Kodiak Gas Services, Inc. (NYSE:KGS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Kodiak Gas Services, Inc. (NYSE:KGS) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $43.50.

A number of brokerages have commented on KGS. JPMorgan Chase & Co. reissued a “buy” rating and issued a $43.00 price objective (up previously from $42.00) on shares of Kodiak Gas Services in a research note on Monday, June 23rd. Royal Bank Of Canada lifted their price objective on Kodiak Gas Services from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Wednesday, August 13th. Mizuho boosted their target price on Kodiak Gas Services from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Kodiak Gas Services in a research report on Saturday, September 27th. Finally, Barclays raised their price target on shares of Kodiak Gas Services from $36.00 to $37.00 and gave the company an “equal weight” rating in a research report on Thursday, August 14th.

Kodiak Gas Services Trading Down 0.4%

KGS stock opened at $34.41 on Wednesday. The business has a fifty day moving average of $34.38 and a 200-day moving average of $34.35. The company has a market cap of $2.98 billion, a P/E ratio of 38.23 and a beta of 1.32. The company has a quick ratio of 0.78, a current ratio of 1.10 and a debt-to-equity ratio of 1.89. Kodiak Gas Services has a twelve month low of $29.25 and a twelve month high of $50.43.

Kodiak Gas Services (NYSE:KGS) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. Kodiak Gas Services had a net margin of 6.48% and a return on equity of 10.35%. The business had revenue of $322.84 million for the quarter, compared to analysts’ expectations of $335.10 million. During the same period in the previous year, the firm posted $0.06 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts expect that Kodiak Gas Services will post 1.12 EPS for the current year.

Kodiak Gas Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 4th were given a $0.45 dividend. The ex-dividend date was Monday, August 4th. This represents a $1.80 dividend on an annualized basis and a yield of 5.2%. Kodiak Gas Services’s dividend payout ratio (DPR) is currently 200.00%.

Kodiak Gas Services announced that its Board of Directors has authorized a stock repurchase program on Monday, August 11th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Kodiak Gas Services

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC lifted its stake in shares of Kodiak Gas Services by 545.8% in the 2nd quarter. Squarepoint Ops LLC now owns 228,073 shares of the company’s stock valued at $7,816,000 after purchasing an additional 192,754 shares during the period. Tyler Stone Wealth Management purchased a new position in Kodiak Gas Services in the second quarter valued at $1,068,000. FORA Capital LLC purchased a new stake in Kodiak Gas Services in the second quarter valued at $499,000. Tower Research Capital LLC TRC boosted its holdings in shares of Kodiak Gas Services by 37.0% in the second quarter. Tower Research Capital LLC TRC now owns 7,779 shares of the company’s stock valued at $267,000 after acquiring an additional 2,100 shares during the period. Finally, Captrust Financial Advisors increased its position in Kodiak Gas Services by 2.7% in the 2nd quarter. Captrust Financial Advisors now owns 16,925 shares of the company’s stock valued at $580,000 after acquiring an additional 448 shares during the period. 24.95% of the stock is owned by hedge funds and other institutional investors.

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.