Kodiak Gas Services (NYSE:KGS) Given New $40.00 Price Target at Truist Financial

Kodiak Gas Services (NYSE:KGS) had its target price hoisted by Truist Financial from $35.00 to $40.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also issued reports about the company. Mizuho started coverage on Kodiak Gas Services in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $36.00 price target for the company. Royal Bank of Canada lifted their target price on Kodiak Gas Services from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Stifel Nicolaus increased their price target 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. Citigroup assumed coverage on shares of Kodiak Gas Services in a research note on Friday, September 27th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Barclays raised their price target on shares of Kodiak Gas Services from $29.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $34.18.

Kodiak Gas Services Stock Performance

KGS stock traded up $0.28 during midday trading on Friday, hitting $34.83. The company’s stock had a trading volume of 857,095 shares, compared to its average volume of 514,515. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 119.94 and a beta of 0.79. The stock’s 50-day moving average price is $30.02 and its 200 day moving average price is $28.20. 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 1 year low of $16.86 and a 1 year high of $35.56.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings results on Monday, August 12th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The firm had revenue of $309.65 million for the quarter, compared to analysts’ expectations of $313.88 million. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 8.14%. On average, equities analysts forecast that Kodiak Gas Services will post 1.15 EPS for the current year.

Kodiak Gas Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were given a $0.41 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.71%. Kodiak Gas Services’s payout ratio is 565.54%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in KGS. Kayne Anderson Capital Advisors LP raised its position in Kodiak Gas Services by 77.5% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 93,483 shares of the company’s stock worth $2,711,000 after purchasing an additional 40,802 shares during the period. Chesapeake Capital Corp IL bought a new stake in shares of Kodiak Gas Services in the 3rd quarter valued at about $603,000. TSA Wealth Managment LLC boosted its holdings in Kodiak Gas Services by 30.9% during the 3rd quarter. TSA Wealth Managment LLC now owns 84,550 shares of the company’s stock valued at $2,452,000 after acquiring an additional 19,974 shares during the period. Royce & Associates LP bought a new position in shares of Kodiak Gas Services in the third quarter worth approximately $3,770,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Kodiak Gas Services during the third quarter worth about $2,974,000. 24.95% of the stock is owned by hedge funds and other institutional investors.

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.