Short Interest in Kodiak Gas Services, Inc. (NYSE:KGS) Grows By 15.4%

Kodiak Gas Services, Inc. (NYSE:KGS) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 2,100,000 shares, a growth of 15.4% from the March 15th total of 1,820,000 shares. Based on an average trading volume of 463,100 shares, the short-interest ratio is currently 4.5 days. Currently, 11.9% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KGS. Raymond James lifted their price target on Kodiak Gas Services from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on Kodiak Gas Services from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. The Goldman Sachs Group raised their price objective on shares of Kodiak Gas Services from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Truist Financial dropped their target price on Kodiak Gas Services from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, December 20th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.14.

Kodiak Gas Services Stock Down 0.3 %

KGS traded down $0.08 during trading on Tuesday, reaching $26.55. The stock had a trading volume of 403,069 shares, compared to its average volume of 469,217. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.73 and a current ratio of 1.10. Kodiak Gas Services has a 1-year low of $15.05 and a 1-year high of $29.00. The stock has a 50 day moving average of $26.03 and a two-hundred day moving average of $21.60.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings data on Wednesday, March 6th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The firm had revenue of $225.98 million during the quarter, compared to the consensus estimate of $224.45 million. Equities analysts predict that Kodiak Gas Services will post 1.82 EPS for the current year.

Kodiak Gas Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 16th were issued a $0.38 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.73%.

Insiders Place Their Bets

In other Kodiak Gas Services news, Director Margaret C. Montana bought 2,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were purchased at an average price of $25.25 per share, with a total value of $50,500.00. Following the completion of the acquisition, the director now directly owns 16,375 shares of the company’s stock, valued at approximately $413,468.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Kodiak Gas Services

A number of hedge funds have recently modified their holdings of KGS. Amalgamated Bank purchased a new stake in shares of Kodiak Gas Services in the third quarter valued at $32,000. Deutsche Bank AG acquired a new position in shares of Kodiak Gas Services in the third quarter worth $38,000. PNC Financial Services Group Inc. acquired a new position in shares of Kodiak Gas Services in the fourth quarter worth $46,000. Barclays PLC acquired a new position in shares of Kodiak Gas Services in the third quarter worth $53,000. Finally, Strs Ohio acquired a new position in shares of Kodiak Gas Services in the third quarter worth $57,000. 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.