Natural Gas Services Group (NYSE:NGS) Announces Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Natural Gas Services Group (NYSE:NGS) released its earnings results on Monday. The oil and gas company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.07, FiscalAI reports. Natural Gas Services Group had a return on equity of 7.99% and a net margin of 12.17%.The business had revenue of $51.40 million for the quarter, compared to analyst estimates of $50.24 million.

Natural Gas Services Group Stock Performance

NGS traded up $0.09 during trading hours on Monday, reaching $37.10. The company’s stock had a trading volume of 88,043 shares, compared to its average volume of 123,945. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.77 and a current ratio of 2.70. The company’s 50-day moving average is $39.97 and its 200-day moving average is $38.91. Natural Gas Services Group has a 52 week low of $23.17 and a 52 week high of $44.60. The firm has a market cap of $467.46 million, a PE ratio of 21.57 and a beta of 0.42.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Stifel Nicolaus boosted their price target on Natural Gas Services Group from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Zacks Research raised Natural Gas Services Group from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Raymond James Financial raised their target price on shares of Natural Gas Services Group from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Natural Gas Services Group in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $50.50.

Hedge Funds Weigh In On Natural Gas Services Group

Several large investors have recently modified their holdings of the stock. NewEdge Advisors LLC boosted its holdings in shares of 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 buying an additional 11,404 shares during the period. Empowered Funds LLC grew its stake in Natural Gas Services Group by 5.5% in the 1st quarter. Empowered Funds LLC now owns 98,479 shares of the oil and gas company’s stock valued at $2,164,000 after buying an additional 5,125 shares during the last quarter. Geode Capital Management LLC raised its holdings in Natural Gas Services Group by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 230,817 shares of the oil and gas company’s stock valued at $5,958,000 after acquiring an additional 3,221 shares during the period. JPMorgan Chase & Co. raised its holdings in Natural Gas Services Group by 44.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 33,994 shares of the oil and gas company’s stock valued at $877,000 after acquiring an additional 10,525 shares during the period. Finally, Rhumbline Advisers lifted its position in Natural Gas Services Group by 52.4% during the second quarter. Rhumbline Advisers now owns 16,770 shares of the oil and gas company’s stock worth $433,000 after acquiring an additional 5,763 shares during the last quarter. 65.62% of the stock is owned by institutional investors.

Natural Gas Services Group Company Profile

Natural Gas Services Group, Inc (NYSE: NGS) is an energy infrastructure company specializing in natural gas distribution and compression services across the United States. The company operates two primary lines of business: the Distribution segment provides natural gas delivery to residential, commercial and industrial customers, while the Compression Services segment rents, sells and services a diversified fleet of compression equipment for midstream and industrial applications.

In its Distribution segment, Natural Gas Services Group engineers, constructs and maintains local pipeline networks, meters and related apparatus to ensure safe and reliable natural gas supply to municipal utilities and private customers.