Bank of New York Mellon Corp Acquires Shares of 97,801 Natural Gas Services Group, Inc. $NGS

Key Points

• Bank of New York Mellon acquired 97,801 shares of Natural Gas Services Group worth approximately $4.2 million, while institutional investors collectively owned 65.62% of the company.
• Analysts maintain a generally positive outlook, with three Buy ratings and one Hold rating, an average price target of $50.50, and Raymond James raising its target to $54.
• Natural Gas Services Group beat quarterly earnings expectations, reporting $0.47 in EPS versus the $0.40 consensus and $51.4 million in revenue; it also pays a $0.15 quarterly dividend, yielding about 1.6% annually.

Bank of New York Mellon Corp bought a new position in shares of Natural Gas Services Group, Inc. (NYSE:NGS - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 97,801 shares of the oil and gas company's stock, valued at approximately $4,219,000. Bank of New York Mellon Corp owned about 0.78% of Natural Gas Services Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NGS. NewEdge Advisors LLC increased its stake in Natural Gas Services Group by 831.2% in the first quarter. NewEdge Advisors LLC now owns 12,776 shares of the oil and gas company's stock valued at $281,000 after purchasing an additional 11,404 shares during the period. Empowered Funds LLC boosted its stake in shares of Natural Gas Services Group by 5.5% during the first quarter. Empowered Funds LLC now owns 98,479 shares of the oil and gas company's stock worth $2,164,000 after buying an additional 5,125 shares during the period. Geode Capital Management LLC grew its holdings in shares of Natural Gas Services Group by 1.4% during the second quarter. Geode Capital Management LLC now owns 230,817 shares of the oil and gas company's stock worth $5,958,000 after buying an additional 3,221 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Natural Gas Services Group by 44.8% during the second quarter. JPMorgan Chase & Co. now owns 33,994 shares of the oil and gas company's stock worth $877,000 after buying an additional 10,525 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Natural Gas Services Group by 52.4% in the 2nd quarter. Rhumbline Advisers now owns 16,770 shares of the oil and gas company's stock valued at $433,000 after acquiring an additional 5,763 shares during the period. Hedge funds and other institutional investors own 65.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Raymond James Financial lifted their target price on 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. Zacks Research cut Natural Gas Services Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. Weiss Ratings downgraded Natural Gas Services Group from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Finally, Stifel Nicolaus lifted their price objective on shares of Natural Gas Services Group from $44.00 to $47.00 and gave the company a "buy" rating in a research report on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Natural Gas Services Group presently has an average rating of "Moderate Buy" and an average price target of $50.50.

Natural Gas Services Group Stock Up 2.0%

Natural Gas Services Group stock opened at $36.38 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.01 and a quick ratio of 1.12. Natural Gas Services Group, Inc. has a 1-year low of $25.53 and a 1-year high of $44.60. The company has a market cap of $469.30 million, a PE ratio of 22.60 and a beta of 0.42. The stock's 50 day moving average price is $37.58 and its 200 day moving average price is $38.98.

Natural Gas Services Group (NYSE:NGS - Get Free Report) last issued its earnings results on Monday, August 10th. The oil and gas company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.40 by $0.07. Natural Gas Services Group had a net margin of 10.81% and a return on equity of 8.10%. The company had revenue of $51.40 million for the quarter, compared to analyst estimates of $50.24 million. On average, sell-side 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 company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.60 annualized dividend and a dividend yield of 1.6%. Natural Gas Services Group's payout ratio is 37.27%.

Natural Gas Services Group 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.

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