Natural Gas Services Group Inc. (NGS) Lifted to “Hold” at Zacks Investment Research
Natural Gas Services Group Inc. (NYSE:NGS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
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. “
Other equities analysts have also recently issued reports about the stock. TheStreet cut shares of Natural Gas Services Group from a “buy” rating to a “hold” rating in a report on Monday, August 15th. Lake Street Capital lifted their target price on shares of Natural Gas Services Group from $25.00 to $32.00 and gave the company a “buy” rating in a report on Friday, August 5th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Natural Gas Services Group in a report on Friday, August 19th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $28.75.
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Natural Gas Services Group (NYSE:NGS) opened at 24.05 on Wednesday. The stock has a market capitalization of $309.45 million, a P/E ratio of 32.54 and a beta of 0.79. The firm’s 50-day moving average is $23.97 and its 200 day moving average is $23.44. Natural Gas Services Group has a 12-month low of $15.96 and a 12-month high of $26.74.
Natural Gas Services Group (NYSE:NGS) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by $0.04. Natural Gas Services Group had a return on equity of 4.29% and a net margin of 11.61%. The company had revenue of $17.20 million for the quarter, compared to analyst estimates of $19.23 million. During the same period in the previous year, the business posted $0.28 EPS. The firm’s revenue for the quarter was down 29.0% compared to the same quarter last year. Equities analysts expect that Natural Gas Services Group will post $0.49 EPS for the current year.
A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Natural Gas Services Group by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,065,975 shares of the company’s stock worth $24,411,000 after buying an additional 38,244 shares in the last quarter. Oslo Asset Management ASA boosted its position in Natural Gas Services Group by 3.3% in the second quarter. Oslo Asset Management ASA now owns 633,932 shares of the company’s stock worth $14,517,000 after buying an additional 20,000 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Natural Gas Services Group by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 581,225 shares of the company’s stock worth $13,310,000 after buying an additional 26,292 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in Natural Gas Services Group by 23.1% in the second quarter. Loomis Sayles & Co. L P now owns 455,490 shares of the company’s stock worth $10,431,000 after buying an additional 85,363 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in Natural Gas Services Group by 78.3% in the second quarter. Franklin Resources Inc. now owns 379,800 shares of the company’s stock worth $8,697,000 after buying an additional 166,800 shares in the last quarter. 89.66% of the stock is owned by hedge funds and other institutional investors.
About Natural Gas Services Group
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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