Kodiak Gas Services (NYSE:KGS) Shares Gap Down to $29.31

Kodiak Gas Services, Inc. (NYSE:KGS)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $29.31, but opened at $27.32. Kodiak Gas Services shares last traded at $25.53, with a volume of 214,956 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on KGS shares. Truist Financial lifted their price target on shares of Kodiak Gas Services from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Stifel Nicolaus lifted their price objective on shares of Kodiak Gas Services from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada increased their target price on Kodiak Gas Services from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, May 20th. Finally, Barclays initiated coverage on Kodiak Gas Services in a report on Wednesday, July 17th. They set an “equal weight” rating and a $29.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Kodiak Gas Services Stock Performance

The company has a current ratio of 1.11, a quick ratio of 0.76 and a debt-to-equity ratio of 1.60. The firm’s fifty day moving average price is $27.21 and its 200-day moving average price is $26.65. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 29.09 and a beta of 0.92.

Kodiak Gas Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 12th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 6.41%. The ex-dividend date is Monday, August 12th. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.38. Kodiak Gas Services’s dividend payout ratio is currently 186.36%.

Hedge Funds Weigh In On Kodiak Gas Services

Hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Kodiak Gas Services in the 4th quarter valued at about $127,000. New York State Common Retirement Fund boosted its holdings in shares of Kodiak Gas Services by 204.6% in the fourth quarter. New York State Common Retirement Fund now owns 10,129 shares of the company’s stock valued at $203,000 after acquiring an additional 6,804 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Kodiak Gas Services by 48.3% in the fourth quarter. Russell Investments Group Ltd. now owns 452,710 shares of the company’s stock valued at $9,090,000 after acquiring an additional 147,455 shares during the period. Duff & Phelps Investment Management Co. grew its position in shares of Kodiak Gas Services by 23.1% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 24,000 shares of the company’s stock worth $482,000 after acquiring an additional 4,500 shares during the last quarter. Finally, Swiss National Bank acquired a new position in shares of Kodiak Gas Services in the 4th quarter valued at $920,000. Hedge funds and other institutional investors own 24.95% of the company’s stock.

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.