Brokerages Set Kodiak Gas Services, Inc. (NYSE:KGS) Price Target at $78.89

Kodiak Gas Services, Inc. (NYSE:KGS) has earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $78.8889.

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Kodiak Gas Services in a research note on Wednesday, August 26th. Jefferies Financial Group reduced their price objective on shares of Kodiak Gas Services from $79.00 to $69.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Stifel Nicolaus increased their price objective on shares of Kodiak Gas Services from $90.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Royal Bank Of Canada boosted their target price on shares of Kodiak Gas Services from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. Finally, Wells Fargo & Company assumed coverage on shares of Kodiak Gas Services in a research report on Wednesday, May 27th. They set an “overweight” rating and a $93.00 price target for the company.

Insider Transactions at Kodiak Gas Services

In other news, CEO Robert McKee sold 6,008 shares of Kodiak Gas Services stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $62.39, for a total value of $374,839.12. Following the sale, the chief executive officer directly owned 298,589 shares of the company’s stock, valued at $18,628,967.71. The trade was a 1.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Pedro R. Buhigas sold 3,663 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $58.14, for a total value of $212,966.82. Following the sale, the insider owned 32,413 shares of the company’s stock, valued at $1,884,491.82. The trade was a 10.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 21,839 shares of company stock worth $1,359,599 over the last three months. 0.64% of the stock is owned by insiders.

Institutional Investors Weigh In On Kodiak Gas Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisors Preferred LLC acquired a new position in Kodiak Gas Services during the second quarter worth about $1,986,000. Crown Advisors Management Inc. acquired a new stake in Kodiak Gas Services in the 2nd quarter valued at about $4,508,000. Hsbc Holdings PLC purchased a new position in Kodiak Gas Services in the 2nd quarter worth approximately $2,486,000. HighTower Advisors LLC boosted its holdings in shares of Kodiak Gas Services by 40.5% during the 4th quarter. HighTower Advisors LLC now owns 57,699 shares of the company’s stock worth $2,158,000 after purchasing an additional 16,619 shares during the last quarter. Finally, Seven Grand Managers LLC boosted its holdings in shares of Kodiak Gas Services by 400.0% during the 4th quarter. Seven Grand Managers LLC now owns 500,000 shares of the company’s stock worth $18,700,000 after purchasing an additional 400,000 shares during the last quarter. Institutional investors and hedge funds own 24.95% of the company’s stock.

Kodiak Gas Services Stock Performance

NYSE KGS opened at $58.78 on Wednesday. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 69.98, a PEG ratio of 0.86 and a beta of 0.96. The stock has a 50-day moving average of $61.32 and a 200 day moving average of $63.99. The company has a current ratio of 1.45, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28. Kodiak Gas Services has a twelve month low of $32.55 and a twelve month high of $77.68.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.12). The business had revenue of $391.12 million during the quarter, compared to analyst estimates of $386.30 million. Kodiak Gas Services had a net margin of 5.77% and a return on equity of 11.92%. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 earnings per share. Sell-side analysts anticipate that Kodiak Gas Services will post 2.44 EPS for the current fiscal year.

Kodiak Gas Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Monday, August 17th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, August 17th. Kodiak Gas Services’s payout ratio is 233.33%.

About Kodiak Gas Services

Kodiak Gas Services, Inc (NYSE: KGS) provides natural gas compression services to producers, processors, gatherers and other midstream companies in the United States. Its compression equipment increases and maintains the pressure of natural gas as it moves from production sites through gathering systems, processing facilities and pipelines.

The company primarily operates under long-term contracts and offers compression-as-a-service solutions. Its services include the design, installation, operation, maintenance, repair and overhaul of natural gas compression equipment.