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

Kodiak Gas Services (NYSE:KGS) issued its earnings results on Wednesday. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03, Briefing.com reports. The firm had revenue of $215.50 million for the quarter, compared to analysts’ expectations of $220.55 million. The firm’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 Stock Performance

Shares of KGS traded up $0.28 during midday trading on Thursday, hitting $28.26. The company had a trading volume of 547,855 shares, compared to its average volume of 441,611. The company’s 50-day simple moving average is $26.94 and its 200-day simple moving average is $22.66. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.73 and a current ratio of 1.10. Kodiak Gas Services has a 1 year low of $15.05 and a 1 year high of $29.00.

Kodiak Gas Services Announces Dividend

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

Insider Activity at Kodiak Gas Services

In related news, Director Margaret C. Montana purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were purchased at an average cost of $25.25 per share, for a total transaction of $50,500.00. Following the purchase, the director now directly owns 16,375 shares of the company’s stock, valued at $413,468.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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