Raymond James Forecasts Strong Price Appreciation for Kodiak Gas Services (NYSE:KGS) Stock

Kodiak Gas Services (NYSE:KGS) had its price objective increased by Raymond James from $35.00 to $39.00 in a research note published on Friday,Benzinga reports. Raymond James currently has an outperform rating on the stock.

A number of other equities research analysts have also commented on the company. Stifel Nicolaus increased their price target on Kodiak Gas Services from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Truist Financial raised their target price on Kodiak Gas Services from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday. Mizuho started coverage on shares of Kodiak Gas Services in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $36.00 price target on the stock. Citigroup assumed coverage on shares of Kodiak Gas Services in a research report on Friday, September 27th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, Redburn Atlantic began coverage on shares of Kodiak Gas Services in a research report on Thursday, September 19th. They set a “buy” rating and a $35.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.18.

Kodiak Gas Services Stock Performance

Kodiak Gas Services stock traded up $0.28 during trading hours on Friday, hitting $34.83. The stock had a trading volume of 857,095 shares, compared to its average volume of 514,515. The company has a quick ratio of 0.70, a current ratio of 1.05 and a debt-to-equity ratio of 1.70. The company has a 50-day moving average of $30.02 and a two-hundred day moving average of $28.20. Kodiak Gas Services has a fifty-two week low of $16.86 and a fifty-two week high of $35.56. The company has a market cap of $2.94 billion, a PE ratio of 119.94 and a beta of 0.79.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings data on Monday, August 12th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The company had revenue of $309.65 million for the quarter, compared to analyst estimates of $313.88 million. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 8.14%. On average, equities research analysts anticipate that Kodiak Gas Services will post 1.15 EPS for the current fiscal year.

Kodiak Gas Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were given a $0.41 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.64 annualized dividend and a yield of 4.71%. Kodiak Gas Services’s dividend payout ratio is currently 565.54%.

Institutional Trading of Kodiak Gas Services

Hedge funds and other institutional investors have recently modified their holdings of the company. Security National Bank bought a new position in shares of Kodiak Gas Services during the second quarter worth about $39,000. HWG Holdings LP acquired a new stake in shares of Kodiak Gas Services in the second quarter valued at approximately $40,000. nVerses Capital LLC lifted its position in shares of Kodiak Gas Services by 90.9% in the second quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock worth $57,000 after purchasing an additional 1,000 shares in the last quarter. SG Americas Securities LLC acquired a new position in Kodiak Gas Services during the third quarter worth $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Kodiak Gas Services by 115.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,691 shares of the company’s stock valued at $155,000 after buying an additional 3,045 shares during the last quarter. 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.