Kodiak Gas Services (NYSE:KGS) Posts Earnings Results, Beats Expectations By $0.03 EPS

Kodiak Gas Services (NYSE:KGS - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.03, Briefing.com reports. The firm had revenue of $215.50 million for the quarter, compared to analysts' expectations of $220.55 million. The company's revenue was up 13.4% compared to the same quarter last year. Kodiak Gas Services updated its FY 2024 guidance to EPS.

Kodiak Gas Services Stock Up 1.0 %

Kodiak Gas Services stock traded up $0.28 during midday trading on Thursday, hitting $28.26. 547,602 shares of the company's stock were exchanged, compared to its average volume of 442,494. The company has a quick ratio of 0.73, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The firm has a 50-day moving average of $26.94 and a two-hundred day moving average of $22.66. Kodiak Gas Services has a 12 month low of $15.05 and a 12 month high of $29.00.

Kodiak Gas Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.38%. The ex-dividend date of this dividend is Friday, May 10th.

Analyst Ratings Changes

KGS has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on Kodiak Gas Services from $27.00 to $31.00 and gave the company a "buy" rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. raised their price target on Kodiak Gas Services from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Thursday, March 21st. Finally, Raymond James boosted their price objective on Kodiak Gas Services from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.14.

Insider Activity at Kodiak Gas Services

In other news, Director Margaret C. Montana bought 2,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was bought at an average cost of $25.25 per share, for a total transaction of $50,500.00. Following the completion of the purchase, the director now directly owns 16,375 shares in the company, valued at $413,468.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

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.