Kodiak Gas Services (NYSE:KGS) Director Purchases 1,000 Shares of Stock

Key Points

• Director Margaret Montana purchased 1,000 Kodiak Gas Services shares at an average of $44.26 each, increasing her stake by 3.49% to 29,651 shares.
• Quarterly results beat estimates: earnings were $0.70 per share versus $0.62 expected, while revenue rose 24.5% year over year to $401.79 million. The company also raised its quarterly dividend from $0.49 to $0.51 per share.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $75.92; ratings range from 14 Buy recommendations to one Hold and one Sell.

Kodiak Gas Services, Inc. (NYSE:KGS - Get Free Report) Director Margaret Montana acquired 1,000 shares of the business's stock in a transaction that occurred on Wednesday, November 11th. The shares were purchased at an average cost of $44.26 per share, for a total transaction of $44,260.00. Following the completion of the transaction, the director directly owned 29,651 shares in the company, valued at $1,312,353.26. The trade was a 3.49% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Kodiak Gas Services Stock Up 1.1%

NYSE:KGS traded up $0.50 on Thursday, reaching $44.36. 2,940,982 shares of the stock traded hands, compared to its average volume of 1,768,813. The company has a current ratio of 1.31, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 0.69 and a beta of 1.07. Kodiak Gas Services, Inc. has a 12 month low of $32.55 and a 12 month high of $77.68. The company's fifty day simple moving average is $51.95 and its 200 day simple moving average is $59.14.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last issued its earnings results on Monday, November 9th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $401.79 million for the quarter, compared to the consensus estimate of $387.50 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The business's revenue was up 24.5% on a year-over-year basis. Equities analysts predict that Kodiak Gas Services, Inc. will post 2.46 EPS for the current fiscal year.

Kodiak Gas Services Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KGS. Zacks Research cut Kodiak Gas Services from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 27th. Barclays reduced their target price on Kodiak Gas Services from $72.00 to $67.00 and set an "overweight" rating for the company in a report on Monday, October 5th. Citigroup decreased their price target on Kodiak Gas Services from $82.00 to $75.00 and set a "buy" rating for the company in a research note on Thursday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Kodiak Gas Services in a report on Wednesday, August 26th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $70.00 price target on shares of Kodiak Gas Services in a report on Tuesday. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $75.92.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Kodiak Gas Services during the second quarter valued at approximately $1,142,139,000. Dimensional Fund Advisors LP grew its position in Kodiak Gas Services by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,105,555 shares of the company's stock worth $181,108,000 after purchasing an additional 135,998 shares during the period. Wellington Management Group LLP grew its position in Kodiak Gas Services by 85.0% in the 2nd quarter. Wellington Management Group LLP now owns 2,432,174 shares of the company's stock worth $182,729,000 after purchasing an additional 1,117,743 shares during the period. Bank of America Corp DE grew its position in Kodiak Gas Services by 16.6% in the 1st quarter. Bank of America Corp DE now owns 1,537,818 shares of the company's stock worth $89,686,000 after purchasing an additional 219,214 shares during the period. Finally, Kayne Anderson Capital Advisors LP bought a new stake in Kodiak Gas Services in the 2nd quarter worth approximately $84,821,000. 24.95% of the stock is owned by hedge funds and other institutional investors.

Kodiak Gas Services Company Profile

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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