Kodiak Gas Services (NYSE:KGS) Hits New 1-Year High – Here’s Why

Shares of Kodiak Gas Services, Inc. (NYSE:KGS) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $37.15 and last traded at $37.15, with a volume of 6766 shares trading hands. The stock had previously closed at $36.44.

Analyst Ratings Changes

KGS has been the subject of several analyst reports. Royal Bank of Canada increased their price objective on Kodiak Gas Services from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Barclays increased their price target on Kodiak Gas Services from $29.00 to $32.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Raymond James raised their price objective on Kodiak Gas Services from $35.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Citigroup assumed coverage on shares of Kodiak Gas Services in a research note on Friday, September 27th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Mizuho began 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. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.64.

Kodiak Gas Services Trading Up 2.8 %

The firm’s 50-day simple moving average is $30.97 and its 200 day simple moving average is $28.51. The firm has a market cap of $3.28 billion, a P/E ratio of 125.66 and a beta of 0.79. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 1.86.

Kodiak Gas Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were paid a $0.41 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.64 annualized dividend and a yield of 4.38%. Kodiak Gas Services’s payout ratio is 565.52%.

Hedge Funds Weigh In On Kodiak Gas Services

Institutional investors and hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd lifted its position in shares of Kodiak Gas Services by 3.4% during the 1st quarter. Quadrature Capital Ltd now owns 27,642 shares of the company’s stock valued at $756,000 after buying an additional 906 shares during the last quarter. Wellington Shields & Co. LLC boosted its position in Kodiak Gas Services by 16.7% during the second quarter. Wellington Shields & Co. LLC now owns 7,000 shares of the company’s stock worth $191,000 after purchasing an additional 1,000 shares during the period. nVerses Capital LLC increased its stake 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. Dark Forest Capital Management LP raised its position in shares of Kodiak Gas Services by 5.9% in the second quarter. Dark Forest Capital Management LP now owns 20,894 shares of the company’s stock valued at $570,000 after purchasing an additional 1,164 shares during the period. Finally, Security National Bank purchased a new stake in Kodiak Gas Services during the 2nd quarter worth about $39,000. 24.95% of the stock is owned by institutional investors.

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.