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

Kodiak Gas Services, Inc. (NYSE:KGS) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 3,310,000 shares, a growth of 5.1% from the September 15th total of 3,150,000 shares. Based on an average daily volume of 710,400 shares, the short-interest ratio is currently 4.7 days. Approximately 11.0% of the company’s stock are short sold.

Institutional Investors Weigh In On Kodiak Gas Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. U.S. Capital Wealth Advisors LLC acquired a new position in Kodiak Gas Services during the second quarter worth $913,000. Quantbot Technologies LP boosted its holdings in Kodiak Gas Services by 345.3% during the 1st quarter. Quantbot Technologies LP now owns 45,403 shares of the company’s stock valued at $1,241,000 after acquiring an additional 35,208 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Kodiak Gas Services during the 1st quarter valued at about $1,046,000. Jennison Associates LLC acquired a new position in Kodiak Gas Services in the 1st quarter valued at about $5,184,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Kodiak Gas Services during the first quarter worth about $11,544,000. Institutional investors and hedge funds own 24.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of Kodiak Gas Services from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Bank of America assumed coverage on Kodiak Gas Services in a research report on Wednesday, September 18th. They set a “buy” rating and a $30.00 target price on the stock. Mizuho started coverage on Kodiak Gas Services in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $36.00 target price on the stock. 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 price target for the company. Finally, Royal Bank of Canada upped their price objective on Kodiak Gas Services from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.09.

Kodiak Gas Services Price Performance

NYSE KGS traded down $0.34 during trading hours on Friday, hitting $31.05. 29,641 shares of the company’s stock traded hands, compared to its average volume of 516,904. The company has a market capitalization of $2.62 billion, a PE ratio of 35.67 and a beta of 0.89. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.05 and a quick ratio of 0.70. Kodiak Gas Services has a 52-week low of $16.72 and a 52-week high of $32.77. The firm’s 50-day moving average is $28.41 and its 200-day moving average is $27.68.

Kodiak Gas Services (NYSE:KGS) last posted its quarterly 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). The company had revenue of $309.65 million during the quarter, compared to analysts’ expectations of $313.88 million. Kodiak Gas Services had a net margin of 5.23% and a return on equity of 7.20%. Equities analysts forecast that Kodiak Gas Services will post 1.15 EPS for the current fiscal year.

Kodiak Gas Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were paid a dividend of $0.41 per share. The ex-dividend date was Monday, August 12th. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.38. This represents a $1.64 dividend on an annualized basis and a yield of 5.28%. Kodiak Gas Services’s payout ratio is 186.36%.

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.