Kodiak Gas Services, Inc. (NYSE:KGS) Increases Dividend to $0.41 Per Share

Kodiak Gas Services, Inc. (NYSE:KGS) announced a quarterly dividend on Thursday, August 1st, NASDAQ reports. Shareholders of record on Monday, August 12th will be given a dividend of 0.41 per share on Friday, August 16th. This represents a $1.64 annualized dividend and a dividend yield of 6.10%. The ex-dividend date is Monday, August 12th. This is a boost from Kodiak Gas Services’s previous quarterly dividend of $0.38.

Kodiak Gas Services has a dividend payout ratio of 80.0% indicating that 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 $1.74 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 87.4%.

Kodiak Gas Services Stock Down 3.6 %

Shares of KGS traded down $1.00 during mid-day trading on Friday, hitting $26.88. 1,029,925 shares of the company traded hands, compared to its average volume of 550,124. Kodiak Gas Services has a 1-year low of $16.72 and a 1-year high of $29.75. The company has a quick ratio of 0.76, a current ratio of 1.11 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $2.27 billion, a PE ratio of 30.58 and a beta of 0.92. The business has a 50 day moving average of $27.09 and a 200 day moving average of $26.33.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.03. Kodiak Gas Services had a net margin of 7.15% and a return on equity of 7.33%. The company had revenue of $215.50 million for the quarter, compared to the consensus estimate of $220.55 million. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities research analysts anticipate that Kodiak Gas Services will post 1.81 EPS for the current year.

Analysts Set New Price Targets

KGS has been the topic of a number of analyst reports. The Goldman Sachs Group raised their price objective on shares of Kodiak Gas Services from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Raymond James raised their price objective on shares of Kodiak Gas Services from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Barclays started coverage on Kodiak Gas Services in a research report on Wednesday, July 17th. They set an “equal weight” rating and a $29.00 target price on the stock. Truist Financial increased their target price on Kodiak Gas Services from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Finally, Royal Bank of Canada increased their target price on Kodiak Gas Services from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, May 20th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.33.

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.