Kodiak Gas Services, Inc. (NYSE:KGS) Sees Significant Increase in Short Interest

Kodiak Gas Services, Inc. (NYSE:KGS) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 3,510,000 shares, a growth of 33.5% from the December 15th total of 2,630,000 shares. Based on an average daily volume of 789,500 shares, the short-interest ratio is presently 4.4 days. Approximately 7.7% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. The Goldman Sachs Group lifted their target price on Kodiak Gas Services from $32.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Raymond James raised their price target on Kodiak Gas Services from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Barclays lifted their price objective on shares of Kodiak Gas Services from $32.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday. Mizuho assumed coverage on Kodiak Gas Services in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $36.00 price target for the company. Finally, Bank of America began coverage on Kodiak Gas Services in a research report on Wednesday, September 18th. They set a “buy” rating and a $30.00 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 company’s stock. Based on data from MarketBeat, Kodiak Gas Services has an average rating of “Moderate Buy” and an average price target of $39.36.

Kodiak Gas Services Price Performance

NYSE:KGS traded up $0.90 during trading hours on Thursday, reaching $47.05. 740,285 shares of the company traded hands, compared to its average volume of 834,568. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.27 and a quick ratio of 0.93. The firm’s 50-day moving average is $40.33 and its 200-day moving average is $32.74. The stock has a market cap of $4.12 billion, a P/E ratio of 162.23 and a beta of 1.15. Kodiak Gas Services has a 1-year low of $20.84 and a 1-year high of $47.39.

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 dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date was Friday, November 1st. Kodiak Gas Services’s dividend payout ratio is presently 565.54%.

Insiders Place Their Bets

In other Kodiak Gas Services news, insider Ewan William Hamilton sold 3,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $40.45, for a total transaction of $121,350.00. Following the sale, the insider now directly owns 31,745 shares in the company, valued at $1,284,085.25. This represents a 8.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its holdings in shares of Kodiak Gas Services by 36.4% during the second quarter. Rhumbline Advisers now owns 29,943 shares of the company’s stock worth $816,000 after buying an additional 7,995 shares in the last quarter. Arizona State Retirement System purchased a new stake in Kodiak Gas Services in the 2nd quarter worth approximately $205,000. American Century Companies Inc. raised its holdings in Kodiak Gas Services by 63.2% in the 2nd quarter. American Century Companies Inc. now owns 575,371 shares of the company’s stock valued at $15,685,000 after acquiring an additional 222,830 shares during the last quarter. Federated Hermes Inc. raised its holdings in Kodiak Gas Services by 20.4% in the 2nd quarter. Federated Hermes Inc. now owns 94,752 shares of the company’s stock valued at $2,583,000 after acquiring an additional 16,085 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of Kodiak Gas Services by 189.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 76,268 shares of the company’s stock worth $2,079,000 after purchasing an additional 49,962 shares during the period. 24.95% of the stock is currently 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.