Kodiak Gas Services (NYSE:KGS) PT Raised to $35.00 at Royal Bank of Canada

Kodiak Gas Services (NYSE:KGS) had its price objective increased by equities researchers at Royal Bank of Canada from $31.00 to $35.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 11.50% from the company’s current price.

A number of other equities research analysts have also recently commented on KGS. Redburn Atlantic initiated coverage on Kodiak Gas Services in a research report on Thursday, September 19th. They set a “buy” rating and a $35.00 target price on the stock. Citigroup initiated coverage on Kodiak Gas Services in a research report on Friday, September 27th. They set a “buy” rating and a $35.00 target price on the stock. Bank of America initiated coverage on Kodiak Gas Services in a research report on Wednesday, September 18th. They set a “buy” rating and a $30.00 target price on the stock. Mizuho initiated coverage on Kodiak Gas Services in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $36.00 target price on the stock. Finally, Barclays raised their target price 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. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Kodiak Gas Services currently has a consensus rating of “Moderate Buy” and an average target price of $33.09.

Kodiak Gas Services Stock Performance

NYSE KGS opened at $31.39 on Wednesday. The stock has a 50-day simple moving average of $28.41 and a two-hundred day simple moving average of $27.68. The firm has a market capitalization of $2.65 billion, a P/E ratio of 35.67 and a beta of 0.89. Kodiak Gas Services has a fifty-two week low of $16.72 and a fifty-two week high of $32.77. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.70 and a current ratio of 1.05.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings data on Monday, August 12th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The company 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 5.23% and a return on equity of 7.20%. On average, equities analysts forecast that Kodiak Gas Services will post 1.15 earnings per share for the current year.

Institutional Investors Weigh In On Kodiak Gas Services

Institutional investors have recently bought and sold shares of the company. Blackstone Inc. boosted its holdings in shares of Kodiak Gas Services by 1,358.3% during the 1st quarter. Blackstone Inc. now owns 644,231 shares of the company’s stock worth $17,613,000 after purchasing an additional 600,055 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Kodiak Gas Services during the 1st quarter worth approximately $11,544,000. HITE Hedge Asset Management LLC boosted its holdings in shares of Kodiak Gas Services by 74.8% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 780,600 shares of the company’s stock worth $21,279,000 after purchasing an additional 334,086 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Kodiak Gas Services by 63.2% during the 2nd quarter. American Century Companies Inc. now owns 575,371 shares of the company’s stock worth $15,685,000 after purchasing an additional 222,830 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Kodiak Gas Services by 20.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,279,636 shares of the company’s stock worth $25,695,000 after purchasing an additional 215,570 shares during the last quarter. 24.95% of the stock is currently owned by institutional investors and hedge funds.

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.