Royal Bank of Canada Forecasts Strong Price Appreciation for Kodiak Gas Services (NYSE:KGS) Stock

by · The Markets Daily

Kodiak Gas Services (NYSE:KGS – Free Report) had its price target raised by Royal Bank of Canada from $35.00 to $40.00 in a research note released on Monday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. Redburn Atlantic initiated coverage on shares of Kodiak Gas Services in a report on Thursday, September 19th. They set a “buy” rating and a $35.00 price objective on the stock. Truist Financial upped their price objective on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, November 8th. Barclays upped their price objective on shares of Kodiak Gas Services from $29.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Stifel Nicolaus increased their price target on shares of Kodiak Gas Services from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Citigroup started coverage on shares of Kodiak Gas Services in a report on Friday, September 27th. They issued a “buy” rating and a $35.00 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 company. Based on data from MarketBeat.com, Kodiak Gas Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.64.

Get Our Latest Stock Report on KGS

Kodiak Gas Services Price Performance

Shares of NYSE:KGS opened at $35.83 on Monday. The company has a market capitalization of $3.14 billion, a P/E ratio of 123.56 and a beta of 0.79. Kodiak Gas Services has a fifty-two week low of $17.50 and a fifty-two week high of $36.99. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.93 and a current ratio of 1.27. The company’s 50-day moving average is $30.60 and its 200 day moving average is $28.38.

Kodiak Gas Services (NYSE:KGS – Get Free Report) last released its quarterly earnings data on Monday, August 12th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.29). The business had revenue of $309.65 million for the quarter, compared to analysts’ expectations of $313.88 million. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 7.91%. On average, equities research analysts forecast that Kodiak Gas Services will post 1.14 earnings per share for the current year.

Kodiak Gas Services Dividend Announcement

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. This represents a $1.64 annualized dividend and a dividend yield of 4.58%. The ex-dividend date was Friday, November 1st. Kodiak Gas Services’s dividend payout ratio (DPR) is 565.54%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP increased its position in shares of Kodiak Gas Services by 78.8% in the third quarter. Quantbot Technologies LP now owns 54,340 shares of the company’s stock worth $1,576,000 after purchasing an additional 23,947 shares during the last quarter. FMR LLC increased its position in shares of Kodiak Gas Services by 444.4% in the third quarter. FMR LLC now owns 4,889,804 shares of the company’s stock worth $141,804,000 after purchasing an additional 3,991,630 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in Kodiak Gas Services by 41.7% during the third quarter. Dynamic Technology Lab Private Ltd now owns 10,904 shares of the company’s stock valued at $316,000 after acquiring an additional 3,209 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Kodiak Gas Services by 17.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 198,410 shares of the company’s stock valued at $5,754,000 after acquiring an additional 29,611 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its position in Kodiak Gas Services by 77.5% during the third quarter. Kayne Anderson Capital Advisors LP now owns 93,483 shares of the company’s stock valued at $2,711,000 after acquiring an additional 40,802 shares during the last quarter. 24.95% of the stock is currently owned by institutional investors.

About Kodiak Gas Services

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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.

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