Citigroup Initiates Coverage on Kodiak Gas Services (NYSE:KGS)

Equities researchers at Citigroup initiated coverage on shares of Kodiak Gas Services (NYSE:KGS) in a research note issued on Friday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $35.00 price target on the stock. Citigroup’s target price suggests a potential upside of 19.70% from the company’s previous close.

Several other research firms also recently weighed in on KGS. Redburn Atlantic began coverage on Kodiak Gas Services in a research report on Thursday, September 19th. They set a “buy” rating and a $35.00 target price on the stock. Bank of America began coverage on shares of Kodiak Gas Services in a report on Wednesday, September 18th. They set a “buy” rating and a $30.00 price objective on the stock. Royal Bank of Canada boosted their target price on shares of Kodiak Gas Services from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Barclays initiated coverage on shares of Kodiak Gas Services in a research note on Wednesday, July 17th. They set an “equal weight” rating and a $29.00 price target on the stock. Finally, Truist Financial lifted their price target on shares of Kodiak Gas Services from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Kodiak Gas Services has an average rating of “Moderate Buy” and an average target price of $32.10.

Kodiak Gas Services Stock Performance

NYSE:KGS opened at $29.24 on Friday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.05 and a quick ratio of 0.70. The firm has a market cap of $2.46 billion, a PE ratio of 33.23 and a beta of 0.89. The firm has a 50 day simple moving average of $27.44 and a 200-day simple moving average of $27.23. Kodiak Gas Services has a 1-year low of $16.72 and a 1-year high of $30.52.

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

Hedge Funds Weigh In On Kodiak Gas Services

Several hedge funds and other institutional investors have recently made changes to their positions in the business. HWG Holdings LP purchased a new position in Kodiak Gas Services in the second quarter valued at about $40,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Kodiak Gas Services during the 2nd quarter valued at about $328,000. The Manufacturers Life Insurance Company raised its holdings in shares of Kodiak Gas Services by 34.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,877 shares of the company’s stock valued at $378,000 after buying an additional 3,540 shares during the period. Dark Forest Capital Management LP lifted its position in Kodiak Gas Services by 5.9% during the 2nd quarter. Dark Forest Capital Management LP now owns 20,894 shares of the company’s stock worth $570,000 after acquiring an additional 1,164 shares in the last quarter. Finally, HITE Hedge Asset Management LLC boosted its holdings in Kodiak Gas Services by 74.8% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 780,600 shares of the company’s stock worth $21,279,000 after acquiring an additional 334,086 shares during the period. Institutional investors and hedge funds 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.