Kodiak Gas Services (NYSE:KGS) PT Raised to $35.00 at Royal Bank of Canada

Kodiak Gas Services (NYSE:KGS) had its price target increased by Royal Bank of Canada from $31.00 to $35.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the company. Stifel Nicolaus boosted their price target on Kodiak Gas Services from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Barclays boosted their target price on Kodiak Gas Services from $29.00 to $32.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Redburn Atlantic assumed coverage on Kodiak Gas Services in a report on Thursday, September 19th. They set a “buy” rating and a $35.00 price target for the company. Mizuho initiated coverage on shares of Kodiak Gas Services in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $36.00 price target on the stock. Finally, Citigroup assumed coverage on shares of Kodiak Gas Services in a research report on Friday, September 27th. They set a “buy” rating and a $35.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Kodiak Gas Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.09.

Kodiak Gas Services Stock Performance

Shares of Kodiak Gas Services stock opened at $31.39 on Wednesday. Kodiak Gas Services has a 12 month low of $16.72 and a 12 month high of $32.77. The firm has a market capitalization of $2.65 billion, a P/E ratio of 35.67 and a beta of 0.89. 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 has a fifty day simple moving average of $28.28 and a two-hundred day simple moving average of $27.63.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings results on Monday, August 12th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). Kodiak Gas Services had a net margin of 5.23% and a return on equity of 7.20%. The business had revenue of $309.65 million for the quarter, compared to analysts’ expectations of $313.88 million. On average, equities analysts forecast that Kodiak Gas Services will post 1.15 earnings per share for the current fiscal year.

Kodiak Gas Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 12th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date was Monday, August 12th. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.38. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 186.36%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Security National Bank purchased a new stake in Kodiak Gas Services in the second quarter worth approximately $39,000. HWG Holdings LP purchased a new stake in Kodiak Gas Services during the 2nd quarter valued at $40,000. PNC Financial Services Group Inc. bought a new position in shares of Kodiak Gas Services during the 4th quarter valued at $46,000. nVerses Capital LLC boosted its stake 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 worth $57,000 after buying an additional 1,000 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Kodiak Gas Services in the third quarter worth $125,000. 24.95% of the stock is owned by hedge funds and other 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.