Short Interest in Kodiak Gas Services, Inc. (NYSE:KGS) Rises By 33.5%

Kodiak Gas Services, Inc. (NYSE:KGS) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 3,510,000 shares, a growth of 33.5% from the December 15th total of 2,630,000 shares. Based on an average daily trading volume, of 789,500 shares, the days-to-cover ratio is presently 4.4 days. Approximately 7.7% of the shares of the stock are sold short.

Kodiak Gas Services Stock Up 0.6 %

NYSE:KGS opened at $47.35 on Friday. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 163.28 and a beta of 1.15. Kodiak Gas Services has a twelve month low of $21.18 and a twelve month high of $47.73. The company has a current ratio of 1.27, a quick ratio of 0.93 and a debt-to-equity ratio of 1.86. The stock has a fifty day simple moving average of $40.83 and a 200-day simple moving average of $32.98.

Kodiak Gas Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were issued a dividend of $0.41 per share. The ex-dividend date was Friday, November 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.46%. Kodiak Gas Services’s payout ratio is 565.54%.

Insider Buying and Selling at Kodiak Gas Services

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

Institutional Investors Weigh In On Kodiak Gas Services

Large investors have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of 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 acquiring an additional 3,991,630 shares in the last quarter. Zimmer Partners LP raised its position in 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 in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Kodiak Gas Services in the 3rd quarter worth $44,558,000. HITE Hedge Asset Management LLC grew its position in shares of Kodiak Gas Services by 74.8% during the 2nd 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 in the last quarter. Finally, State Street Corp increased its stake in shares of Kodiak Gas Services by 8.7% during the third quarter. State Street Corp now owns 678,925 shares of the company’s stock valued at $19,689,000 after buying an additional 54,202 shares during the period. 24.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KGS has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price target on Kodiak Gas Services from $34.00 to $42.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Truist Financial lifted their target price on Kodiak Gas Services from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Citigroup boosted their target price on Kodiak Gas Services from $41.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday. Mizuho initiated coverage on Kodiak Gas Services in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $36.00 price target for the company. Finally, Raymond James boosted their price objective on shares of Kodiak Gas Services from $35.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.36.

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.