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

Kodiak Gas Services (NYSE:KGS) posted its earnings results 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 business had revenue of $215.50 million for the quarter, compared to analyst estimates of $220.55 million. Kodiak Gas Services’s revenue was up 13.4% on a year-over-year basis. Kodiak Gas Services updated its FY 2024 guidance to EPS.

Kodiak Gas Services Trading Up 1.0 %

Shares of KGS traded up $0.28 during trading hours on Thursday, reaching $28.26. 547,602 shares of the company’s stock traded hands, compared to its average volume of 440,551. The business’s fifty day simple moving average is $26.94 and its two-hundred day simple moving average is $22.66. Kodiak Gas Services has a twelve month low of $15.05 and a twelve month high of $29.00. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.73.

Kodiak Gas Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, May 10th. This represents a $1.52 dividend on an annualized basis and a yield of 5.38%.

Insider Buying and Selling at Kodiak Gas Services

In other news, Director Margaret C. Montana purchased 2,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were bought at an average cost of $25.25 per share, for a total transaction of $50,500.00. Following the transaction, the director now owns 16,375 shares in the company, valued at $413,468.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.