Traders Buy High Volume of Kodiak Gas Services Put Options (NYSE:KGS)

Kodiak Gas Services, Inc. (NYSE:KGS) saw unusually large options trading on Monday. Traders purchased 3,505 put options on the stock. This is an increase of 105% compared to the average volume of 1,709 put options.

Kodiak Gas Services Stock Performance

Kodiak Gas Services stock opened at $34.52 on Wednesday. Kodiak Gas Services has a twelve month low of $29.25 and a twelve month high of $50.43. The company has a quick ratio of 0.69, a current ratio of 0.98 and a debt-to-equity ratio of 2.08. The company has a market capitalization of $2.99 billion, a P/E ratio of 43.15 and a beta of 1.33. The stock’s 50 day moving average is $34.97 and its 200 day moving average is $34.32.

Kodiak Gas Services (NYSE:KGS) last released its earnings results on Tuesday, November 4th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.14). The company had revenue of $322.74 million during the quarter, compared to analysts’ expectations of $328.23 million. Kodiak Gas Services had a return on equity of 10.37% and a net margin of 5.84%.The company’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.07) earnings per share. On average, equities research analysts predict that Kodiak Gas Services will post 1.12 earnings per share for the current fiscal year.

Kodiak Gas Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 3rd were paid a dividend of $0.49 per share. The ex-dividend date was Monday, November 3rd. This represents a $1.96 dividend on an annualized basis and a yield of 5.7%. This is an increase from Kodiak Gas Services’s previous quarterly dividend of $0.45. Kodiak Gas Services’s dividend payout ratio (DPR) is 245.00%.

Kodiak Gas Services declared that its Board of Directors has initiated a stock repurchase program on Monday, August 11th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Stifel Nicolaus set a $48.00 price objective on Kodiak Gas Services in a report on Thursday, November 6th. Mizuho upped their target price on Kodiak Gas Services from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Barclays cut their price target on shares of Kodiak Gas Services from $37.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. William Blair initiated coverage on shares of Kodiak Gas Services in a report on Tuesday, November 18th. They issued an “outperform” rating for the company. Finally, Zacks Research cut shares of Kodiak Gas Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Kodiak Gas Services has an average rating of “Moderate Buy” and a consensus target price of $44.71.

Institutional Investors Weigh In On Kodiak Gas Services

Institutional investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd raised its holdings in Kodiak Gas Services by 4.6% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 8,180 shares of the company’s stock worth $280,000 after acquiring an additional 360 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Kodiak Gas Services by 2.7% in the 2nd quarter. Captrust Financial Advisors now owns 16,925 shares of the company’s stock worth $580,000 after purchasing an additional 448 shares in the last quarter. CWM LLC raised its stake in shares of Kodiak Gas Services by 4.3% in the second quarter. CWM LLC now owns 14,804 shares of the company’s stock worth $507,000 after purchasing an additional 608 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Kodiak Gas Services by 80.4% during the third quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company’s stock valued at $54,000 after purchasing an additional 646 shares in the last quarter. Finally, Amplify Investments LLC lifted its holdings in shares of Kodiak Gas Services by 35.7% during the third quarter. Amplify Investments LLC now owns 2,660 shares of the company’s stock valued at $98,000 after purchasing an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Company Profile

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.