Bank of America Corp DE Makes New Investment in Natural Gas Services Group, Inc. $NGS

Key Points

• Bank of America initiated a position in Natural Gas Services Group, purchasing 46,336 shares worth approximately $2 million, while institutional investors collectively owned 65.62% of the company.
• Analyst sentiment remains moderately positive, with an average “Moderate Buy” rating and a $50.50 price target, although Weiss Ratings and Zacks Research recently downgraded the stock to “Hold.”
• Natural Gas Services Group exceeded quarterly expectations, reporting $0.47 in earnings per share versus a $0.40 estimate and $51.4 million in revenue; it also maintains a quarterly dividend of $0.15 per share.

Bank of America Corp DE purchased a new position in shares of Natural Gas Services Group, Inc. (NYSE:NGS - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 46,336 shares of the oil and gas company's stock, valued at approximately $1,999,000. Bank of America Corp DE owned approximately 0.36% of Natural Gas Services Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NGS. BlackRock Inc. bought a new position in shares of Natural Gas Services Group in the second quarter valued at about $41,482,000. Weber Capital Management LLC ADV acquired a new stake in shares of Natural Gas Services Group during the second quarter worth $20,694,776. AWM Investment Company Inc. bought a new position in Natural Gas Services Group during the second quarter worth about $8,185,000. Arrowstreet Capital Limited Partnership raised its stake in Natural Gas Services Group by 254.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 97,866 shares of the oil and gas company's stock worth $3,693,000 after purchasing an additional 70,233 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Natural Gas Services Group in the 2nd quarter worth about $4,219,000. Institutional investors own 65.62% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings cut Natural Gas Services Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, September 24th. Zacks Research lowered Natural Gas Services Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 13th. Finally, Raymond James Financial lifted their price objective 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. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $50.50.

Natural Gas Services Group Stock Up 1.1%

Shares of NYSE:NGS opened at $32.34 on Thursday. Natural Gas Services Group, Inc. has a 52-week low of $25.53 and a 52-week high of $44.60. The company has a market capitalization of $417.19 million, a PE ratio of 20.09 and a beta of 0.42. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.12 and a current ratio of 2.01. The company has a fifty day moving average of $35.76 and a 200-day moving average of $38.62.

Natural Gas Services Group (NYSE:NGS - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The oil and gas company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.07. The company had revenue of $51.40 million for the quarter, compared to the consensus estimate of $50.24 million. Natural Gas Services Group had a return on equity of 8.10% and a net margin of 10.81%. On average, equities analysts predict that Natural Gas Services Group, Inc. will post 1.91 EPS for the current fiscal year.

Natural Gas Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 19th. Natural Gas Services Group's dividend payout ratio (DPR) is currently 37.27%.

Natural Gas Services Group Company Profile

Natural Gas Services Group, Inc NYSE: NGS provides natural gas compression equipment and services to oil and natural gas producers, processors and other energy companies. The company designs, fabricates, sells and rents compressors used to maintain the pressure needed to gather, process and transport natural gas, as well as to support production from oil and gas wells.

Its offerings include reciprocating and rotary screw compressors, compressor packages and related equipment. Natural Gas Services Group also provides engineering, field maintenance, service and repair support for compression systems.

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