Raymond James Financial Inc. Makes New Investment in Kodiak Gas Services, Inc. (NYSE:KGS)

Raymond James Financial Inc. acquired a new stake in Kodiak Gas Services, Inc. (NYSE:KGS) during the fourth quarter, Holdings Channel reports. The fund acquired 6,760 shares of the company’s stock, valued at approximately $276,000.

A number of other large investors have also recently added to or reduced their stakes in KGS. Barclays PLC raised its position in Kodiak Gas Services by 209.3% in the third quarter. Barclays PLC now owns 42,350 shares of the company’s stock valued at $1,228,000 after purchasing an additional 28,658 shares during the period. Tidal Investments LLC acquired a new position in Kodiak Gas Services in the third quarter valued at $598,000. Franklin Resources Inc. acquired a new position in Kodiak Gas Services in the third quarter valued at $1,242,000. JPMorgan Chase & Co. boosted its stake in Kodiak Gas Services by 55.6% in the third quarter. JPMorgan Chase & Co. now owns 110,425 shares of the company’s stock valued at $3,202,000 after acquiring an additional 39,477 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Kodiak Gas Services by 94.7% in the fourth quarter. GAMMA Investing LLC now owns 703 shares of the company’s stock valued at $29,000 after acquiring an additional 342 shares in the last quarter. 24.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on KGS. Citigroup upped their price objective on Kodiak Gas Services from $41.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Mizuho increased their target price on Kodiak Gas Services from $47.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Truist Financial increased their target price on Kodiak Gas Services from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Barclays cut their target price on Kodiak Gas Services from $41.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada set a $45.00 target price on Kodiak Gas Services and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.45.

Kodiak Gas Services Price Performance

Shares of NYSE:KGS opened at $35.56 on Monday. The business’s fifty day moving average price is $35.16 and its two-hundred day moving average price is $39.27. The stock has a market cap of $3.15 billion, a PE ratio of 122.62 and a beta of 1.59. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.93 and a current ratio of 1.27. Kodiak Gas Services, Inc. has a one year low of $24.84 and a one year high of $50.43.

Kodiak Gas Services (NYSE:KGS) last announced its earnings results on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The firm had revenue of $329.64 million for the quarter, compared to analysts’ expectations of $328.45 million. Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. Kodiak Gas Services’s quarterly revenue was up 52.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 EPS. On average, analysts forecast that Kodiak Gas Services, Inc. will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date is Monday, May 5th. This is a boost from Kodiak Gas Services’s previous quarterly dividend of $0.41. Kodiak Gas Services’s dividend payout ratio is 339.62%.

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.