Royal Bank of Canada Raises Kodiak Gas Services (NYSE:KGS) Price Target to $40.00

Kodiak Gas Services (NYSE:KGS) had its price objective increased by Royal Bank of Canada from $35.00 to $40.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other analysts have also issued research reports about the stock. Citigroup started coverage on shares of Kodiak Gas Services in a report on Friday, September 27th. They set a “buy” rating and a $35.00 target price for the company. Redburn Atlantic initiated coverage on Kodiak Gas Services in a research note on Thursday, September 19th. They set a “buy” rating and a $35.00 price objective for the company. Barclays increased their target price on Kodiak Gas Services from $29.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Stifel Nicolaus boosted their target price 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. Finally, Mizuho assumed coverage on shares of Kodiak Gas Services in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $36.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Kodiak Gas Services has an average rating of “Moderate Buy” and an average target price of $34.64.

Kodiak Gas Services Stock Performance

Shares of NYSE:KGS opened at $35.77 on Monday. The company has a current ratio of 1.27, a quick ratio of 0.93 and a debt-to-equity ratio of 1.86. Kodiak Gas Services has a 1-year low of $17.50 and a 1-year high of $36.99. The stock has a market capitalization of $3.13 billion, a P/E ratio of 123.35 and a beta of 0.79. The business has a 50-day moving average price of $30.78 and a two-hundred day moving average price of $28.43.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings results on Monday, August 12th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.29). Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. The business had revenue of $309.65 million for the quarter, compared to analyst estimates of $313.88 million. Equities analysts predict that Kodiak Gas Services will post 1.21 earnings per share for the current year.

Kodiak Gas Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date was Friday, November 1st. Kodiak Gas Services’s payout ratio is currently 565.54%.

Institutional Investors Weigh In On Kodiak Gas Services

Several large investors have recently made changes to their positions in KGS. Security National Bank acquired a new position in Kodiak Gas Services in the 2nd quarter worth $39,000. HWG Holdings LP acquired a new position in shares of Kodiak Gas Services during the second quarter worth about $40,000. nVerses Capital LLC boosted its position in shares of Kodiak Gas Services by 90.9% during the second quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock worth $57,000 after buying an additional 1,000 shares during the period. SG Americas Securities LLC bought a new position in shares of Kodiak Gas Services during the third quarter worth about $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 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.