Citigroup Begins Coverage on Kodiak Gas Services (NYSE:KGS)

Citigroup started coverage on shares of Kodiak Gas Services (NYSE:KGS) in a report issued on Friday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $35.00 price objective on the stock.

A number of other brokerages have also recently weighed in on KGS. Barclays began coverage on Kodiak Gas Services in a research report on Wednesday, July 17th. They issued an equal weight rating and a $29.00 price target for the company. Bank of America assumed coverage on shares of Kodiak Gas Services in a report on Wednesday, September 18th. They set a buy rating and a $30.00 target price for the company. Redburn Atlantic initiated coverage on shares of Kodiak Gas Services in a report on Thursday, September 19th. They issued a buy rating and a $35.00 price target on the stock. Truist Financial raised their price objective on shares of Kodiak Gas Services from $32.00 to $35.00 and gave the stock a buy rating in a research note on Thursday, August 15th. Finally, Royal Bank of Canada upped their target price on Kodiak Gas Services from $30.00 to $31.00 and gave the company an outperform rating in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $32.10.

Kodiak Gas Services Trading Down 0.8 %

Shares of KGS opened at $29.00 on Friday. Kodiak Gas Services has a twelve month low of $16.72 and a twelve month high of $30.52. 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 firm has a market capitalization of $2.44 billion, a P/E ratio of 32.95 and a beta of 0.89. The firm’s 50-day moving average is $27.45 and its two-hundred day moving average is $27.28.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings results on Monday, August 12th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $309.65 million during the quarter, compared to analyst estimates of $313.88 million. On average, research analysts predict that Kodiak Gas Services will post 1.15 earnings per share for the current fiscal year.

Kodiak Gas Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were paid a $0.41 dividend. This is a boost from Kodiak Gas Services’s previous quarterly dividend of $0.38. This represents a $1.64 annualized dividend and a yield of 5.66%. The ex-dividend date was Monday, August 12th. Kodiak Gas Services’s payout ratio is presently 186.36%.

Hedge Funds Weigh In On Kodiak Gas Services

Several institutional investors have recently added to or reduced their stakes in the business. Blackstone Inc. boosted its stake in Kodiak Gas Services by 1,358.3% in the 1st quarter. Blackstone Inc. now owns 644,231 shares of the company’s stock worth $17,613,000 after buying an additional 600,055 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Kodiak Gas Services in the first quarter valued at approximately $11,544,000. HITE Hedge Asset Management LLC increased its position in Kodiak Gas Services by 74.8% during the second 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 last quarter. American Century Companies Inc. raised 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 purchasing an additional 222,830 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Kodiak Gas Services by 20.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,279,636 shares of the company’s stock valued at $25,695,000 after purchasing an additional 215,570 shares during the last quarter. 24.95% of the stock is currently owned by institutional investors and hedge funds.

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.