Natural Gas Services Group, Inc. (NGS) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Natural Gas Services Group, Inc. (NYSE:NGS) from a sell rating to a hold rating in a report published on Tuesday.
According to Zacks, “Natural Gas Services Group, Inc. manufactures, fabricates, sells, rents and services natural gas compressors that enhance the production of natural gas wells. The Company also manufactures and sells flare systems and flare ignition systems for plant and production facilities. “
A number of other brokerages also recently commented on NGS. ValuEngine upgraded shares of Natural Gas Services Group from a sell rating to a hold rating in a report on Wednesday, May 31st. Seaport Global Securities reiterated a buy rating on shares of Natural Gas Services Group in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $31.25.
Shares of Natural Gas Services Group (NGS) traded up 0.21% during midday trading on Tuesday, reaching $23.45. The company’s stock had a trading volume of 509 shares. The firm has a market capitalization of $303.37 million, a P/E ratio of 90.89 and a beta of 1.23. The stock has a 50-day moving average of $24.48 and a 200 day moving average of $26.04. Natural Gas Services Group has a 12-month low of $20.65 and a 12-month high of $34.50.
Natural Gas Services Group (NYSE:NGS) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.04. Natural Gas Services Group had a net margin of 4.85% and a return on equity of 1.41%. The company had revenue of $16.20 million during the quarter, compared to analyst estimates of $16.03 million. During the same quarter last year, the business earned $0.10 EPS. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. Equities research analysts predict that Natural Gas Services Group will post $0.18 EPS for the current fiscal year.
In related news, CEO Stephen Charles Taylor sold 12,000 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $24.99, for a total value of $299,880.00. Following the completion of the transaction, the chief executive officer now owns 284,245 shares in the company, valued at approximately $7,103,282.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William F. Hughes, Jr. sold 1,500 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $26.86, for a total transaction of $40,290.00. Following the completion of the transaction, the director now owns 37,563 shares of the company’s stock, valued at approximately $1,008,942.18. The disclosure for this sale can be found here. Insiders have sold 16,040 shares of company stock valued at $400,114 in the last 90 days. Insiders own 6.88% of the company’s stock.
Large investors have recently modified their holdings of the stock. Wells Fargo & Company MN increased its stake in shares of Natural Gas Services Group by 18.2% in the first quarter. Wells Fargo & Company MN now owns 28,665 shares of the oil and gas company’s stock worth $747,000 after buying an additional 4,420 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Natural Gas Services Group during the first quarter worth about $623,000. Renaissance Technologies LLC raised its stake in Natural Gas Services Group by 18.9% in the first quarter. Renaissance Technologies LLC now owns 314,400 shares of the oil and gas company’s stock worth $8,190,000 after buying an additional 49,900 shares during the period. Pacific Ridge Capital Partners LLC raised its stake in Natural Gas Services Group by 20.3% in the first quarter. Pacific Ridge Capital Partners LLC now owns 104,568 shares of the oil and gas company’s stock worth $2,724,000 after buying an additional 17,616 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Natural Gas Services Group by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 567,437 shares of the oil and gas company’s stock worth $14,781,000 after buying an additional 14,359 shares during the period. 82.89% of the stock is owned by institutional investors.
Natural Gas Services Group Company Profile
Natural Gas Services Group, Inc is a provider of small to medium horsepower compression equipment to the natural gas industry. The Company focuses primarily on the non-conventional natural gas and oil production business in the United States, such as coal bed methane, gas shale, tight gas and oil shales.
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