Kodiak Gas Services, Inc. (NYSE:KGS) Declares Quarterly Dividend of $0.41

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

Kodiak Gas Services has a payout ratio of 80.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 Performance

NYSE KGS traded down $1.00 on Friday, hitting $26.88. The stock had a trading volume of 1,029,925 shares, compared to its average volume of 550,124. Kodiak Gas Services has a one year low of $16.72 and a one 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 stock has a market cap of $2.27 billion, a price-to-earnings ratio of 30.55 and a beta of 0.92. The company’s 50-day moving average is $27.09 and its two-hundred day moving average is $26.33.

Kodiak Gas Services (NYSE:KGS) last posted its earnings results on Wednesday, May 8th. The company reported $0.39 EPS 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 firm had revenue of $215.50 million during the quarter, compared to analysts’ expectations of $220.55 million. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, analysts expect that Kodiak Gas Services will post 1.81 earnings per share for the current year.

Analysts Set New Price Targets

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