Kodiak Gas Services (NYSE:KGS) Issues Quarterly Earnings Results, Misses Estimates By $0.13 EPS

Kodiak Gas Services (NYSE:KGS) released its earnings results on Wednesday. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.13), Zacks reports. Kodiak Gas Services had a return on equity of 10.37% and a net margin of 5.84%.The business had revenue of $332.87 million for the quarter, compared to analysts’ expectations of $330.95 million. During the same quarter last year, the company posted $0.21 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year.

Kodiak Gas Services Price Performance

NYSE:KGS traded up $1.63 during midday trading on Wednesday, hitting $52.75. 2,237,790 shares of the stock were exchanged, compared to its average volume of 1,615,294. The company has a current ratio of 0.98, a quick ratio of 0.69 and a debt-to-equity ratio of 2.08. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 65.93 and a beta of 1.31. The business has a 50-day moving average price of $41.51 and a two-hundred day moving average price of $37.33. Kodiak Gas Services has a one year low of $29.25 and a one year high of $53.15.

Kodiak Gas Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 13th were issued a $0.49 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.96 annualized dividend and a dividend yield of 3.7%. Kodiak Gas Services’s dividend payout ratio (DPR) is 245.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KGS. Wall Street Zen upgraded Kodiak Gas Services from a “sell” rating to a “hold” rating in a research note on Saturday. Royal Bank Of Canada raised their price target on shares of Kodiak Gas Services from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. Mizuho upped their price target on shares of Kodiak Gas Services from $36.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Stifel Nicolaus set a $48.00 price objective on shares of Kodiak Gas Services in a report on Thursday, November 6th. Finally, Zacks Research downgraded Kodiak Gas Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Hedge Funds Weigh In On Kodiak Gas Services

A number of hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in Kodiak Gas Services by 1,501.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company’s stock valued at $42,000 after purchasing an additional 1,156 shares in the last quarter. State of Wyoming grew its stake in shares of Kodiak Gas Services by 201.7% in the 4th quarter. State of Wyoming now owns 1,219 shares of the company’s stock valued at $46,000 after buying an additional 815 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings 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 worth $54,000 after buying an additional 646 shares during the last quarter. Uniplan Investment Counsel Inc. bought a new position in Kodiak Gas Services during the fourth quarter valued at approximately $108,000. Finally, Cibc World Markets Corp bought a new position in Kodiak Gas Services during the fourth quarter valued at approximately $209,000. 24.95% of the stock is currently owned by institutional investors and hedge funds.

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.