Kodiak Gas Services (NYSE:KGS) Earns Buy Rating from Analysts at Bank of America

Bank of America assumed coverage on shares of Kodiak Gas Services (NYSE:KGS) in a report released on Wednesday, MarketBeat Ratings reports. The firm issued a buy rating and a $30.00 price objective on the stock.

KGS has been the topic of a number of other research reports. Truist Financial upped 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. Stifel Nicolaus upped their price objective on shares of Kodiak Gas Services from $31.00 to $35.00 and gave the company a buy rating in a report on Wednesday, August 14th. 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, Barclays initiated coverage on Kodiak Gas Services in a research note on Wednesday, July 17th. They set an equal weight rating and a $29.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $31.78.

Kodiak Gas Services Stock Performance

NYSE:KGS opened at $29.58 on Wednesday. The stock’s 50-day moving average is $27.38 and its 200-day moving average is $27.12. Kodiak Gas Services has a 1-year low of $16.72 and a 1-year high of $29.91. 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 stock has a market cap of $2.49 billion, a P/E ratio of 33.61 and a beta of 0.90.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings results on Monday, August 12th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The business 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%. Equities research analysts anticipate that Kodiak Gas Services will post 1.15 earnings per share for the current year.

Kodiak Gas Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 12th were paid a $0.41 dividend. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.38. The ex-dividend date was Monday, August 12th. This represents a $1.64 annualized dividend and a yield of 5.54%. Kodiak Gas Services’s dividend payout ratio is presently 186.36%.

Institutional Investors Weigh In On Kodiak Gas Services

Several large investors have recently added to or reduced their stakes in the company. Swiss National Bank bought a new position in shares of Kodiak Gas Services in the fourth quarter worth $920,000. Parallel Advisors LLC bought a new position in Kodiak Gas Services in the 4th quarter worth about $60,000. Tortoise Index Solutions LLC grew its holdings in Kodiak Gas Services by 12.9% during the 4th quarter. Tortoise Index Solutions LLC now owns 21,488 shares of the company’s stock valued at $431,000 after buying an additional 2,448 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Kodiak Gas Services by 20.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,279,636 shares of the company’s stock valued at $25,695,000 after buying an additional 215,570 shares during the period. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of Kodiak Gas Services in the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 24.95% of the company’s stock.

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.