Kodiak Gas Services, LLC’s (NYSE:KGS) Quiet Period Set To Expire on August 8th

Posted by on Aug 1st, 2023

Kodiak Gas Services’ (NYSE:KGS – Get Free Report) quiet period is set to expire on Tuesday, August 8th. Kodiak Gas Services had issued 16,000,000 shares in its initial public offering on June 29th. The total size of the offering was $256,000,000 based on an initial share price of $16.00. During the company’s quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on KGS shares. JPMorgan Chase & Co. initiated coverage on shares of Kodiak Gas Services in a research note on Monday, July 24th. They set an “overweight” rating and a $24.00 price objective on the stock. Raymond James assumed coverage on shares of Kodiak Gas Services in a report on Monday, July 24th. They set an “outperform” rating and a $21.00 target price on the stock. Stifel Nicolaus assumed coverage on shares of Kodiak Gas Services in a report on Monday, July 24th. They issued a “buy” rating and a $22.00 price objective on the stock. Truist Financial assumed coverage on shares of Kodiak Gas Services in a report on Monday, July 24th. They issued a “buy” rating and a $24.00 price objective on the stock. Finally, Royal Bank of Canada assumed coverage on shares of Kodiak Gas Services in a research note on Monday, July 24th. They issued an “outperform” rating and a $25.00 price target on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.86.

Kodiak Gas Services Stock Down 1.4 %

Shares of KGS opened at $18.70 on Tuesday. Kodiak Gas Services has a 12-month low of $15.05 and a 12-month high of $19.38.

Insider Activity

In related news, Director Randall J. Hogan bought 3,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were purchased at an average cost of $16.00 per share, with a total value of $48,000.00. Following the completion of the purchase, the director now owns 12,375 shares in the company, valued at approximately $198,000. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Ewan William Hamilton purchased 2,500 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was acquired at an average price of $16.00 per share, for a total transaction of $40,000.00. Following the acquisition, the insider now directly owns 19,375 shares of the company’s stock, valued at approximately $310,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Randall J. Hogan bought 3,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were bought at an average cost of $16.00 per share, for a total transaction of $48,000.00. Following the transaction, the director now owns 12,375 shares in the company, valued at approximately $198,000. The disclosure for this purchase can be found here.

Institutional Investors Weigh In On Kodiak Gas Services

A hedge fund recently bought a new stake in Kodiak Gas Services stock. Eagle Global Advisors LLC purchased a new stake in shares of Kodiak Gas Services, LLC (NYSE:KGS – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 430,000 shares of the company’s stock, valued at approximately $6,983,000. Eagle Global Advisors LLC owned approximately 0.57% of Kodiak Gas Services at the end of the most recent quarter.

About Kodiak Gas Services

(Get Free Report)

Kodiak Gas Services, LLC provides contract compression infrastructure services for the oil and gas industry in the United States. The company was founded in 2010 and is based in Montgomery, Texas. Kodiak Gas Services, LLC is a subsidiary of Kodiak Gas Services, Inc

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