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

Kodiak Gas Services (NYSE:KGS) posted its quarterly earnings data on Wednesday. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03, Briefing.com reports. The firm had revenue of $215.50 million during the quarter, compared to the consensus estimate of $220.55 million. The firm’s quarterly 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 stock traded up $0.28 during trading hours on Thursday, reaching $28.26. The company had a trading volume of 547,855 shares, compared to its average volume of 441,611. The business has a fifty day simple moving average of $26.94 and a 200-day simple moving average of $22.66. Kodiak Gas Services has a 12 month low of $15.05 and a 12 month high of $29.00. The company has a quick ratio of 0.73, a current ratio of 1.10 and a debt-to-equity ratio of 1.57.

Kodiak Gas Services Dividend Announcement

The business also recently disclosed 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. This represents a $1.52 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date of this dividend is Friday, May 10th.

Analyst Ratings Changes

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

Insider Buying and Selling at Kodiak Gas Services

In other Kodiak Gas Services news, Director Margaret C. Montana bought 2,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were purchased at an average price 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 acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.18% of the company’s stock.

Kodiak Gas Services Company Profile

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.