Kodiak Gas Services (NYSE:KGS) Price Target Raised to $31.00 at Royal Bank of Canada

Kodiak Gas Services (NYSE:KGS) had its price target upped by Royal Bank of Canada from $30.00 to $31.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 18.41% from the stock’s previous close.

Several other brokerages have also recently commented on KGS. Stifel Nicolaus increased their target price on shares of Kodiak Gas Services from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Truist Financial boosted their price target on shares of Kodiak Gas Services from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Barclays initiated coverage on Kodiak Gas Services in a report on Wednesday, July 17th. They issued an “equal weight” rating and a $29.00 price objective for the company. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Kodiak Gas Services has an average rating of “Moderate Buy” and an average price target of $31.57.

Kodiak Gas Services Stock Up 1.2 %

NYSE KGS traded up $0.32 during trading on Wednesday, hitting $26.18. The stock had a trading volume of 64,071 shares, compared to its average volume of 465,861. Kodiak Gas Services has a 12 month low of $16.72 and a 12 month 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. The company’s 50-day moving average price is $27.21 and its two-hundred day moving average price is $26.75. The company has a market capitalization of $2.21 billion, a PE ratio of 29.78 and a beta of 0.92.

Institutional Investors Weigh In On Kodiak Gas Services

A number of large investors have recently added to or reduced their stakes in KGS. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Kodiak Gas Services during the fourth quarter worth $127,000. New York State Common Retirement Fund increased its position in Kodiak Gas Services by 204.6% during the 4th quarter. New York State Common Retirement Fund now owns 10,129 shares of the company’s stock worth $203,000 after buying an additional 6,804 shares during the period. Russell Investments Group Ltd. increased its position in Kodiak Gas Services by 48.3% during the 4th quarter. Russell Investments Group Ltd. now owns 452,710 shares of the company’s stock worth $9,090,000 after buying an additional 147,455 shares during the period. Duff & Phelps Investment Management Co. lifted its holdings in shares of Kodiak Gas Services by 23.1% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 24,000 shares of the company’s stock worth $482,000 after buying an additional 4,500 shares in the last quarter. Finally, Swiss National Bank acquired a new position in shares of Kodiak Gas Services in the fourth quarter valued at about $920,000. 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.