Kodiak Gas Services (NYSE:KGS) Announces Earnings Results

Kodiak Gas Services (NYSE:KGS) issued its quarterly earnings data on Thursday. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.12), Zacks reports. Kodiak Gas Services had a net margin of 5.77% and a return on equity of 14.26%. During the same period last year, the business earned $0.43 earnings per share. Kodiak Gas Services’s revenue for the quarter was up 21.2% on a year-over-year basis.

Kodiak Gas Services Price Performance

Shares of KGS stock traded up $3.03 during trading hours on Friday, reaching $59.89. The company had a trading volume of 3,005,269 shares, compared to its average volume of 1,662,930. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.99 and a current ratio of 1.28. The stock has a fifty day moving average of $66.13 and a 200-day moving average of $60.90. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 71.30, a PEG ratio of 0.84 and a beta of 0.97. Kodiak Gas Services has a 12-month low of $30.68 and a 12-month high of $77.68.

Kodiak Gas Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Monday, August 17th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, August 17th. Kodiak Gas Services’s payout ratio is currently 264.86%.

Analyst Ratings Changes

KGS has been the subject of a number of recent analyst reports. Wells Fargo & Company began coverage on Kodiak Gas Services in a research report on Wednesday, May 27th. They issued an “overweight” rating and a $93.00 price objective for the company. Royal Bank Of Canada increased their target price on Kodiak Gas Services from $64.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, May 18th. Barclays dropped their price target on shares of Kodiak Gas Services from $76.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 8th. Zacks Research raised shares of Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Kodiak Gas Services in a research report on Friday, May 29th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $79.33.

Insider Buying and Selling

In related news, COO William Chad Lenamon sold 1,000 shares of Kodiak Gas Services stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $67.79, for a total transaction of $67,790.00. Following the transaction, the chief operating officer owned 87,294 shares in the company, valued at approximately $5,917,660.26. This trade represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Ewan William Hamilton sold 2,729 shares of Kodiak Gas Services stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $68.62, for a total value of $187,263.98. Following the transaction, the chief accounting officer owned 31,617 shares in the company, valued at approximately $2,169,558.54. The trade was a 7.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,523 shares of company stock worth $921,319 in the last three months. Company insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp lifted its position in shares of Kodiak Gas Services by 0.9% during the fourth quarter. Van ECK Associates Corp now owns 23,640 shares of the company’s stock worth $884,000 after purchasing an additional 209 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Kodiak Gas Services by 2.7% in the second quarter. Captrust Financial Advisors now owns 16,925 shares of the company’s stock valued at $580,000 after purchasing an additional 448 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Kodiak Gas Services by 80.4% in 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. State of Wyoming grew its holdings in shares of Kodiak Gas Services by 201.7% in the fourth quarter. State of Wyoming now owns 1,219 shares of the company’s stock valued at $46,000 after purchasing an additional 815 shares in the last quarter. Finally, Gotham Asset Management LLC increased its stake in Kodiak Gas Services by 1.4% during the 4th quarter. Gotham Asset Management LLC now owns 71,843 shares of the company’s stock worth $2,687,000 after buying an additional 985 shares during the period. Institutional investors and hedge funds own 24.95% of the company’s stock.

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.