Insider Buying: Kodiak Gas Services (NYSE:KGS) Director Buys $449,900.00 in Stock

Key Points

• Director Alexander Darden bought 10,000 shares for $449,900 at $44.99 per share, increasing his stake by 140.15% to 17,135 shares.
• Kodiak reported quarterly EPS of $0.70, beating the $0.62 estimate, while revenue rose 24.5% year over year to $401.79 million.
• The company raised its quarterly dividend from $0.49 to $0.51 per share, equivalent to a 4.6% yield; analysts’ average rating is “Moderate Buy,” with a $73.67 price target.

Kodiak Gas Services, Inc. (NYSE:KGS - Get Free Report) Director Alexander Darden bought 10,000 shares of the company's stock in a transaction dated Wednesday, November 11th. The shares were acquired at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the acquisition, the director owned 17,135 shares in the company, valued at approximately $770,903.65. This represents a 140.15% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Kodiak Gas Services Stock Up 0.5%

Shares of NYSE:KGS traded up $0.23 during midday trading on Friday, reaching $44.63. The company's stock had a trading volume of 2,155,217 shares, compared to its average volume of 1,770,319. The firm has a 50 day moving average of $51.61 and a 200-day moving average of $59.16. The firm has a market capitalization of $4.52 billion, a P/E ratio of 26.10, a PEG ratio of 0.72 and a beta of 1.07. The company has a quick ratio of 1.15, a current ratio of 1.31 and a debt-to-equity ratio of 1.28. Kodiak Gas Services, Inc. has a 12-month low of $32.55 and a 12-month high of $77.68.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its quarterly earnings results on Monday, November 9th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. Kodiak Gas Services had a net margin of 11.28% and a return on equity of 12.62%. The company had revenue of $401.79 million during the quarter, compared to analysts' expectations of $387.50 million. During the same period last year, the company posted $0.36 EPS. Kodiak Gas Services's revenue was up 24.5% on a year-over-year basis. On average, research analysts anticipate that Kodiak Gas Services, Inc. will post 2.46 earnings per share for the current year.

Kodiak Gas Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.51 per share. This is a positive change from Kodiak Gas Services's previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, November 16th. Kodiak Gas Services's payout ratio is 114.62%.

Institutional Trading of Kodiak Gas Services

A number of institutional investors and hedge funds have recently bought and sold shares of KGS. Public Employees Retirement System of Ohio bought a new position in shares of Kodiak Gas Services in the second quarter worth approximately $29,000. Core Capital Management & Research inc. bought a new stake in shares of Kodiak Gas Services during the second quarter valued at approximately $64,000. Harbor Investment Advisory LLC bought a new stake in shares of Kodiak Gas Services during the second quarter valued at approximately $76,000. Allworth Financial LP bought a new stake in shares of Kodiak Gas Services during the second quarter valued at approximately $80,000. Finally, PNC Financial Services Group Inc. raised its holdings in Kodiak Gas Services by 29.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,545 shares of the company's stock worth $90,000 after acquiring an additional 352 shares during the last quarter. 24.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

KGS has been the topic of a number of analyst reports. Mizuho dropped their price target on Kodiak Gas Services from $72.00 to $68.00 and set an "outperform" rating on the stock in a research report on Tuesday. Royal Bank Of Canada reduced their price objective on Kodiak Gas Services from $82.00 to $78.00 and set an "outperform" rating for the company in a research report on Tuesday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Kodiak Gas Services in a research report on Wednesday, August 26th. Bank of America lowered their price objective on Kodiak Gas Services from $83.00 to $74.00 and set a "buy" rating for the company in a research note on Tuesday, October 27th. Finally, JPMorgan Chase & Co. dropped their target price on Kodiak Gas Services from $79.00 to $78.00 and set an "overweight" rating on the stock in a report on Thursday, October 8th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $73.67.

Recent Kodiak Gas Services Headlines

Investors following KGS have been watching these headlines:

• Positive Sentiment: Kodiak raised its quarterly dividend to $0.51 per share from $0.49, a 4% increase. The company also recently beat quarterly earnings and revenue estimates, with revenue up 24.5% year over year. Company and earnings information
• Positive Sentiment: Director Margaret Montana bought 1,000 shares for about $44,260, increasing her stake by 3.49%. SEC filing
• Neutral Sentiment: Wells Fargo cut its price target to $66 from $93 but kept an Overweight rating; Citigroup lowered its target to $75 from $82 and retained Buy. RBC, Stifel and Mizuho also trimmed targets while maintaining positive ratings. The cuts may temper sentiment, although the targets remain above the recently cited share price. Wells Fargo analyst rating Citigroup analyst rating

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.

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