Kodiak Gas Services’ (KGS) Buy Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their buy rating on shares of Kodiak Gas Services (NYSE:KGS) in a research report sent to investors on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has a $43.00 price objective on the stock, up from their prior price objective of $42.00.

A number of other equities analysts have also recently commented on the company. Truist Financial raised their target price on Kodiak Gas Services from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Mizuho reduced their price target on Kodiak Gas Services from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday, May 20th. Royal Bank Of Canada set a $45.00 price objective on Kodiak Gas Services and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Barclays reduced their target price on shares of Kodiak Gas Services from $41.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Finally, Raymond James Financial restated an “outperform” rating on shares of Kodiak Gas Services in a research note on Friday, March 7th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Kodiak Gas Services has an average rating of “Moderate Buy” and a consensus price target of $40.64.

Kodiak Gas Services Price Performance

Shares of NYSE:KGS opened at $33.93 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.17 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $3.01 billion, a PE ratio of 64.01 and a beta of 1.48. The firm’s 50 day moving average price is $34.88 and its 200-day moving average price is $38.86. Kodiak Gas Services has a twelve month low of $24.84 and a twelve month high of $50.43.

Kodiak Gas Services (NYSE:KGS) last announced its earnings results on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Kodiak Gas Services had a net margin of 3.93% and a return on equity of 8.49%. The business had revenue of $329.64 million during the quarter, compared to analysts’ expectations of $328.45 million. During the same period in the prior year, the company earned $0.39 earnings per share. The firm’s revenue was up 52.9% on a year-over-year basis. Equities research analysts expect that Kodiak Gas Services will post 1.12 EPS for the current year.

Kodiak Gas Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, May 5th. This is a boost from Kodiak Gas Services’s previous quarterly dividend of $0.41. This represents a $1.80 dividend on an annualized basis and a yield of 5.31%. Kodiak Gas Services’s payout ratio is currently 339.62%.

Institutional Investors Weigh In On Kodiak Gas Services

A number of institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its holdings in shares of Kodiak Gas Services by 155.8% in the fourth quarter. Victory Capital Management Inc. now owns 262,329 shares of the company’s stock worth $10,711,000 after buying an additional 159,772 shares in the last quarter. Rhumbline Advisers increased its holdings in Kodiak Gas Services by 37.3% in the 1st quarter. Rhumbline Advisers now owns 60,450 shares of the company’s stock valued at $2,255,000 after acquiring an additional 16,408 shares during the last quarter. GAMMA Investing LLC lifted its stake in Kodiak Gas Services by 3,401.8% in the 1st quarter. GAMMA Investing LLC now owns 24,618 shares of the company’s stock worth $918,000 after purchasing an additional 23,915 shares in the last quarter. Bailard Inc. purchased a new stake in Kodiak Gas Services in the 4th quarter worth $363,000. Finally, Swiss National Bank boosted its holdings in shares of Kodiak Gas Services by 16.4% during the 4th quarter. Swiss National Bank now owns 57,500 shares of the company’s stock valued at $2,348,000 after purchasing an additional 8,100 shares during the last quarter. 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.