Kodiak Gas Services, Inc. (NYSE:KGS) Sees Significant Increase in Short Interest

Kodiak Gas Services, Inc. (NYSE:KGS) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 3,510,000 shares, an increase of 33.5% from the December 15th total of 2,630,000 shares. Currently, 7.7% of the company’s shares are short sold. Based on an average trading volume of 789,500 shares, the days-to-cover ratio is presently 4.4 days.

Insider Activity

In other news, insider Ewan William Hamilton sold 3,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $40.45, for a total transaction of $121,350.00. Following the completion of the sale, the insider now directly owns 31,745 shares of the company’s stock, valued at $1,284,085.25. The trade was a 8.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Kodiak Gas Services

Several hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. acquired a new stake in Kodiak Gas Services during the 3rd quarter valued at $610,000. Victory Capital Management Inc. acquired a new stake in shares of Kodiak Gas Services in the 3rd quarter valued at approximately $2,974,000. Chesapeake Capital Corp IL acquired a new position in shares of Kodiak Gas Services in the 3rd quarter valued at $603,000. Barclays PLC increased its holdings in shares of Kodiak Gas Services by 209.3% in the third quarter. Barclays PLC now owns 42,350 shares of the company’s stock worth $1,228,000 after acquiring an additional 28,658 shares in the last quarter. Finally, Tidal Investments LLC acquired a new position in shares of Kodiak Gas Services in the third quarter valued at approximately $598,000. 24.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on KGS shares. Citigroup boosted their price target on Kodiak Gas Services from $41.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday. The Goldman Sachs Group lifted their price objective on Kodiak Gas Services from $32.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Redburn Atlantic assumed coverage on shares of Kodiak Gas Services in a report on Thursday, September 19th. They issued a “buy” rating and a $35.00 price target on the stock. Raymond James boosted their price objective on shares of Kodiak Gas Services from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Kodiak Gas Services from $34.00 to $42.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.36.

Kodiak Gas Services Stock Up 1.9 %

Shares of KGS stock traded up $0.90 during trading on Thursday, hitting $47.05. 740,285 shares of the company were exchanged, compared to its average volume of 834,568. The business’s 50-day simple moving average is $40.33 and its 200 day simple moving average is $32.74. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 162.23 and a beta of 1.15. Kodiak Gas Services has a twelve month low of $20.84 and a twelve month high of $47.39. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.93 and a current ratio of 1.27.

Kodiak Gas Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, November 1st were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date was Friday, November 1st. Kodiak Gas Services’s dividend payout ratio is 565.54%.

Kodiak Gas Services Company Profile

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.