Kodiak Gas Services, Inc. (NYSE:KGS) Sees Significant Increase in Short Interest

Kodiak Gas Services, Inc. (NYSE:KGS) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 3,170,000 shares, an increase of 28.9% from the October 15th total of 2,460,000 shares. Currently, 10.5% of the shares of the stock are sold short. Based on an average trading volume of 702,300 shares, the days-to-cover ratio is currently 4.5 days.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of KGS. FMR LLC lifted its holdings in Kodiak Gas Services by 444.4% in the third quarter. FMR LLC now owns 4,889,804 shares of the company’s stock valued at $141,804,000 after buying an additional 3,991,630 shares during the period. Wellington Management Group LLP acquired a new position in shares of Kodiak Gas Services in the 3rd quarter valued at $44,558,000. Zimmer Partners LP lifted its stake in shares of Kodiak Gas Services by 313.0% in the 3rd quarter. Zimmer Partners LP now owns 1,779,851 shares of the company’s stock valued at $51,616,000 after purchasing an additional 1,348,899 shares during the period. Blackstone Inc. boosted its position in shares of Kodiak Gas Services by 1,358.3% in 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. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Kodiak Gas Services during the first quarter worth $11,544,000. Institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Trading Up 1.8 %

KGS stock opened at $36.44 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 1.86. Kodiak Gas Services has a twelve month low of $17.50 and a twelve month high of $36.99. The company has a market cap of $3.19 billion, a P/E ratio of 125.66 and a beta of 0.79. The business has a fifty day moving average of $30.97 and a 200-day moving average of $28.50.

Kodiak Gas Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were given a dividend of $0.41 per share. The ex-dividend date was Friday, November 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.50%. Kodiak Gas Services’s payout ratio is presently 565.54%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on KGS shares. Barclays increased their target price on shares of Kodiak Gas Services from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Royal Bank of Canada raised their price objective on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Citigroup initiated coverage on Kodiak Gas Services in a report on Friday, September 27th. They issued a “buy” rating and a $35.00 target price on the stock. Truist Financial raised their price target on Kodiak Gas Services from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Stifel Nicolaus boosted their price objective 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. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Kodiak Gas Services currently has a consensus rating of “Moderate Buy” and an average price target of $34.64.

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.