Kodiak Gas Services, Inc. (NYSE:KGS) Short Interest Up 5.7% in July

Kodiak Gas Services, Inc. (NYSE:KGS) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totalling 1,680,000 shares, an increase of 5.7% from the June 30th total of 1,590,000 shares. Currently, 7.6% of the shares of the stock are sold short. Based on an average daily volume of 390,300 shares, the short-interest ratio is presently 4.3 days.

Kodiak Gas Services Stock Up 2.4 %

Shares of NYSE:KGS opened at $28.33 on Wednesday. The company has a 50 day moving average price of $27.04 and a two-hundred day moving average price of $26.26. The company has a market capitalization of $2.39 billion and a PE ratio of 32.19. Kodiak Gas Services has a 52 week low of $16.72 and a 52 week high of $29.75. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.76 and a current ratio of 1.11.

Kodiak Gas Services (NYSE:KGS) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. Kodiak Gas Services had a net margin of 7.15% and a return on equity of 7.33%. The business had revenue of $215.50 million during the quarter, compared to analysts’ expectations of $220.55 million. The company’s quarterly revenue was up 13.4% on a year-over-year basis. Analysts forecast that Kodiak Gas Services will post 1.81 earnings per share for the current year.

Kodiak Gas Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were given a $0.38 dividend. The ex-dividend date was Friday, May 10th. This represents a $1.52 annualized dividend and a dividend yield of 5.37%. Kodiak Gas Services’s dividend payout ratio is presently 172.73%.

Institutional Trading of Kodiak Gas Services

A number of large investors have recently bought and sold shares of KGS. Vanguard Group Inc. boosted its holdings in shares of Kodiak Gas Services by 504.9% in the third quarter. Vanguard Group Inc. now owns 967,799 shares of the company’s stock valued at $17,304,000 after buying an additional 807,799 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Kodiak Gas Services during the 4th quarter worth about $127,000. New York State Common Retirement Fund raised its stake in shares of Kodiak Gas Services by 204.6% in the 4th quarter. New York State Common Retirement Fund now owns 10,129 shares of the company’s stock valued at $203,000 after purchasing an additional 6,804 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Kodiak Gas Services by 48.3% in the 4th quarter. Russell Investments Group Ltd. now owns 452,710 shares of the company’s stock valued at $9,090,000 after purchasing an additional 147,455 shares during the period. Finally, Duff & Phelps Investment Management Co. lifted its holdings in shares of Kodiak Gas Services by 23.1% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 24,000 shares of the company’s stock valued at $482,000 after purchasing an additional 4,500 shares in the last quarter. 24.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KGS has been the topic of several research reports. Raymond James upped their price objective on Kodiak Gas Services from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Barclays initiated coverage on shares of Kodiak Gas Services in a research report on Wednesday, July 17th. They set an “equal weight” rating and a $29.00 target price on the stock. The Goldman Sachs Group increased their price objective on shares of Kodiak Gas Services from $27.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Truist Financial lifted their target price on shares of Kodiak Gas Services from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, Royal Bank of Canada raised their price target on Kodiak Gas Services from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, May 20th. Two investment analysts have rated the stock with a hold rating and four 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 $30.33.

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.