Kodiak Gas Services (NYSE:KGS) Hits New 52-Week High – Time to Buy?

Kodiak Gas Services, Inc. (NYSE:KGS) hit a new 52-week high during trading on Wednesday . The stock traded as high as $34.15 and last traded at $33.79, with a volume of 16267 shares traded. The stock had previously closed at $32.49.

Analyst Ratings Changes

Several brokerages have commented on KGS. Bank of America began coverage on Kodiak Gas Services in a research report on Wednesday, September 18th. They issued a “buy” rating and a $30.00 price target on the stock. Citigroup started coverage on Kodiak Gas Services in a research report on Friday, September 27th. They issued a “buy” rating and a $35.00 price target on the stock. Barclays boosted their price objective on Kodiak Gas Services from $29.00 to $32.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Redburn Atlantic started coverage on Kodiak Gas Services in a research report on Thursday, September 19th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Truist Financial boosted their price objective on Kodiak Gas Services from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $33.09.

Kodiak Gas Services Trading Down 1.0 %

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 company has a market cap of $2.91 billion, a price-to-earnings ratio of 53.89 and a beta of 0.79. The business has a 50 day simple moving average of $29.88 and a 200 day simple moving average of $28.15.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings results on Monday, August 12th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $309.65 million for the quarter, compared to analyst estimates of $313.88 million. As a group, equities analysts forecast that Kodiak Gas Services, Inc. will post 1.15 EPS for the current year.

Kodiak Gas Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Friday, November 1st. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 256.25%.

Hedge Funds Weigh In On Kodiak Gas Services

Large investors have recently made changes to their positions in the company. Quadrature Capital Ltd increased its holdings in Kodiak Gas Services by 3.4% in the first quarter. Quadrature Capital Ltd now owns 27,642 shares of the company’s stock valued at $756,000 after purchasing an additional 906 shares during the last quarter. nVerses Capital LLC increased its holdings in Kodiak Gas Services by 90.9% in the second quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock valued at $57,000 after purchasing an additional 1,000 shares during the last quarter. Wellington Shields & Co. LLC increased its holdings in Kodiak Gas Services by 16.7% in the second quarter. Wellington Shields & Co. LLC now owns 7,000 shares of the company’s stock valued at $191,000 after purchasing an additional 1,000 shares during the last quarter. Dark Forest Capital Management LP increased its holdings in Kodiak Gas Services by 5.9% in the second quarter. Dark Forest Capital Management LP now owns 20,894 shares of the company’s stock valued at $570,000 after purchasing an additional 1,164 shares during the last quarter. Finally, Security National Bank bought a new stake in Kodiak Gas Services in the second quarter valued at about $39,000. 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.