Kodiak Gas Services, Inc. (NYSE:KGS) Plans 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. Shareholders of record on Monday, August 4th will be given a dividend of 0.45 per share on Thursday, August 14th. This represents a $1.80 annualized dividend and a yield of 5.69%. The ex-dividend date of this dividend is Monday, August 4th.

Kodiak Gas Services has a payout ratio of 82.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities 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 Stock Performance

KGS stock traded up $0.37 during mid-day trading on Monday, hitting $31.64. 1,012,019 shares of the company were exchanged, compared to its average volume of 1,070,233. Kodiak Gas Services has a 1-year low of $24.83 and a 1-year high of $50.43. The stock has a market capitalization of $2.81 billion, a PE ratio of 59.70 and a beta of 1.35. The business has a 50 day simple moving average of $33.83 and a 200-day simple moving average of $37.43. The company has a current ratio of 1.17, a quick ratio of 0.87 and a debt-to-equity ratio of 1.91.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share 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 analysts' expectations of $328.45 million. Kodiak Gas Services had a return on equity of 8.49% and a net margin of 3.93%. The firm's revenue for the quarter was up 52.9% compared to the same quarter last year. During the same period last year, the firm posted $0.39 EPS. On average, equities analysts forecast that Kodiak Gas Services will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays dropped their target price on Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. 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 note on Monday, June 23rd. Finally, Mizuho cut 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 report on Tuesday, May 20th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $40.64.

Institutional Investors Weigh In On Kodiak Gas Services

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

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.