Kodiak Gas Services (NYSE:KGS) Raised to Strong-Buy at Wells Fargo & Company

Kodiak Gas Services (NYSE:KGS) was upgraded by analysts at Wells Fargo & Company to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other analysts have also issued reports on KGS. Royal Bank Of Canada boosted their price target on Kodiak Gas Services from $64.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, May 18th. The Goldman Sachs Group boosted their target price on shares of Kodiak Gas Services from $69.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Citigroup boosted their target price on shares of Kodiak Gas Services from $63.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Stifel Nicolaus set a $84.00 target price on shares of Kodiak Gas Services in a report on Tuesday, May 12th. Finally, Zacks Research raised Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.75.

Kodiak Gas Services Stock Down 4.4%

Shares of NYSE:KGS opened at $70.43 on Wednesday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.28 and a quick ratio of 0.99. The firm has a market capitalization of $6.25 billion, a PE ratio of 95.17, a price-to-earnings-growth ratio of 1.03 and a beta of 1.01. The business has a 50 day simple moving average of $65.07 and a two-hundred day simple moving average of $49.92. Kodiak Gas Services has a 1 year low of $30.06 and a 1 year high of $77.68.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. The firm had revenue of $345.76 million during the quarter, compared to analyst estimates of $340.23 million. Kodiak Gas Services had a return on equity of 13.12% and a net margin of 5.13%.Kodiak Gas Services’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 earnings per share. On average, equities analysts predict that Kodiak Gas Services will post 2.35 EPS for the current year.

Insider Transactions at Kodiak Gas Services

In related news, CAO Ewan William Hamilton sold 5,797 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $56.18, for a total value of $325,675.46. Following the transaction, the chief accounting officer directly owned 34,346 shares of the company’s stock, valued at $1,929,558.28. This represents a 14.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pedro R. Buhigas sold 13,942 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $55.73, for a total value of $776,987.66. Following the completion of the transaction, the insider directly owned 42,723 shares in the company, valued at approximately $2,380,952.79. The trade was a 24.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 58,673 shares of company stock worth $3,269,110 over the last 90 days. Insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Kodiak Gas Services

Several hedge funds have recently made changes to their positions in KGS. Vanguard Group Inc. increased its position in shares of Kodiak Gas Services by 33.8% in the 4th quarter. Vanguard Group Inc. now owns 6,170,360 shares of the company’s stock valued at $230,771,000 after acquiring an additional 1,559,172 shares during the period. Invesco Ltd. grew its position in Kodiak Gas Services by 29.5% during the 3rd quarter. Invesco Ltd. now owns 6,305,789 shares of the company’s stock worth $233,125,000 after purchasing an additional 1,436,443 shares during the period. CIBC Private Wealth Group LLC grew its position in Kodiak Gas Services by 3,046.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,471,663 shares of the company’s stock worth $55,040,000 after purchasing an additional 1,424,888 shares during the period. Zimmer Partners LP grew 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 purchasing an additional 1,339,849 shares during the period. Finally, Eagle Global Advisors LLC acquired a new stake in Kodiak Gas Services during the 4th quarter worth about $39,741,000. 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.