Kodiak Gas Services (NYSE:KGS) Price Target Cut to $66.00 by Analysts at Wells Fargo & Company

Kodiak Gas Services (NYSE:KGS) had its price objective lowered by Wells Fargo & Company from $93.00 to $66.00 in a research report report published on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also weighed in on the company. UBS Group reaffirmed a “buy” rating on shares of Kodiak Gas Services in a research report on Friday, October 16th. Citigroup cut their price objective on Kodiak Gas Services from $82.00 to $75.00 and set a “buy” rating for the company in a report on Thursday. Barclays decreased 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 note on Monday, October 5th. Piper Sandler assumed coverage on shares of Kodiak Gas Services in a report on Tuesday, July 28th. They set an “overweight” rating and a $78.00 target price on the stock. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Kodiak Gas Services in a report on Wednesday, August 26th. Fourteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Kodiak Gas Services presently has a consensus rating of “Moderate Buy” and an average target price of $73.67.

Kodiak Gas Services Stock Up 0.5%

Kodiak Gas Services stock traded up $0.23 during mid-day trading on Friday, reaching $44.63. The company’s stock had a trading volume of 2,155,222 shares, compared to its average volume of 2,249,255. The business’s 50 day simple moving average is $51.26 and its 200 day simple moving average is $59.18. Kodiak Gas Services has a 12 month low of $32.55 and a 12 month high of $77.68. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.31. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 0.72 and a beta of 1.07.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings data on Monday, November 9th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.08. The company had revenue of $401.79 million during the quarter, compared to analysts’ expectations of $387.50 million. Kodiak Gas Services had a return on equity of 12.62% and a net margin of 11.28%. Kodiak Gas Services’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 EPS. As a group, research analysts anticipate that Kodiak Gas Services will post 2.47 earnings per share for the current year.

Kodiak Gas Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Monday, November 16th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, November 16th. This is a positive change from Kodiak Gas Services’s previous quarterly dividend of $0.49. Kodiak Gas Services’s payout ratio is presently 114.62%.

Insiders Place Their Bets

In other Kodiak Gas Services news, COO William Lenamon sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $53.25, for a total transaction of $53,250.00. Following the completion of the sale, the chief operating officer directly owned 84,294 shares in the company, valued at $4,488,655.50. This trade represents a 1.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Alexander Darden acquired 10,000 shares of the business’s stock in a transaction on Wednesday, November 11th. The shares were bought at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the transaction, the director directly owned 17,135 shares of the company’s stock, valued at approximately $770,903.65. The trade was a 140.15% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 12,145 shares of company stock worth $544,116 and have sold 24,002 shares worth $1,369,534. Corporate insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Kodiak Gas Services

A number of large investors have recently made changes to their positions in KGS. BlackRock Inc. bought a new stake in Kodiak Gas Services in the 2nd quarter valued at $1,142,139,000. Wellington Management Group LLP increased its position in Kodiak Gas Services by 85.0% during the 2nd quarter. Wellington Management Group LLP now owns 2,432,174 shares of the company’s stock worth $182,729,000 after buying an additional 1,117,743 shares during the period. Dimensional Fund Advisors LP increased its position in Kodiak Gas Services by 4.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,105,555 shares of the company’s stock worth $181,108,000 after buying an additional 135,998 shares during the period. Bank of America Corp DE acquired a new stake in shares of Kodiak Gas Services during the second quarter worth $109,850,000. Finally, Kayne Anderson Capital Advisors LP acquired a new stake in shares of Kodiak Gas Services during the second quarter worth $84,821,000. Institutional investors own 24.95% of the company’s stock.

Top Kodiak Gas Services Stories

These are some of the KGS stories that stood out recently:

• Positive Sentiment: Three directors bought shares: Alexander Darden acquired 10,000 shares for about $449,900, while Gretchen Lynn Holloway and Margaret Montana bought 1,145 and 1,000 shares, respectively. The purchases may signal confidence in Kodiak. Darden SEC filing Holloway SEC filing
• Positive Sentiment: Kodiak raised its quarterly dividend to $0.51 from $0.49, a potential positive for income-focused investors. Company news and filings
• Negative Sentiment: COO William Lenamon sold 1,000 shares for $44,200, a 1.19% reduction in his holdings. The sale was modest relative to his remaining position. Lenamon SEC filing

Kodiak Gas Services Company Profile

Kodiak Gas Services provides contract natural gas compression services to energy companies in the United States. Its equipment helps move natural gas from production sites through gathering and processing systems and into pipelines. The company supplies, installs, operates and maintains compression equipment, including large-horsepower compressor units. Its services support natural gas production and transportation across major U.S. oil and gas regions. Based in The Woodlands, Texas, Kodiak became a publicly traded company in 2023.