Kodiak Gas Services (NYSE:KGS) Sets New 52-Week High – Here’s Why

Kodiak Gas Services, Inc. (NYSE:KGS) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $52.91 and last traded at $52.8450, with a volume of 783534 shares changing hands. The stock had previously closed at $51.12.

Wall Street Analysts Forecast Growth

KGS has been the subject of several recent research reports. Zacks Research lowered Kodiak Gas Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Stifel Nicolaus set a $48.00 target price on shares of Kodiak Gas Services in a report on Thursday, November 6th. Barclays increased their price target on shares of Kodiak Gas Services from $42.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. William Blair initiated coverage on shares of Kodiak Gas Services in a research report on Tuesday, November 18th. They issued an “outperform” rating on the stock. Finally, Wall Street Zen upgraded shares of Kodiak Gas Services from a “sell” rating to a “hold” rating in a research note on Saturday. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Kodiak Gas Services Stock Up 3.6%

The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 66.16 and a beta of 1.31. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.69 and a current ratio of 0.98. The business’s 50 day moving average is $41.51 and its 200 day moving average is $37.33.

Kodiak Gas Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 13th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, February 13th. Kodiak Gas Services’s dividend payout ratio is presently 245.00%.

Institutional Trading of Kodiak Gas Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KGS. Invesco Ltd. increased its holdings in shares of Kodiak Gas Services by 59.9% in the second quarter. Invesco Ltd. now owns 4,869,346 shares of the company’s stock valued at $166,872,000 after purchasing an additional 1,824,407 shares during the period. Vanguard Group Inc. boosted its position in Kodiak Gas Services by 33.8% in the fourth quarter. Vanguard Group Inc. now owns 6,170,360 shares of the company’s stock valued at $230,771,000 after buying an additional 1,559,172 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in Kodiak Gas Services by 3,046.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,471,663 shares of the company’s stock worth $55,040,000 after buying an additional 1,424,888 shares during the period. Zimmer Partners LP raised its position in Kodiak Gas Services by 45.7% during the 4th quarter. Zimmer Partners LP now owns 4,271,553 shares of the company’s stock worth $159,756,000 after buying an additional 1,339,849 shares during the last quarter. Finally, Eagle Global Advisors LLC acquired a new stake in Kodiak Gas Services during the 4th quarter valued at approximately $39,741,000. Institutional investors and hedge funds own 24.95% of the company’s stock.

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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.