JPMorgan Chase & Co. Issues Positive Forecast for Kodiak Gas Services (NYSE:KGS) Stock Price

Kodiak Gas Services (NYSE:KGS) had its price target raised by JPMorgan Chase & Co. from $34.00 to $42.00 in a research report report published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the stock. Citigroup began coverage on shares of Kodiak Gas Services in a research report on Friday, September 27th. They issued a “buy” rating and a $35.00 price target for the company. Royal Bank of Canada upped their target price 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. Raymond James increased their price target on Kodiak Gas Services from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Mizuho began coverage on Kodiak Gas Services in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $36.00 price objective on the stock. Finally, The Goldman Sachs Group increased their target price on Kodiak Gas Services from $32.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. 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.com, Kodiak Gas Services has a consensus rating of “Moderate Buy” and a consensus price target of $37.09.

Kodiak Gas Services Stock Up 1.6 %

KGS stock opened at $40.44 on Friday. The business’s 50-day moving average price is $33.44 and its 200-day moving average price is $29.36. The stock has a market cap of $3.54 billion, a P/E ratio of 139.45 and a beta of 0.79. 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 $41.25.

Kodiak Gas Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend was Friday, November 1st. Kodiak Gas Services’s payout ratio is presently 565.54%.

Insider Buying and Selling at Kodiak Gas Services

In other news, insider Ewan William Hamilton sold 3,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $40.45, for a total value of $121,350.00. Following the sale, the insider now directly owns 31,745 shares in the company, valued at $1,284,085.25. The trade was a 8.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its position in Kodiak Gas Services by 444.4% during the third quarter. FMR LLC now owns 4,889,804 shares of the company’s stock valued at $141,804,000 after purchasing an additional 3,991,630 shares during the period. Zimmer Partners LP increased its position in shares of Kodiak Gas Services by 313.0% during 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 last quarter. Wellington Management Group LLP purchased a new stake in Kodiak Gas Services during the 3rd quarter valued at $44,558,000. HITE Hedge Asset Management LLC lifted its position in Kodiak Gas Services by 74.8% in the second quarter. HITE Hedge Asset Management LLC now owns 780,600 shares of the company’s stock worth $21,279,000 after buying an additional 334,086 shares during the last quarter. Finally, State Street Corp boosted its stake in Kodiak Gas Services by 8.7% during the third quarter. State Street Corp now owns 678,925 shares of the company’s stock worth $19,689,000 after buying an additional 54,202 shares during the period. 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.