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

Kodiak Gas Services (NYSE:KGS) announced its quarterly earnings data on Monday. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08, FiscalAI reports. The business had revenue of $401.79 million during the quarter, compared to analysts’ expectations of $387.50 million. Kodiak Gas Services had a net margin of 5.77% and a return on equity of 11.92%.

Kodiak Gas Services Price Performance

NYSE:KGS opened at $41.70 on Monday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.45 and a quick ratio of 1.15. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 49.64 and a beta of 1.07. The company has a 50 day moving average price of $52.86 and a 200-day moving average price of $59.09. Kodiak Gas Services has a 1-year low of $32.55 and a 1-year high of $77.68.

Kodiak Gas Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, November 16th. This is a positive change from Kodiak Gas Services’s previous quarterly dividend of $0.49. Kodiak Gas Services’s dividend payout ratio is 233.33%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KGS. Bank of America decreased their target price on shares of Kodiak Gas Services from $83.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, October 27th. UBS Group reaffirmed a “buy” rating on shares of Kodiak Gas Services in a research report on Friday, October 16th. Royal Bank Of Canada cut their price target on Kodiak Gas Services from $88.00 to $82.00 and set an “outperform” rating on the stock in a research report on Friday, October 16th. Zacks Research lowered Kodiak Gas Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 27th. Finally, Citigroup decreased their price objective on Kodiak Gas Services from $86.00 to $82.00 and set a “buy” rating for the company in a report on Friday, October 9th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $78.09.

Insider Activity at Kodiak Gas Services

In related news, COO William Lenamon sold 1,000 shares of the firm’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $53.25, for a total transaction of $53,250.00. Following the sale, the chief operating officer owned 84,294 shares in the company, valued at approximately $4,488,655.50. This trade represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pedro R. Buhigas sold 3,663 shares of Kodiak Gas Services stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $58.14, for a total transaction of $212,966.82. Following the completion of the transaction, the insider directly owned 32,413 shares of the company’s stock, valued at $1,884,491.82. The trade was a 10.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,002 shares of company stock worth $1,325,334 in the last three months. Company insiders own 0.64% of the company’s stock.

About Kodiak Gas Services

Kodiak Gas Services provides contract natural gas compression services to energy companies in the United States. Its equipment helps move natural gas from production sites through gathering and processing systems and into pipelines.

The company supplies, installs, operates and maintains compression equipment, including large-horsepower compressor units. Its services support natural gas production and transportation across major U.S. oil and gas regions.

Based in The Woodlands, Texas, Kodiak became a publicly traded company in 2023.