Shares of Kodiak Gas Services, Inc. (NYSE:KGS - Get Free Report) 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.15). The firm had revenue of $309.52 million during the quarter, compared to analyst estimates of $323.82 million. Kodiak Gas Services had a net margin of 2.23% and a return on equity of 7.91%.
Kodiak Gas Services Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.94%. The ex-dividend date was Friday, February 14th. Kodiak Gas Services's dividend payout ratio is presently 277.97%.
Analyst Upgrades and Downgrades
KGS has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on shares of Kodiak Gas Services from $32.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Mizuho boosted their target price on Kodiak Gas Services from $47.00 to $55.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Barclays lifted their price target on Kodiak Gas Services from $32.00 to $44.00 and gave the company an "equal weight" rating in a research note on Monday, January 13th. Raymond James reiterated an "outperform" rating on shares of Kodiak Gas Services in a research report on Friday. Finally, Citigroup boosted their target price on shares of Kodiak Gas Services from $41.00 to $48.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $41.09.
Check Out Our Latest Analysis on Kodiak Gas Services
Insiders Place Their Bets
In other Kodiak Gas Services news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the company's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $47.50, for a total transaction of $177,112,157.50. Following the completion of the sale, the insider now directly owns 34,771,323 shares in the company, valued at $1,651,637,842.50. This represents a 9.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Kodiak Gas Services
Several hedge funds and other institutional investors have recently modified their holdings of KGS. FMR LLC raised its holdings in Kodiak Gas Services by 444.4% in the third quarter. FMR LLC now owns 4,889,804 shares of the company's stock valued at $141,804,000 after buying an additional 3,991,630 shares during the period. Encompass Capital Advisors LLC acquired a new stake in shares of Kodiak Gas Services in the fourth quarter worth $66,122,000. Zimmer Partners LP lifted its holdings in shares of Kodiak Gas Services by 88.1% during the 4th quarter. Zimmer Partners LP now owns 3,347,700 shares of the company's stock valued at $136,687,000 after acquiring an additional 1,567,849 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Kodiak Gas Services during the 3rd quarter valued at $44,558,000. Finally, Vanguard Group Inc. boosted its position in Kodiak Gas Services by 52.3% during the 4th quarter. Vanguard Group Inc. now owns 2,659,015 shares of the company's stock worth $108,568,000 after purchasing an additional 913,104 shares during the period. 24.95% of the stock is owned by institutional investors and hedge funds.
Kodiak Gas Services Trading Down 2.6 %
The firm has a fifty day moving average of $44.31 and a 200-day moving average of $37.33. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.93 and a current ratio of 1.27. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 114.45 and a beta of 1.30.
About Kodiak Gas Services
(
Get Free Report)
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.
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