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

Kodiak Gas Services (NYSE:KGS) issued its quarterly earnings results on Wednesday. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03, Briefing.com reports. The business had revenue of $215.50 million for the quarter, compared to analysts’ expectations of $220.55 million. Kodiak Gas Services’s quarterly revenue was up 13.4% on a year-over-year basis. Kodiak Gas Services updated its FY 2024 guidance to EPS.

Kodiak Gas Services Price Performance

Shares of Kodiak Gas Services stock traded up $0.43 during trading on Thursday, hitting $28.41. 259,487 shares of the company’s stock traded hands, compared to its average volume of 439,128. Kodiak Gas Services has a 1 year low of $15.05 and a 1 year high of $29.00. The business has a 50-day simple moving average of $26.94 and a 200-day simple moving average of $22.66. The company has a current ratio of 1.10, a quick ratio of 0.73 and a debt-to-equity ratio of 1.57.

Kodiak Gas Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date of this dividend is Friday, May 10th.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KGS. Raymond James lifted their target price on shares of Kodiak Gas Services from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. The Goldman Sachs Group boosted their target price on Kodiak Gas Services from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. increased their target price on Kodiak Gas Services from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Kodiak Gas Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.14.

Insiders Place Their Bets

In related news, Director Margaret C. Montana bought 2,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was acquired at an average price of $25.25 per share, with a total value of $50,500.00. Following the transaction, the director now owns 16,375 shares in the company, valued at approximately $413,468.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by insiders.

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.