Natural Gas Services Group (NYSE:NGS) Stock Rating Upgraded by Zacks Research

Natural Gas Services Group (NYSE:NGS) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

NGS has been the topic of several other research reports. Weiss Ratings upgraded Natural Gas Services Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday. Stifel Nicolaus boosted their price target on shares of Natural Gas Services Group from $33.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Strong Buy” and an average price target of $35.50.

Natural Gas Services Group Stock Performance

Shares of Natural Gas Services Group stock traded down $0.04 during trading hours on Wednesday, reaching $29.54. 46,970 shares of the stock traded hands, compared to its average volume of 70,562. Natural Gas Services Group has a one year low of $16.73 and a one year high of $30.73. The firm has a market capitalization of $370.53 million, a price-to-earnings ratio of 20.81 and a beta of 0.59. The company has a quick ratio of 1.23, a current ratio of 1.97 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average price of $27.51 and a 200 day moving average price of $25.52.

Natural Gas Services Group (NYSE:NGS) last released its earnings results on Monday, November 10th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.13. Natural Gas Services Group had a net margin of 10.92% and a return on equity of 7.21%. The company had revenue of $43.40 million during the quarter, compared to analyst estimates of $43.25 million. On average, equities research analysts expect that Natural Gas Services Group will post 1.42 earnings per share for the current fiscal year.

Natural Gas Services Group declared that its board has authorized a share buyback program on Monday, August 11th that authorizes the company to repurchase $6.00 million in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Natural Gas Services Group

In related news, Director Jean K. Holley purchased 3,752 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was purchased at an average price of $26.58 per share, with a total value of $99,728.16. Following the completion of the transaction, the director owned 7,800 shares of the company’s stock, valued at approximately $207,324. This trade represents a 92.69% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen Charles Taylor sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $26.25, for a total value of $525,000.00. Following the completion of the transaction, the director directly owned 413,334 shares in the company, valued at $10,850,017.50. This trade represents a 4.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 71,252 shares of company stock valued at $1,962,198 over the last quarter. 7.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Natural Gas Services Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. bought a new stake in shares of Natural Gas Services Group in the 1st quarter worth $25,000. Steward Partners Investment Advisory LLC boosted its position in Natural Gas Services Group by 105.5% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,424 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 731 shares during the period. New York State Common Retirement Fund boosted its holdings in Natural Gas Services Group by 106.7% during the third quarter. New York State Common Retirement Fund now owns 3,100 shares of the oil and gas company’s stock valued at $87,000 after acquiring an additional 1,600 shares during the period. State of Wyoming grew its holdings in Natural Gas Services Group by 116.0% in the 1st quarter. State of Wyoming now owns 4,427 shares of the oil and gas company’s stock valued at $97,000 after buying an additional 2,377 shares during the last quarter. Finally, AlphaQuest LLC bought a new position in Natural Gas Services Group during the first quarter worth $115,000. 65.62% of the stock is owned by institutional investors.

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.