Kodiak Gas Services (NYSE:KGS) Sets New 12-Month High – Here’s What Happened

Shares of Kodiak Gas Services, Inc. (NYSE:KGS) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $42.49 and last traded at $42.09, with a volume of 5808 shares trading hands. The stock had previously closed at $41.66.

Analyst Upgrades and Downgrades

KGS has been the topic of several research analyst reports. Royal Bank of Canada upped their price objective on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. increased their price target on Kodiak Gas Services from $34.00 to $42.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Truist Financial lifted their price objective on Kodiak Gas Services from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Barclays increased their target price on Kodiak Gas Services from $29.00 to $32.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Mizuho started coverage on Kodiak Gas Services in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $36.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.09.

Kodiak Gas Services Stock Performance

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 stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 143.18 and a beta of 1.14. The stock has a 50-day moving average of $35.59 and a 200 day moving average of $30.18.

Kodiak Gas Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Friday, November 1st. Kodiak Gas Services’s dividend payout ratio (DPR) is 565.54%.

Insider Activity at Kodiak Gas Services

In related news, insider Ewan William Hamilton sold 3,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $40.45, for a total value of $121,350.00. Following the completion of the sale, the insider now owns 31,745 shares in the company, valued at approximately $1,284,085.25. This represents a 8.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kodiak Gas Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KGS. FMR LLC boosted its stake in Kodiak Gas Services by 444.4% during the 3rd quarter. FMR LLC now owns 4,889,804 shares of the company’s stock worth $141,804,000 after acquiring an additional 3,991,630 shares during the last quarter. Zimmer Partners LP boosted its position in shares of Kodiak Gas Services by 313.0% during the third quarter. Zimmer Partners LP now owns 1,779,851 shares of the company’s stock worth $51,616,000 after purchasing an additional 1,348,899 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Kodiak Gas Services in the 3rd quarter valued at $44,558,000. HITE Hedge Asset Management LLC increased its position in shares of Kodiak Gas Services by 74.8% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 780,600 shares of the company’s stock valued at $21,279,000 after buying an additional 334,086 shares in the last quarter. Finally, State Street Corp raised its stake in Kodiak Gas Services by 8.7% during the 3rd quarter. State Street Corp now owns 678,925 shares of the company’s stock worth $19,689,000 after buying an additional 54,202 shares during the period. 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.