectations of $313.88 million. Equities research analysts predict that Kodiak Gas Services, Inc. will post 1.79 EPS for the current fiscal year.

Kodiak Gas Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 12th were issued a $0.41 dividend. The ex-dividend date of this dividend was Monday, August 12th. This is a positive change from Kodiak Gas Services’s previous quarterly dividend of $0.38. This represents a $1.64 dividend on an annualized basis and a dividend yield of 6.25%. Kodiak Gas Services’s dividend payout ratio is currently 186.37%.

Hedge Funds Weigh In On Kodiak Gas Services

Institutional investors have recently bought and sold shares of the business. Security National Bank purchased a new position in shares of Kodiak Gas Services during the second quarter worth $39,000. HWG Holdings LP acquired a new stake in Kodiak Gas Services during the second quarter worth about $40,000. nVerses Capital LLC raised its position in Kodiak Gas Services by 90.9% during the second quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock valued at $57,000 after acquiring an additional 1,000 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in Kodiak Gas Services in the fourth quarter valued at approximately $46,000. Finally, Parallel Advisors LLC purchased a new stake in Kodiak Gas Services in the 4th quarter worth approximately $60,000. 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.