Kodiak Gas Services, Inc. Plans Quarterly Dividend of $0.49 (NYSE:KGS)

Key Points

• $0.49 quarterly dividend declared — shareholders of record May 18 will be paid on May 28, representing an annualized $1.96 and a yield of about 2.8%.
• The dividend currently shows a high payout ratio of 90.3% (covered by earnings now), but analysts forecast $2.81 EPS next year—implying a lower projected payout ratio of roughly 69.8%.
• Kodiak reported a quarterly EPS of $0.40 (missing the $0.53 estimate) while revenue rose 7.6% YoY to $332.9M; the stock traded at $70.58 with a market cap of $6.06B and a P/E of about 81.1.

Kodiak Gas Services, Inc. (NYSE:KGS - Get Free Report) declared a quarterly dividend on Thursday, May 7th. Investors of record on Monday, May 18th will be given a dividend of 0.49 per share on Thursday, May 28th. This represents a c) annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, May 18th.

Kodiak Gas Services has a payout ratio of 90.3% 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 $2.81 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 69.8%.

Kodiak Gas Services Trading Up 0.4%

Kodiak Gas Services stock traded up $0.31 during trading on Friday, hitting $70.58. The company's stock had a trading volume of 144,362 shares, compared to its average volume of 1,421,005. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 81.07, a P/E/G ratio of 1.01 and a beta of 1.01. The stock's fifty day moving average is $60.00 and its 200 day moving average is $46.17. Kodiak Gas Services has a 1-year low of $30.06 and a 1-year high of $71.92. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.57 and a current ratio of 0.84.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.13). The business had revenue of $332.87 million during the quarter, compared to analyst estimates of $330.95 million. Kodiak Gas Services had a net margin of 6.16% and a return on equity of 11.55%. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 earnings per share. As a group, equities research analysts predict that Kodiak Gas Services will post 2.33 EPS for the current year.

Insider Buying and Selling

In other news, insider Pedro R. Buhigas sold 13,942 shares of the company's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $55.73, for a total value of $776,987.66. Following the completion of the sale, the insider owned 42,723 shares of the company's stock, valued at $2,380,952.79. This represents a 24.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Randall J. Hogan bought 6,000 shares of the firm's stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $54.81 per share, with a total value of $328,860.00. Following the transaction, the director directly owned 28,406 shares of the company's stock, valued at approximately $1,556,932.86. This trade represents a 26.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 11,433 shares of company stock valued at $624,360 and have sold 58,673 shares valued at $3,269,110. 0.64% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its holdings in Kodiak Gas Services by 492.8% in the third quarter. Principal Financial Group Inc. now owns 399,041 shares of the company's stock valued at $14,753,000 after purchasing an additional 331,732 shares during the last quarter. Rhumbline Advisers raised its stake in Kodiak Gas Services by 126.9% during the third quarter. Rhumbline Advisers now owns 179,160 shares of the company's stock valued at $6,624,000 after buying an additional 100,194 shares in the last quarter. Public Sector Pension Investment Board acquired a new stake in Kodiak Gas Services during the third quarter valued at approximately $9,491,000. Westend Capital Management LLC acquired a new stake in Kodiak Gas Services during the fourth quarter valued at approximately $13,585,000. Finally, New York State Common Retirement Fund raised its stake in Kodiak Gas Services by 395.1% during the third quarter. New York State Common Retirement Fund now owns 84,838 shares of the company's stock valued at $3,136,000 after buying an additional 67,704 shares in the last quarter. Hedge funds and other institutional investors own 24.95% of the company's stock.

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. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings.

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