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

Shares of Kodiak Gas Services, Inc. (NYSE:KGS) gapped down before the market opened on Thursday following a weaker than expected 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 trading hands.

The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.15). The firm had revenue of $309.52 million for 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 Dividend Announcement

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

Analyst Ratings Changes

KGS has been the subject of a number of recent analyst reports. Citigroup raised their price target 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. Truist Financial increased their price target on shares of Kodiak Gas Services from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. boosted their price objective on Kodiak Gas Services from $34.00 to $42.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Raymond James lifted their target price on Kodiak Gas Services from $35.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Mizuho upped their price target on Kodiak Gas Services from $47.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $41.09.

Insider Activity

In other 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 stock was 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 approximately $1,651,637,842.50. The trade was a 9.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Kodiak Gas Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its position in shares of Kodiak Gas Services by 50.2% during the 4th quarter. FMR LLC now owns 7,342,296 shares of the company’s stock valued at $299,786,000 after acquiring an additional 2,452,492 shares during the last quarter. Zimmer Partners LP raised its position in Kodiak Gas Services by 88.1% during the fourth quarter. Zimmer Partners LP now owns 3,347,700 shares of the company’s stock valued at $136,687,000 after buying an additional 1,567,849 shares during the period. Invesco Ltd. increased its stake in Kodiak Gas Services by 1.1% in the 4th quarter. Invesco Ltd. now owns 2,942,782 shares of the company’s stock valued at $120,154,000 after buying an additional 32,966 shares during the period. Vanguard Group Inc. boosted its position in Kodiak Gas Services by 52.3% during the fourth quarter. Vanguard Group Inc. now owns 2,659,015 shares of the company’s stock valued at $108,568,000 after purchasing an additional 913,104 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Kodiak Gas Services by 14.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,650,183 shares of the company’s stock valued at $67,379,000 after acquiring an additional 202,050 shares in the last quarter. Institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Stock Performance

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 firm has a 50 day moving average price of $44.57 and a 200-day moving average price of $37.14. The company has a market cap of $3.32 billion, a P/E ratio of 131.52 and a beta of 1.30.

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.