Kodiak Gas Services (NYSE:KGS) Sees Large Volume Increase – Here’s What Happened

Kodiak Gas Services, Inc. (NYSE:KGS) saw unusually-strong trading volume on Friday . Approximately 753,785 shares were traded during mid-day trading, an increase of 45% from the previous session’s volume of 520,351 shares.The stock last traded at $35.71 and had previously closed at $35.80.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Mizuho began 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. Redburn Atlantic initiated coverage on shares of Kodiak Gas Services in a report on Thursday, September 19th. They issued a “buy” rating and a $35.00 price target on the stock. Raymond James raised their price objective on shares of Kodiak Gas Services from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Citigroup initiated coverage on Kodiak Gas Services in a research note on Friday, September 27th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Stifel Nicolaus raised their price target 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. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.64.

Kodiak Gas Services Stock Performance

The stock has a market cap of $3.15 billion, a PE ratio of 124.18 and a beta of 0.79. 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 50-day simple moving average of $30.78 and a 200-day simple moving average of $28.43.

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

Kodiak Gas Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, November 1st were given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 4.55%. The ex-dividend date was Friday, November 1st. Kodiak Gas Services’s payout ratio is currently 565.54%.

Institutional Trading of Kodiak Gas Services

A number of institutional investors have recently added to or reduced their stakes in KGS. Hotchkis & Wiley Capital Management LLC purchased a new position in Kodiak Gas Services in the third quarter valued at about $9,741,000. Verition Fund Management LLC raised its holdings in shares of Kodiak Gas Services by 80.2% during the 3rd quarter. Verition Fund Management LLC now owns 39,360 shares of the company’s stock valued at $1,141,000 after buying an additional 17,522 shares during the period. FORA Capital LLC purchased a new position in Kodiak Gas Services in the 3rd quarter worth approximately $431,000. Quantbot Technologies LP grew its position in Kodiak Gas Services by 78.8% in the third quarter. Quantbot Technologies LP now owns 54,340 shares of the company’s stock valued at $1,576,000 after acquiring an additional 23,947 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Kodiak Gas Services by 444.4% during the third quarter. FMR LLC now owns 4,889,804 shares of the company’s stock valued at $141,804,000 after purchasing an additional 3,991,630 shares during the period. 24.95% of the stock is owned by hedge funds and other 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.