Kodiak Gas Services (NYSE:KGS) Announces Earnings Results

Kodiak Gas Services (NYSE:KGS) issued its quarterly earnings results on Monday. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates 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%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $0.33 EPS.

Kodiak Gas Services Price Performance

KGS opened at $69.64 on Monday. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.84 and a quick ratio of 0.57. The stock’s 50 day simple moving average is $60.00 and its 200 day simple moving average is $46.17. The firm 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 1 year low of $30.06 and a 1 year high of $71.92.

Kodiak Gas Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Monday, May 18th will be issued a dividend of $0.49 per share. The ex-dividend date is Monday, May 18th. This represents a $1.96 annualized dividend and a yield of 2.8%. Kodiak Gas Services’s dividend payout ratio is currently 225.29%.

Insider Buying and Selling

In other Kodiak Gas Services news, CAO Ewan William Hamilton sold 5,797 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $56.18, for a total value of $325,675.46. Following the completion of the sale, the chief accounting officer owned 34,346 shares in the company, valued at approximately $1,929,558.28. This trade represents a 14.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Pedro R. Buhigas sold 13,942 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $55.73, for a total value of $776,987.66. Following the transaction, the insider owned 42,723 shares of the company’s stock, valued at approximately $2,380,952.79. This represents a 24.60% decrease in their position. The SEC filing for this sale provides additional information. Over 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.

Institutional Trading of Kodiak Gas Services

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. grew its holdings in shares of Kodiak Gas Services by 29.5% during the 3rd quarter. Invesco Ltd. now owns 6,305,789 shares of the company’s stock worth $233,125,000 after acquiring an additional 1,436,443 shares during the period. CIBC Private Wealth Group LLC boosted its position in shares of Kodiak Gas Services by 3,046.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,471,663 shares of the company’s stock valued at $55,040,000 after purchasing an additional 1,424,888 shares in the last quarter. Zimmer Partners LP raised its holdings in Kodiak Gas Services by 45.7% in the fourth quarter. Zimmer Partners LP now owns 4,271,553 shares of the company’s stock worth $159,756,000 after purchasing an additional 1,339,849 shares in the last quarter. Ghisallo Capital Management LLC lifted its position in Kodiak Gas Services by 380.0% during the fourth quarter. Ghisallo Capital Management LLC now owns 1,200,000 shares of the company’s stock valued at $44,880,000 after buying an additional 950,000 shares during the period. Finally, State Street Corp boosted its holdings in shares of Kodiak Gas Services by 31.8% during the 4th quarter. State Street Corp now owns 3,340,008 shares of the company’s stock valued at $124,916,000 after buying an additional 806,191 shares in the last quarter. 24.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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