Kodiak Gas ServicesNYSE: KGS

Sometimes, the best stocks to buy aren't the ones everyone is talking about — it's the underdog stocks. But those aren't usually the default go-to's for most investors, either because they don't have a ton of confidence in them or they have FOMO for the headline-grabbing stocks.

Lower equipment demand and significant debt exposures are matters of concern, making the outlook for the Zacks Oil and Gas- Mechanical and Equipment industry gloomy. Kodiak Gas (KGS), Oil States, (OIS), Matrix Service (MTRX) and Profire Energy (PFIE) are trying to survive industry challenges.

Kodiak Gas (KGS) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

MONTGOMERY, Texas , Feb. 20, 2024 /PRNewswire/ -- Kodiak Gas Services, Inc. (NYSE: KGS), ("Kodiak" or the "Company"), a leading provider of critical energy infrastructure and contract compression services, today announced that it will release 2023 fourth quarter and full year financial results on Wednesday, March 6, 2024 after the market closes.  In conjunction with the release, the Company has scheduled a conference call, which will also be broadcast live over the Internet, on Thursday, March 7, 2024 at 11:00 a.m.

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Kodiak Gas Services has seen a soft IPO. The company carries a lot of debt post the offering, which makes investors nervous given cyclical end markets. I am very cautious here given these observations and not tempted to buy shares here.

Kodiak Gas Services made its foray into the stock market at a valuation of $1.2 billion on Thursday in a tepid debut, as investors continue to remain wary of new listings after a volatile period in the capitals market.

Kodiak Gas Services, Inc late Wednesday announced that its initial public offering (IPO) of 16 million of its common shares will be priced at $16 per share, below the previous range of between $19 and $22 per share.     Kodiak, which provides compression equipment to help with oil and gas production, had initially intended to raise up to $352 million in its go-public transaction.

Kodiak Gas Services Inc. on Wednesday priced its initial public offering of 16 million shares at $16 apiece, below a prior range of between $19 and $22. Shares of the company, which runs compression equipment to help with oil and gas production, are set to start trading on the New York Stock Exchange on Thursday under the ticker “KGS.