Kodiak Gas Services, Inc. to Issue Quarterly Dividend of $0.38 (NYSE:KGS)

Kodiak Gas Services, Inc. (NYSE:KGS) declared a quarterly dividend on Friday, May 3rd, Wall Street Journal reports. Investors of record on Monday, May 13th will be given a dividend of 0.38 per share on Monday, May 20th. This represents a $1.52 annualized dividend and a yield of 5.57%. The ex-dividend date is Friday, May 10th.

Kodiak Gas Services has a dividend payout ratio of 91.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Kodiak Gas Services to earn $1.72 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 88.4%.

Kodiak Gas Services Price Performance

Shares of KGS stock traded up $0.28 during trading hours on Friday, hitting $27.28. 313,805 shares of the company were exchanged, compared to its average volume of 443,212. The company has a current ratio of 1.10, a quick ratio of 0.73 and a debt-to-equity ratio of 1.57. The firm has a fifty day simple moving average of $26.76 and a 200 day simple moving average of $22.40. Kodiak Gas Services has a 52-week low of $15.05 and a 52-week high of $29.00.

Kodiak Gas Services (NYSE:KGS) last issued its earnings results on Wednesday, March 6th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). The business had revenue of $225.98 million during the quarter, compared to analysts’ expectations of $224.45 million. On average, research analysts expect that Kodiak Gas Services will post 1.82 earnings per share for the current year.

Insider Transactions at Kodiak Gas Services

In other Kodiak Gas Services news, Director Margaret C. Montana bought 2,000 shares of Kodiak Gas Services stock in a transaction that occurred on Tuesday, March 12th. The stock was acquired at an average cost of $25.25 per share, for a total transaction of $50,500.00. Following the completion of the transaction, the director now directly owns 16,375 shares in the company, valued at $413,468.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on KGS shares. Raymond James increased their target price on shares of Kodiak Gas Services from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. lifted their price objective on shares of Kodiak Gas Services from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group raised their price target on Kodiak Gas Services from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.14.

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.