Kodiak Gas Services, Inc. (NYSE:KGS) to Issue $0.41 Quarterly Dividend

Kodiak Gas Services, Inc. (NYSE:KGS) announced a quarterly dividend on Monday, October 21st, NASDAQ reports. Stockholders of record on Friday, November 1st will be given a dividend of 0.41 per share on Friday, November 8th. This represents a $1.64 annualized dividend and a dividend yield of 5.28%. The ex-dividend date is Friday, November 1st.

Kodiak Gas Services has a dividend payout ratio of 85.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Kodiak Gas Services to earn $1.97 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 83.2%.

Kodiak Gas Services Stock Up 0.5 %

KGS stock traded up $0.16 during midday trading on Tuesday, reaching $31.06. 387,335 shares of the company’s stock traded hands, compared to its average volume of 518,446. The company has a quick ratio of 0.70, a current ratio of 1.05 and a debt-to-equity ratio of 1.70. The firm’s fifty day moving average price is $28.49 and its 200-day moving average price is $27.72. Kodiak Gas Services has a 52 week low of $16.72 and a 52 week high of $32.77. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 35.28 and a beta of 0.89.

Kodiak Gas Services (NYSE:KGS) last posted its earnings results on Monday, August 12th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The business had revenue of $309.65 million during the quarter, compared to analyst estimates of $313.88 million. Kodiak Gas Services had a return on equity of 7.20% and a net margin of 5.23%. As a group, sell-side analysts forecast that Kodiak Gas Services will post 1.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on KGS. Stifel Nicolaus lifted their target price on Kodiak Gas Services from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Citigroup started coverage on shares of Kodiak Gas Services in a research note on Friday, September 27th. They issued a “buy” rating and a $35.00 target price for the company. Redburn Atlantic began coverage on shares of Kodiak Gas Services in a report on Thursday, September 19th. They issued a “buy” rating and a $35.00 target price for the company. Barclays boosted their price target on shares of Kodiak Gas Services from $29.00 to $32.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Bank of America started coverage on shares of Kodiak Gas Services in a research note on Wednesday, September 18th. They issued a “buy” rating and a $30.00 price objective for the company. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Kodiak Gas Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.09.

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.