Kodiak Gas Services (NYSE:KGS) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of Kodiak Gas Services (NYSE:KGS) from a hold rating to a strong sell rating in a research report report published on Tuesday morning,Zacks.com reports.

A number of other research analysts also recently issued reports on the company. Wall Street Zen raised Kodiak Gas Services from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Citigroup upped their target price on Kodiak Gas Services from $53.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Barclays upped their target price on Kodiak Gas Services from $49.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Royal Bank Of Canada upped their target price on Kodiak Gas Services from $45.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, March 19th. Finally, The Goldman Sachs Group upped their target price on Kodiak Gas Services from $46.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.57.

Kodiak Gas Services Trading Up 2.0%

Shares of NYSE:KGS opened at $60.32 on Tuesday. Kodiak Gas Services has a 12-month low of $29.26 and a 12-month high of $60.40. The company has a market capitalization of $5.18 billion, a PE ratio of 69.34 and a beta of 0.96. The business has a 50 day moving average of $53.60 and a two-hundred day moving average of $42.13. The company has a current ratio of 0.84, a quick ratio of 0.57 and a debt-to-equity ratio of 2.12.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.13). Kodiak Gas Services had a net margin of 6.16% and a return on equity of 11.55%. The company had revenue of $332.87 million during the quarter, compared to analyst estimates of $330.95 million. During the same period in the previous year, the firm posted $0.21 earnings per share. The company’s revenue was up 7.6% compared to the same quarter last year. As a group, analysts forecast that Kodiak Gas Services will post 1.12 EPS for the current year.

Kodiak Gas Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 13th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, February 13th. Kodiak Gas Services’s payout ratio is presently 225.29%.

Insider Transactions at Kodiak Gas Services

In other news, Director Alexander Newsom Darden acquired 5,000 shares of Kodiak Gas Services stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $54.75 per share, with a total value of $273,750.00. Following the purchase, the director owned 5,000 shares in the company, valued at $273,750. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Randall J. Hogan acquired 6,000 shares of Kodiak Gas Services stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $54.81 per share, with a total value of $328,860.00. Following the completion of the purchase, the director owned 28,406 shares in the company, valued at $1,556,932.86. The trade was a 26.78% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 11,433 shares of company stock worth $624,360 and sold 58,673 shares worth $3,269,110. 0.27% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of Kodiak Gas Services by 492.8% in the 3rd quarter. Principal Financial Group Inc. now owns 399,041 shares of the company’s stock worth $14,753,000 after acquiring an additional 331,732 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Kodiak Gas Services by 126.9% in the 3rd quarter. Rhumbline Advisers now owns 179,160 shares of the company’s stock worth $6,624,000 after acquiring an additional 100,194 shares during the last quarter. Tyler Stone Wealth Management acquired a new stake in shares of Kodiak Gas Services in the 2nd quarter worth $1,068,000. Public Sector Pension Investment Board acquired a new stake in shares of Kodiak Gas Services in the 3rd quarter worth $9,491,000. Finally, Viking Fund Management LLC increased its stake in shares of Kodiak Gas Services by 42.7% in the 3rd quarter. Viking Fund Management LLC now owns 127,000 shares of the company’s stock worth $4,695,000 after acquiring an additional 38,000 shares during the last quarter. 24.95% of the stock is owned by institutional investors and hedge funds.

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.