Kodiak Gas Services (NYSE:KGS) Sets New 1-Year High Following Earnings Beat

Shares of Kodiak Gas Services, Inc. (NYSE:KGS) hit a new 52-week high during mid-day trading on Monday following a stronger than expected earnings report. The stock traded as high as $75.76 and last traded at $73.6390, with a volume of 558391 shares changing hands. The stock had previously closed at $69.65.

The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. Kodiak Gas Services had a net margin of 6.16% and a return on equity of 11.55%. During the same period in the previous year, the business earned $0.33 EPS. Kodiak Gas Services’s quarterly revenue was up 4.9% compared to the same quarter last year.

Kodiak Gas Services Dividend Announcement

The company also recently disclosed 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 dividend yield of 2.7%. Kodiak Gas Services’s payout ratio is presently 225.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Zacks Research raised shares of Kodiak Gas Services from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Barclays lifted their target price on shares of Kodiak Gas Services from $49.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. Royal Bank Of Canada lifted their target price on shares of Kodiak Gas Services from $45.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, March 19th. The Goldman Sachs Group lifted their target price on shares of Kodiak Gas Services from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Finally, Wall Street Zen raised shares of Kodiak Gas Services from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Kodiak Gas Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.86.

Insider Transactions at Kodiak Gas Services

In other news, EVP Cory Anne Roclawski sold 21,161 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $56.52, for a total value of $1,196,019.72. Following the transaction, the executive vice president owned 42,257 shares in the company, valued at approximately $2,388,365.64. This represents a 33.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Randall J. Hogan bought 6,000 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was purchased at an average price of $54.81 per share, for a total transaction of $328,860.00. Following the purchase, the director owned 28,406 shares of the company’s stock, valued at approximately $1,556,932.86. This represents a 26.78% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 11,433 shares of company stock valued at $624,360 and have sold 58,673 shares valued at $3,269,110. Corporate insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in KGS. Royal Bank of Canada raised its holdings in shares of Kodiak Gas Services by 67.5% during the first quarter. Royal Bank of Canada now owns 10,235 shares of the company’s stock valued at $382,000 after purchasing an additional 4,126 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Kodiak Gas Services by 64.9% during the first quarter. AQR Capital Management LLC now owns 21,261 shares of the company’s stock valued at $793,000 after purchasing an additional 8,369 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Kodiak Gas Services by 44.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,814 shares of the company’s stock valued at $1,000,000 after purchasing an additional 8,297 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Kodiak Gas Services by 58.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,983,360 shares of the company’s stock valued at $73,979,000 after purchasing an additional 730,180 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Kodiak Gas Services by 102.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,108 shares of the company’s stock valued at $3,548,000 after purchasing an additional 48,122 shares during the last quarter. 24.95% of the stock is owned by hedge funds and other institutional investors.

Kodiak Gas Services Price Performance

The company has a quick ratio of 0.57, a current ratio of 0.84 and a debt-to-equity ratio of 2.12. The firm’s fifty day moving average price is $60.00 and its two-hundred day moving average price is $46.17. The stock has a market capitalization of $6.29 billion, a PE ratio of 83.70, a PEG ratio of 0.96 and a beta of 1.01.

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.