Kodiak Gas Services (NYSE:KGS) Shares Gap Down After Earnings Miss

Kodiak Gas Services, Inc. (NYSE:KGS) shares gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $40.56, but opened at $36.61. Kodiak Gas Services shares last traded at $37.64, with a volume of 453,306 shares traded.

The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.15). The company had revenue of $309.52 million for the quarter, compared to the consensus estimate of $323.82 million. Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%.

Kodiak Gas Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were given a dividend of $0.41 per share. The ex-dividend date was Friday, February 14th. This represents a $1.64 dividend on an annualized basis and a yield of 4.33%. Kodiak Gas Services’s payout ratio is presently 565.52%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KGS. Citigroup lifted their target price on Kodiak Gas Services from $41.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. lifted their target price on Kodiak Gas Services from $34.00 to $42.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Royal Bank of Canada raised their price objective on Kodiak Gas Services from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Truist Financial upped their price objective on Kodiak Gas Services from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Barclays boosted their price objective on shares of Kodiak Gas Services from $32.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $41.09.

Insider Buying and Selling at Kodiak Gas Services

In other Kodiak Gas Services news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $47.50, for a total transaction of $177,112,157.50. Following the completion of the transaction, the insider now directly owns 34,771,323 shares in the company, valued at $1,651,637,842.50. The trade was a 9.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Kodiak Gas Services

Several large investors have recently bought and sold shares of the company. United Advisor Group LLC acquired a new stake in Kodiak Gas Services during the 3rd quarter worth approximately $341,000. Principal Financial Group Inc. acquired a new position in shares of Kodiak Gas Services in the 3rd quarter worth approximately $610,000. Victory Capital Management Inc. bought a new stake in shares of Kodiak Gas Services in the 3rd quarter valued at $2,974,000. Royce & Associates LP bought a new stake in Kodiak Gas Services during the third quarter valued at $3,770,000. Finally, TSA Wealth Managment LLC grew its stake in Kodiak Gas Services by 30.9% during the third quarter. TSA Wealth Managment LLC now owns 84,550 shares of the company’s stock worth $2,452,000 after purchasing an additional 19,974 shares during the period. 24.95% of the stock is currently owned by institutional investors.

Kodiak Gas Services Stock Performance

The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 131.52 and a beta of 1.30. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 1.86. The company has a 50 day simple moving average of $44.57 and a 200-day simple moving average of $37.14.

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.