Barclays Cuts Kodiak Gas Services (NYSE:KGS) Price Target to $36.00

Kodiak Gas Services (NYSE:KGS) had its price target cut by Barclays from $41.00 to $36.00 in a research note published on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also commented on KGS. Mizuho increased their price objective on Kodiak Gas Services from $47.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Raymond James reiterated an “outperform” rating on shares of Kodiak Gas Services in a research note on Friday, March 7th. Royal Bank of Canada set a $45.00 price target on Kodiak Gas Services and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Citigroup increased their price objective on shares of Kodiak Gas Services from $41.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, Truist Financial boosted their target price on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Kodiak Gas Services has an average rating of “Moderate Buy” and a consensus price target of $41.45.

Kodiak Gas Services Stock Performance

Kodiak Gas Services stock opened at $33.91 on Wednesday. Kodiak Gas Services has a fifty-two week low of $24.84 and a fifty-two week high of $50.43. The company has a market capitalization of $3.01 billion, a PE ratio of 116.94 and a beta of 1.52. The company has a 50 day moving average price of $38.34 and a 200-day moving average price of $38.76. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.93 and a current ratio of 1.27.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.15). Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. The business had revenue of $309.52 million during the quarter, compared to analysts’ expectations of $323.82 million. As a group, equities analysts forecast that Kodiak Gas Services will post 1.12 earnings per share for the current year.

Kodiak Gas Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.84%. The ex-dividend date was Friday, February 14th. Kodiak Gas Services’s dividend payout ratio is currently 277.97%.

Insiders Place Their Bets

In other Kodiak Gas Services news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $47.50, for a total value of $177,112,157.50. Following the completion of the transaction, the insider now owns 34,771,323 shares in the company, valued at approximately $1,651,637,842.50. This represents a 9.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Kodiak Gas Services

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in Kodiak Gas Services by 94.7% in the fourth quarter. GAMMA Investing LLC now owns 703 shares of the company’s stock valued at $29,000 after purchasing an additional 342 shares during the period. Comerica Bank raised its stake in shares of Kodiak Gas Services by 710.1% during the 4th quarter. Comerica Bank now owns 721 shares of the company’s stock worth $29,000 after buying an additional 632 shares during the period. Sterling Capital Management LLC lifted its position in shares of Kodiak Gas Services by 1,322.6% during the 4th quarter. Sterling Capital Management LLC now owns 754 shares of the company’s stock valued at $31,000 after buying an additional 701 shares in the last quarter. Amalgamated Bank grew its stake in Kodiak Gas Services by 112.6% in the 4th quarter. Amalgamated Bank now owns 1,110 shares of the company’s stock valued at $45,000 after acquiring an additional 588 shares during the period. Finally, Transcendent Capital Group LLC purchased a new stake in Kodiak Gas Services in the 4th quarter worth $49,000. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Company Profile

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.