Kodiak Gas Services (NYSE:KGS) Posts Earnings Results, Beats Expectations By $0.03 EPS

Kodiak Gas Services (NYSE:KGS) released its quarterly earnings data on Wednesday. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03, Briefing.com reports. The company had revenue of $215.50 million for the quarter, compared to analyst estimates of $220.55 million. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. Kodiak Gas Services updated its FY 2024 guidance to EPS.

Kodiak Gas Services Stock Performance

Shares of NYSE KGS traded up $0.28 during mid-day trading on Thursday, reaching $28.26. 547,602 shares of the company’s stock were exchanged, compared to its average volume of 440,551. The company has a current ratio of 1.10, a quick ratio of 0.73 and a debt-to-equity ratio of 1.57. Kodiak Gas Services has a 52 week low of $15.05 and a 52 week high of $29.00. The firm has a 50-day moving average price of $26.94 and a two-hundred day moving average price of $22.66.

Kodiak Gas Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 5.38%. The ex-dividend date of this dividend is Friday, May 10th.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Raymond James boosted their price objective on Kodiak Gas Services from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. raised their price objective on shares of Kodiak Gas Services from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Finally, The Goldman Sachs Group lifted their target price on Kodiak Gas Services from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.14.

Insider Transactions at Kodiak Gas Services

In other news, Director Margaret C. Montana purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was bought at an average price of $25.25 per share, for a total transaction of $50,500.00. Following the purchase, the director now owns 16,375 shares of the company’s stock, valued at $413,468.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by company insiders.

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.