Kodiak Gas Services (NYSE:KGS) Hits New 52-Week High – Time to Buy?

Shares of Kodiak Gas Services, Inc. (NYSE:KGS) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $32.74 and last traded at $32.73, with a volume of 127528 shares trading hands. The stock had previously closed at $32.19.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Redburn Atlantic assumed coverage on Kodiak Gas Services in a research note on Thursday, September 19th. They issued a “buy” rating and a $35.00 target price on the stock. Barclays raised their target price on Kodiak Gas Services from $29.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Truist Financial raised their target price on Kodiak Gas Services from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Royal Bank of Canada raised 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. Finally, Citigroup began coverage on Kodiak Gas Services in a research note on Friday, September 27th. They issued a “buy” rating and a $35.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.73.

Kodiak Gas Services Trading Up 0.4 %

The business has a fifty day moving average of $28.08 and a 200-day moving average of $27.56. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 50.50 and a beta of 0.89. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.05 and a quick ratio of 0.70.

Kodiak Gas Services (NYSE:KGS) last released its 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). The firm had revenue of $309.65 million for the quarter, compared to analyst estimates of $313.88 million. Kodiak Gas Services had a return on equity of 7.20% and a net margin of 5.23%. On average, equities analysts anticipate that Kodiak Gas Services, Inc. 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. Investors of record on Monday, August 12th were issued a dividend of $0.41 per share. 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 yield of 5.07%. The ex-dividend date of this dividend was Monday, August 12th. Kodiak Gas Services’s payout ratio is presently 256.25%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KGS. Goldman Sachs Group Inc. increased its stake in 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 worth $25,695,000 after purchasing an additional 215,570 shares in the last quarter. HITE Hedge Asset Management LLC increased its stake in Kodiak Gas Services by 74.8% in the 2nd 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 in the last quarter. Blackstone Inc. increased 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 purchasing an additional 600,055 shares in the last quarter. American Century Companies Inc. increased its stake in Kodiak Gas Services by 63.2% in the 2nd 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 in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Kodiak Gas Services by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 542,281 shares of the company’s stock worth $14,783,000 after purchasing an additional 7,640 shares in the last quarter. 24.95% of the stock is owned by institutional investors and hedge funds.

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.