Natural Gas Services Group (NYSE:NGS) Issues Earnings Results

Natural Gas Services Group (NYSE:NGS) posted its quarterly earnings data on Monday. The oil and gas company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.33 by $0.13, Zacks reports. Natural Gas Services Group had a return on equity of 7.21% and a net margin of 10.92%.The company had revenue of $43.40 million during the quarter, compared to analyst estimates of $43.25 million.

Natural Gas Services Group Trading Up 4.0%

Shares of NYSE NGS traded up $1.18 during trading on Monday, reaching $30.39. The stock had a trading volume of 131,634 shares, compared to its average volume of 70,374. The business’s 50-day moving average price is $27.28 and its 200-day moving average price is $25.32. Natural Gas Services Group has a fifty-two week low of $16.73 and a fifty-two week high of $30.48. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.23 and a current ratio of 1.97. The company has a market cap of $381.09 million, a P/E ratio of 21.40 and a beta of 0.59.

Insider Transactions at Natural Gas Services Group

In other news, Director Stephen Charles Taylor sold 11,152 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $29.06, for a total transaction of $324,077.12. Following the completion of the transaction, the director directly owned 364,180 shares of the company’s stock, valued at approximately $10,583,070.80. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jean K. Holley bought 3,752 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The shares were purchased at an average price of $26.58 per share, for a total transaction of $99,728.16. Following the completion of the purchase, the director directly owned 7,800 shares of the company’s stock, valued at approximately $207,324. This trade represents a 92.69% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 71,252 shares of company stock worth $1,962,198 over the last quarter. Insiders own 5.08% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Man Group plc purchased a new position in Natural Gas Services Group in the 2nd quarter valued at $231,000. Bank of America Corp DE lifted its position in Natural Gas Services Group by 37.0% in the second quarter. Bank of America Corp DE now owns 10,769 shares of the oil and gas company’s stock valued at $278,000 after purchasing an additional 2,909 shares during the period. NewEdge Advisors LLC increased its position in Natural Gas Services Group by 831.2% during the 1st quarter. NewEdge Advisors LLC now owns 12,776 shares of the oil and gas company’s stock worth $281,000 after purchasing an additional 11,404 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Natural Gas Services Group during the 2nd quarter worth approximately $320,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Natural Gas Services Group in the 2nd quarter valued at approximately $362,000. 65.62% of the stock is currently owned by hedge funds and other institutional investors.

Natural Gas Services Group declared that its board has approved a share repurchase program on Monday, August 11th that permits the company to buyback $6.00 million in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 1.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Natural Gas Services Group in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $32.50.

About Natural Gas Services Group

Natural Gas Services Group, Inc provides natural gas compression equipment and services to the energy industry in the United States. It engineers and fabricates, operates, rents, and maintains natural gas compressors for oil and natural gas production and plant facilities. It also designs, fabricates, and assembles compressor units for rental or sale; and designs, manufactures, and sells a line of reciprocating natural gas compressor frames, cylinders, and parts.