Bank of America Initiates Coverage on Kodiak Gas Services (NYSE:KGS)

Bank of America began coverage on shares of Kodiak Gas Services (NYSE:KGS) in a research report sent to investors on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $30.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on the company. Truist Financial raised their price target on Kodiak Gas Services from $32.00 to $35.00 and gave the company a buy rating in a research report on Thursday, August 15th. Royal Bank of Canada boosted their target price on Kodiak Gas Services from $30.00 to $31.00 and gave the stock an outperform rating in a research report on Wednesday, August 21st. Stifel Nicolaus upped their target price on Kodiak Gas Services from $31.00 to $35.00 and gave the stock a buy rating in a research note on Wednesday, August 14th. Finally, Barclays started coverage on shares of Kodiak Gas Services in a research note on Wednesday, July 17th. They set an equal weight rating and a $29.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Kodiak Gas Services presently has a consensus rating of Moderate Buy and a consensus price target of $31.78.

Kodiak Gas Services Stock Performance

Shares of KGS opened at $29.58 on Wednesday. Kodiak Gas Services has a 12-month low of $16.72 and a 12-month high of $29.91. The company has a current ratio of 1.05, a quick ratio of 0.70 and a debt-to-equity ratio of 1.70. The company has a market cap of $2.49 billion, a PE ratio of 33.61 and a beta of 0.90. The stock has a 50-day moving average price of $27.38 and a 200-day moving average price of $27.12.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings results on Monday, August 12th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The company had revenue of $309.65 million during the quarter, compared to analysts’ expectations of $313.88 million. Kodiak Gas Services had a return on equity of 7.20% and a net margin of 5.23%. As a group, equities analysts forecast that Kodiak Gas Services will post 1.15 earnings per share for the current fiscal year.

Kodiak Gas Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were given a $0.41 dividend. This is a boost from Kodiak Gas Services’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.54%. Kodiak Gas Services’s payout ratio is presently 186.36%.

Institutional Investors Weigh In On Kodiak Gas Services

A number of large investors have recently made changes to their positions in the business. Security National Bank bought a new stake in shares of Kodiak Gas Services during the 2nd quarter valued at about $39,000. HWG Holdings LP purchased a new stake in Kodiak Gas Services in the second quarter worth about $40,000. nVerses Capital LLC boosted its position in Kodiak Gas Services by 90.9% during the 2nd quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock valued at $57,000 after acquiring an additional 1,000 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of Kodiak Gas Services during the 4th quarter worth approximately $46,000. Finally, Parallel Advisors LLC bought a new position in shares of Kodiak Gas Services in the 4th quarter worth approximately $60,000. 24.95% of the stock is currently 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.