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

Kodiak Gas Services (NYSE:KGS) announced 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 analysts’ expectations of $220.55 million. The business’s revenue was up 13.4% compared to the same quarter last year. Kodiak Gas Services updated its FY 2024 guidance to EPS.

Kodiak Gas Services Price Performance

Kodiak Gas Services stock traded up $0.43 during midday trading on Thursday, reaching $28.41. The company’s stock had a trading volume of 259,487 shares, compared to its average volume of 439,128. Kodiak Gas Services has a fifty-two week low of $15.05 and a fifty-two week 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. The stock’s 50 day simple moving average is $26.94 and its 200 day simple moving average is $22.66.

Kodiak Gas Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date is Friday, May 10th.

Insider Buying and Selling 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 acquired at an average price of $25.25 per share, with a total value of $50,500.00. Following the purchase, the director now directly owns 16,375 shares of the company’s stock, valued at approximately $413,468.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Kodiak Gas Services from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Raymond James raised their target price on shares of Kodiak Gas Services from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. raised 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 research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.