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

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

Several other brokerages have also weighed in on KGS. Redburn Atlantic assumed coverage on Kodiak Gas Services in a report on Thursday, September 19th. They issued a buy rating and a $35.00 price objective for the company. Truist Financial boosted 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. Royal Bank of Canada raised their price objective on shares of Kodiak Gas Services from $30.00 to $31.00 and gave the stock an outperform rating in a report on Wednesday, August 21st. Stifel Nicolaus lifted their price target on Kodiak Gas Services from $31.00 to $35.00 and gave the company a buy rating in a research report on Wednesday, August 14th. Finally, Bank of America assumed coverage on Kodiak Gas Services in a report on Wednesday, September 18th. They set a buy rating and a $30.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $32.10.

Kodiak Gas Services Stock Up 1.7 %

Kodiak Gas Services stock opened at $29.24 on Friday. The firm has a 50 day moving average price of $27.44 and a 200-day moving average price of $27.26. The company has a quick ratio of 0.70, a current ratio of 1.05 and a debt-to-equity ratio of 1.70. Kodiak Gas Services has a twelve month low of $16.72 and a twelve month high of $30.52. The company has a market capitalization of $2.46 billion, a P/E ratio of 33.23 and a beta of 0.89.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings data on Monday, August 12th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.29). The firm had revenue of $309.65 million for the quarter, compared to the consensus estimate of $313.88 million. Kodiak Gas Services had a net margin of 5.23% and a return on equity of 7.20%. As a group, equities analysts predict that Kodiak Gas Services will post 1.15 EPS for the current year.

Kodiak Gas Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were issued a $0.41 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.64 annualized dividend and a dividend yield of 5.61%. This is a boost 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

Several hedge funds and other institutional investors have recently modified their holdings of KGS. Security National Bank bought a new stake in Kodiak Gas Services during the second quarter valued at approximately $39,000. HWG Holdings LP purchased a new position in Kodiak Gas Services in the second quarter worth $40,000. PNC Financial Services Group Inc. bought a new position in Kodiak Gas Services in the fourth quarter valued at $46,000. nVerses Capital LLC raised its position in Kodiak Gas Services by 90.9% during the second quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock valued at $57,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Parallel Advisors LLC bought a new stake in Kodiak Gas Services during the fourth quarter worth about $60,000. 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.