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

Kodiak Gas Services (NYSE:KGS) had its price objective hoisted by Royal Bank of Canada from $31.00 to $35.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on KGS. Barclays raised their target price on shares of Kodiak Gas Services from $29.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Citigroup began coverage on shares of Kodiak Gas Services in a research report on Friday, September 27th. They set a “buy” rating and a $35.00 price objective on the stock. Mizuho began coverage on shares of Kodiak Gas Services in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $36.00 target price for the company. 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 price target on the stock. Finally, Redburn Atlantic began coverage on Kodiak Gas Services in a report on Thursday, September 19th. They issued a “buy” rating and a $35.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.09.

Kodiak Gas Services Stock Up 1.1 %

KGS opened at $31.39 on Wednesday. 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 one year low of $16.72 and a one year high of $32.77. The company has a fifty day moving average price of $28.28 and a 200-day moving average price of $27.63. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.05 and a quick ratio of 0.70.

Kodiak Gas Services (NYSE:KGS) last posted its earnings results on Monday, August 12th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.29). Kodiak Gas Services had a return on equity of 7.20% and a net margin of 5.23%. The business had revenue of $309.65 million for the quarter, compared to analysts’ expectations of $313.88 million. Equities research analysts expect that Kodiak Gas Services will post 1.15 earnings per share for the current fiscal year.

Kodiak Gas Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.64 annualized dividend and a yield of 5.22%. This is a boost from Kodiak Gas Services’s previous quarterly dividend of $0.38. Kodiak Gas Services’s dividend payout ratio is presently 186.36%.

Hedge Funds Weigh In On Kodiak Gas Services

Hedge funds have recently modified their holdings of the company. Security National Bank bought a new stake in shares of Kodiak Gas Services in the second quarter worth about $39,000. HWG Holdings LP bought a new stake in shares of Kodiak Gas Services in the 2nd quarter worth approximately $40,000. PNC Financial Services Group Inc. purchased a new position in shares of Kodiak Gas Services during the fourth quarter valued at approximately $46,000. nVerses Capital LLC raised its holdings in shares of Kodiak Gas Services by 90.9% during the second quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock valued at $57,000 after acquiring an additional 1,000 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Kodiak Gas Services in the third quarter worth $125,000. 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.