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

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

Kodiak Gas Services Stock Performance

NYSE KGS traded up $3.03 during trading hours on Friday, reaching $59.89. The stock had a trading volume of 3,005,269 shares, compared to its average volume of 1,662,930. The stock has a fifty day moving average of $66.13 and a 200 day moving average of $60.90. The stock has a market cap of $5.32 billion, a P/E ratio of 71.30, a price-to-earnings-growth ratio of 0.84 and a beta of 0.97. Kodiak Gas Services has a 52-week low of $30.68 and a 52-week high of $77.68. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.99 and a current ratio of 1.28.

Kodiak Gas Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KGS. Citigroup raised their price objective on Kodiak Gas Services from $63.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Jefferies Financial Group initiated coverage on Kodiak Gas Services in a research report on Thursday, June 4th. They set a “buy” rating and a $79.00 target price on the stock. Piper Sandler assumed coverage on Kodiak Gas Services in a research note on Tuesday, July 28th. They issued an “overweight” rating and a $78.00 price target for the company. Royal Bank Of Canada raised their price target on Kodiak Gas Services from $64.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, May 18th. Finally, Barclays lowered their price target on Kodiak Gas Services from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, July 8th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Kodiak Gas Services currently has an average rating of “Moderate Buy” and a consensus target price of $79.33.

Insider Buying and Selling at Kodiak Gas Services

In other news, CAO Ewan William Hamilton sold 2,729 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $68.62, for a total value of $187,263.98. Following the sale, the chief accounting officer directly owned 31,617 shares of the company’s stock, valued at $2,169,558.54. This represents a 7.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pedro R. Buhigas sold 4,625 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $67.78, for a total transaction of $313,482.50. Following the completion of the sale, the insider owned 38,454 shares in the company, valued at $2,606,412.12. The trade was a 10.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,523 shares of company stock worth $921,319 in the last 90 days. Corporate insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Kodiak Gas Services

Hedge funds have recently added to or reduced their stakes in the business. Amundi purchased a new position in Kodiak Gas Services in the fourth quarter valued at $246,000. Aigen Investment Management LP acquired a new position in shares of Kodiak Gas Services in the fourth quarter worth about $216,000. Xponance LLC purchased a new stake in shares of Kodiak Gas Services during the 4th quarter worth about $253,000. CIBC Bancorp USA Inc. purchased a new stake in shares of Kodiak Gas Services during the 3rd quarter worth about $266,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Kodiak Gas Services by 37.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,779 shares of the company’s stock worth $267,000 after acquiring an additional 2,100 shares in the last quarter. 24.95% of the stock is 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.