Kodiak Gas Services (NYSE:KGS) Given New $35.00 Price Target at Royal Bank of Canada

Kodiak Gas Services (NYSE:KGS) had its price objective lifted by research analysts at Royal Bank of Canada from $31.00 to $35.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 11.46% from the company’s previous close.

Several other research analysts have also weighed in on the company. Bank of America assumed coverage on Kodiak Gas Services in a research report on Wednesday, September 18th. They issued a “buy” rating and a $30.00 target price on the stock. Mizuho started coverage on Kodiak Gas Services in a report on Wednesday, October 2nd. They set an “outperform” rating and a $36.00 target price on the stock. Barclays upped their price target on Kodiak Gas Services from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Truist Financial upped their target price on Kodiak Gas Services from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Stifel Nicolaus lifted their target price on shares of Kodiak Gas Services from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.09.

Kodiak Gas Services Stock Up 1.2 %

Shares of NYSE KGS traded up $0.36 during mid-day trading on Wednesday, reaching $31.40. The company had a trading volume of 261,173 shares, compared to its average volume of 517,480. The stock has a fifty day moving average of $28.19 and a two-hundred day moving average of $27.60. Kodiak Gas Services has a 12-month low of $16.72 and a 12-month high of $32.77. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 35.68 and a beta of 0.89. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.70 and a current ratio of 1.05.

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

Institutional Investors Weigh In On Kodiak Gas Services

Several institutional investors and hedge funds have recently bought and sold shares of KGS. Goldman Sachs Group Inc. boosted its holdings in 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 purchasing an additional 215,570 shares in the last quarter. PNC Financial Services Group Inc. acquired a new stake in Kodiak Gas Services in the 4th quarter valued at $46,000. Quadrature Capital Ltd grew its position in Kodiak Gas Services by 30.2% in the fourth quarter. Quadrature Capital Ltd now owns 26,736 shares of the company’s stock valued at $537,000 after acquiring an additional 6,198 shares during the period. Capstone Investment Advisors LLC raised its stake in Kodiak Gas Services by 8.6% during the first quarter. Capstone Investment Advisors LLC now owns 271,400 shares of the company’s stock worth $7,420,000 after acquiring an additional 21,400 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in shares of Kodiak Gas Services during the first quarter valued at $5,184,000. 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.