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

Kodiak Gas Services (NYSE:KGS) issued 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 during the quarter, compared to analyst estimates of $220.55 million. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. Kodiak Gas Services updated its FY 2024 guidance to EPS.

Kodiak Gas Services Trading Up 0.6 %

Shares of NYSE:KGS traded up $0.16 during trading on Friday, reaching $28.04. The stock had a trading volume of 114,705 shares, compared to its average volume of 438,861. Kodiak Gas Services has a 52 week low of $15.05 and a 52 week high of $29.00. The company has a current ratio of 1.10, a quick ratio of 0.73 and a debt-to-equity ratio of 1.57. The firm’s fifty day moving average is $27.00 and its 200 day moving average is $22.70.

Kodiak Gas Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.52 annualized dividend and a yield of 5.42%.

Wall Street Analyst Weigh In

KGS has been the topic of several analyst reports. The Goldman Sachs Group increased 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. Raymond James increased their price objective on shares of Kodiak Gas Services from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Kodiak Gas Services from $27.00 to $28.00 and gave the company a “neutral” rating in a research report 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’s stock. According to MarketBeat, Kodiak Gas Services has a consensus rating of “Moderate Buy” and an average target price of $26.14.

Insider Buying and Selling

In other news, Director Margaret C. Montana purchased 2,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were acquired at an average price of $25.25 per share, with a total value of $50,500.00. Following the completion of the transaction, the director now owns 16,375 shares of the company’s stock, valued at approximately $413,468.75. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.