Kodiak Gas Services (NYSE:KGS) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• Kodiak Gas Services reported quarterly EPS of $0.59, topping analyst estimates by $0.05, while revenue rose 4.9% from a year earlier.
• The stock traded near its 52-week high, opening at $69.64 versus a year range of $30.06 to $71.92, and the company also announced a quarterly dividend of $0.49 per share.
• Analyst sentiment remains constructive, with seven Buy ratings and two Hold ratings; the consensus view is Moderate Buy with an average price target of $55.86.

Kodiak Gas Services (NYSE:KGS - Get Free Report) released its quarterly earnings results on Monday. The company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.05, Briefing.com reports. Kodiak Gas Services had a net margin of 6.16% and a return on equity of 11.55%. The company's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 earnings per share.

Kodiak Gas Services Stock Performance

NYSE:KGS opened at $69.64 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.57 and a debt-to-equity ratio of 2.12. Kodiak Gas Services has a 1-year low of $30.06 and a 1-year high of $71.92. The stock has a market cap of $5.98 billion, a P/E ratio of 80.05, a price-to-earnings-growth ratio of 0.96 and a beta of 1.01. The stock's 50-day moving average is $60.00 and its 200-day moving average is $46.17.

Kodiak Gas Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Monday, May 18th will be given a $0.49 dividend. The ex-dividend date is Monday, May 18th. This represents a $1.96 dividend on an annualized basis and a yield of 2.8%. Kodiak Gas Services's dividend payout ratio (DPR) is currently 225.29%.

Analyst Ratings Changes

KGS has been the topic of a number of recent research reports. Zacks Research upgraded Kodiak Gas Services from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 6th. The Goldman Sachs Group raised their price target on Kodiak Gas Services from $60.00 to $69.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Royal Bank Of Canada boosted their price target on Kodiak Gas Services from $45.00 to $64.00 and gave the company an "outperform" rating in a research note on Thursday, March 19th. Wall Street Zen raised shares of Kodiak Gas Services from a "sell" rating to a "hold" rating in a research report on Saturday, February 21st. Finally, Citigroup increased their price objective on shares of Kodiak Gas Services from $53.00 to $63.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $55.86.

Insiders Place Their Bets

In other news, Director Alexander Newsom Darden bought 5,000 shares of the firm's stock in a transaction on Friday, March 13th. The stock was acquired at an average price of $54.75 per share, with a total value of $273,750.00. Following the transaction, the director owned 5,000 shares of the company's stock, valued at $273,750. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Cory Anne Roclawski sold 10,852 shares of Kodiak Gas Services stock in a transaction on Monday, March 16th. The stock was sold at an average price of $54.41, for a total transaction of $590,457.32. Following the transaction, the executive vice president directly owned 31,405 shares of the company's stock, valued at $1,708,746.05. This represents a 25.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders purchased 11,433 shares of company stock valued at $624,360 and sold 58,673 shares valued at $3,269,110. Insiders own 0.64% of the company's stock.

Institutional Trading of Kodiak Gas Services

Institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in shares of Kodiak Gas Services by 0.9% in the 4th quarter. Van ECK Associates Corp now owns 23,640 shares of the company's stock worth $884,000 after buying an additional 209 shares during the last quarter. Captrust Financial Advisors boosted its stake in Kodiak Gas Services by 2.7% in the second quarter. Captrust Financial Advisors now owns 16,925 shares of the company's stock valued at $580,000 after acquiring an additional 448 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Kodiak Gas Services by 80.4% in the third quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company's stock valued at $54,000 after acquiring an additional 646 shares during the last quarter. State of Wyoming increased its stake in shares of Kodiak Gas Services by 201.7% during the 4th quarter. State of Wyoming now owns 1,219 shares of the company's stock worth $46,000 after purchasing an additional 815 shares during the last quarter. Finally, Gotham Asset Management LLC raised its holdings in shares of Kodiak Gas Services by 1.4% in the 4th quarter. Gotham Asset Management LLC now owns 71,843 shares of the company's stock worth $2,687,000 after purchasing an additional 985 shares during the period. 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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