Kodiak Gas Services, Inc. (NYSE:KGS) Sees Large Increase in Short Interest

Kodiak Gas Services, Inc. (NYSE:KGS) saw 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. Currently, 11.9% of the company’s shares are short sold. Based on an average daily volume of 463,100 shares, the days-to-cover ratio is currently 4.5 days.

Insider Buying and Selling

In other news, Director Margaret C. Montana acquired 2,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were acquired at an average cost of $25.25 per share, with a total value of $50,500.00. Following the transaction, the director now owns 16,375 shares in the company, valued at approximately $413,468.75. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Kodiak Gas Services

Large investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC purchased a new position in shares of Kodiak Gas Services during the 2nd quarter worth $23,706,000. Zimmer Partners LP purchased a new position in shares of Kodiak Gas Services during the 2nd quarter worth $21,112,000. Goldman Sachs Group Inc. boosted its stake in shares of Kodiak Gas Services by 20.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,279,636 shares of the company’s stock worth $25,695,000 after acquiring an additional 215,570 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Kodiak Gas Services by 15.5% during the 4th quarter. Vanguard Group Inc. now owns 1,117,752 shares of the company’s stock worth $22,444,000 after acquiring an additional 149,953 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Kodiak Gas Services by 1.0% during the 3rd quarter. Invesco Ltd. now owns 1,009,550 shares of the company’s stock worth $18,051,000 after acquiring an additional 9,550 shares during the last quarter. Institutional investors own 24.95% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on KGS shares. The Goldman Sachs Group lifted their price objective on Kodiak Gas Services from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their price target on Kodiak Gas Services from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Raymond James raised their price objective on Kodiak Gas Services from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday. 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 analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Kodiak Gas Services presently has an average rating of “Moderate Buy” and a consensus target price of $26.14.

Kodiak Gas Services Stock Down 0.3 %

Shares of KGS traded down $0.08 on Tuesday, hitting $26.55. 403,069 shares of the stock traded hands, compared to its average volume of 469,217. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.73. The business has a 50 day simple moving average of $26.03 and a 200 day simple moving average of $21.60. Kodiak Gas Services has a one year low of $15.05 and a one year high of $29.00.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings results on Wednesday, March 6th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). The company had revenue of $225.98 million for the quarter, compared to the consensus estimate of $224.45 million. On average, equities analysts forecast that Kodiak Gas Services will post 1.82 EPS for the current year.

Kodiak Gas Services Announces Dividend

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

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.