Kodiak Gas Services, Inc. (NYSE:KGS) to Issue Quarterly Dividend of $0.45

Kodiak Gas Services, Inc. (NYSE:KGS - Get Free Report) declared a quarterly dividend on Thursday, July 24th, RTT News reports. Stockholders of record on Monday, August 4th will be paid a dividend of 0.45 per share on Thursday, August 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.66%.

Kodiak Gas Services has a dividend payout ratio of 82.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Research analysts expect Kodiak Gas Services to earn $2.12 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 84.9%.

Kodiak Gas Services Trading Up 0.7%

KGS traded up $0.22 on Thursday, hitting $31.81. The company had a trading volume of 762,821 shares, compared to its average volume of 1,093,913. The company has a market cap of $2.82 billion, a PE ratio of 60.02 and a beta of 1.35. Kodiak Gas Services has a 12-month low of $24.83 and a 12-month high of $50.43. The company has a quick ratio of 0.87, a current ratio of 1.17 and a debt-to-equity ratio of 1.91. The business's fifty day simple moving average is $34.07 and its 200 day simple moving average is $37.72.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. The business had revenue of $329.64 million during the quarter, compared to the consensus estimate of $328.45 million. Kodiak Gas Services had a net margin of 3.93% and a return on equity of 8.49%. The firm's quarterly revenue was up 52.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.39 earnings per share. Equities research analysts expect that Kodiak Gas Services will post 1.12 EPS for the current year.

Hedge Funds Weigh In On Kodiak Gas Services

Several institutional investors and hedge funds have recently modified their holdings of KGS. Royal Bank of Canada boosted its stake in Kodiak Gas Services by 67.5% during the 1st quarter. Royal Bank of Canada now owns 10,235 shares of the company's stock valued at $382,000 after acquiring an additional 4,126 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Kodiak Gas Services by 44.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,814 shares of the company's stock worth $1,000,000 after buying an additional 8,297 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Kodiak Gas Services by 64.9% in the 1st quarter. AQR Capital Management LLC now owns 21,261 shares of the company's stock worth $793,000 after buying an additional 8,369 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Kodiak Gas Services by 102.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,108 shares of the company's stock worth $3,548,000 after buying an additional 48,122 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Kodiak Gas Services by 58.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,983,360 shares of the company's stock worth $73,979,000 after buying an additional 730,180 shares during the last quarter. Hedge funds and other institutional investors own 24.95% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays decreased their price objective on shares of Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Mizuho decreased their price objective on shares of Kodiak Gas Services from $46.00 to $45.00 and set an "outperform" rating for the company in a research report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. reiterated a "buy" rating and issued a $43.00 price objective (up previously from $42.00) on shares of Kodiak Gas Services in a research report on Monday, June 23rd. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Kodiak Gas Services has a consensus rating of "Moderate Buy" and a consensus price target of $40.64.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.