Kodiak Gas Services (NYSE:KGS) Stock Rating Cut to “Strong Sell” at Zacks Research

Kodiak Gas Services (NYSE:KGS) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, Zacks reports.

Other research analysts also recently issued research reports about the company. Royal Bank Of Canada dropped their price target on Kodiak Gas Services from $88.00 to $82.00 and set an “outperform” rating for the company in a research note on Friday, October 16th. JPMorgan Chase & Co. reduced their price objective on shares of Kodiak Gas Services from $79.00 to $78.00 and set an “overweight” rating on the stock in a research note on Thursday, October 8th. Jefferies Financial Group reduced their price objective on shares of Kodiak Gas Services from $69.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. Stifel Nicolaus raised their target price 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. Finally, Barclays dropped their target price on shares of Kodiak Gas Services from $72.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell 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 $79.18.

Kodiak Gas Services Price Performance

Shares of NYSE KGS opened at $48.10 on Tuesday. The business has a fifty day moving average price of $55.12 and a two-hundred day moving average price of $58.84. The stock has a market capitalization of $4.88 billion, a PE ratio of 57.26 and a beta of 1.01. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.45 and a quick ratio of 1.15. Kodiak Gas Services has a fifty-two week low of $32.55 and a fifty-two week high of $77.68.

Kodiak Gas Services (NYSE:KGS) last released its earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.12). The company had revenue of $391.12 million for the quarter, compared to analyst estimates of $386.30 million. Kodiak Gas Services had a return on equity of 11.92% and a net margin of 5.77%. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period last year, the company posted $0.43 earnings per share. As a group, equities analysts predict that Kodiak Gas Services will post 2.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Kodiak Gas Services

In other news, insider Pedro Buhigas sold 3,663 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $58.14, for a total transaction of $212,966.82. Following the completion of the transaction, the insider owned 32,413 shares of the company’s stock, valued at approximately $1,884,491.82. This trade represents a 10.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert McKee sold 6,008 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $62.39, for a total value of $374,839.12. Following the completion of the sale, the chief executive officer 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. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 20,336 shares of company stock worth $1,203,897. 0.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Hanseatic Management Services Inc. grew its stake in Kodiak Gas Services by 2.0% during the third quarter. Hanseatic Management Services Inc. now owns 15,633 shares of the company’s stock worth $828,000 after purchasing an additional 310 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Kodiak Gas Services by 29.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,545 shares of the company’s stock valued at $90,000 after acquiring an additional 352 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Kodiak Gas Services during the 2nd quarter valued at $29,000. GAMMA Investing LLC increased its position in shares of Kodiak Gas Services by 20.8% during the second quarter. GAMMA Investing LLC now owns 2,646 shares of the company’s stock worth $199,000 after acquiring an additional 456 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Kodiak Gas Services by 0.4% during the 1st quarter. Swiss National Bank now owns 169,500 shares of the company’s stock worth $9,885,000 after purchasing an additional 600 shares in the last quarter. 24.95% of the stock is owned by institutional investors.

About Kodiak Gas Services

Kodiak Gas Services, Inc (NYSE: KGS) provides contract compression and related infrastructure services to the North American oil and gas industry. The company helps producers and midstream operators move natural gas through gathering systems, processing facilities and pipelines by supplying compression equipment and operating it under long-term service arrangements.

Its services include the design, installation, operation and maintenance of natural gas compression systems. Kodiak owns and manages a fleet of compression units that can be deployed across a range of applications, including natural gas gathering and processing.