Kodiak Gas Services (NYSE:KGS) Announces Quarterly Earnings Results

Kodiak Gas Services (NYSE:KGS) issued its earnings results on Monday. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.05, Briefing.com reports. Kodiak Gas Services had a net margin of 6.16% and a return on equity of 11.55%. During the same period in the prior year, the firm earned $0.33 EPS. The company’s revenue was up 4.9% on a year-over-year basis.

Kodiak Gas Services Stock Performance

KGS opened at $69.64 on Monday. The company’s 50 day moving average is $60.00 and its 200 day moving average is $46.17. The company has a current ratio of 0.84, a quick ratio of 0.57 and a debt-to-equity ratio of 2.12. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 80.05, a PEG ratio of 0.96 and a beta of 1.01. Kodiak Gas Services has a 12-month low of $30.06 and a 12-month high of $71.92.

Kodiak Gas Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Monday, May 18th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.8%. Kodiak Gas Services’s dividend payout ratio (DPR) is presently 225.29%.

Analysts Set New Price Targets

KGS has been the subject of a number of recent analyst reports. Barclays boosted their price objective on shares of Kodiak Gas Services from $49.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Wall Street Zen raised Kodiak Gas Services from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Zacks Research upgraded Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Mizuho upped their price target on Kodiak Gas Services from $36.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Finally, Citigroup increased their price objective on Kodiak Gas Services from $53.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.86.

Insider Buying and Selling at Kodiak Gas Services

In other Kodiak Gas Services news, Director Randall J. Hogan purchased 6,000 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were acquired at an average cost of $54.81 per share, for a total transaction of $328,860.00. Following the completion of the transaction, the director owned 28,406 shares of the company’s stock, valued at approximately $1,556,932.86. The trade was a 26.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Pedro R. Buhigas sold 13,942 shares of Kodiak Gas Services stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $55.73, for a total transaction of $776,987.66. Following the transaction, the insider owned 42,723 shares in the company, valued at $2,380,952.79. This represents a 24.60% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders bought 11,433 shares of company stock valued at $624,360 and sold 58,673 shares valued at $3,269,110. Corporate insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Kodiak Gas Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. State of Wyoming increased its position in Kodiak Gas Services by 201.7% in the fourth quarter. State of Wyoming now owns 1,219 shares of the company’s stock worth $46,000 after buying an additional 815 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Kodiak Gas Services by 1,501.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company’s stock valued at $42,000 after buying an additional 1,156 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Kodiak Gas Services by 80.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company’s stock valued at $54,000 after buying an additional 646 shares in the last quarter. Uniplan Investment Counsel Inc. bought a new position in shares of Kodiak Gas Services during the 4th quarter valued at approximately $108,000. Finally, Cibc World Markets Corp bought a new position in shares of Kodiak Gas Services during the 4th quarter valued at approximately $209,000. 24.95% of the stock is currently owned by hedge funds and other institutional investors.

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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.