BlackRock Inc. Takes $41.48 Million Position in Natural Gas Services Group, Inc. $NGS

Key Points

• BlackRock acquired 961,577 shares of Natural Gas Services Group in the second quarter, valued at approximately $41.48 million and representing a 7.63% stake. Institutional investors collectively own 65.62% of the company.
• Analyst sentiment remains positive, with three Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $50.50.
• Natural Gas Services Group exceeded quarterly expectations with adjusted earnings of $0.47 per share and revenue of $51.4 million. The company also declared a $0.15 quarterly dividend, equivalent to a 1.7% annualized yield.

BlackRock Inc. acquired a new stake in Natural Gas Services Group, Inc. (NYSE:NGS - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 961,577 shares of the oil and gas company's stock, valued at approximately $41,482,000. BlackRock Inc. owned 7.63% of Natural Gas Services Group as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Deutsche Bank AG acquired a new stake in Natural Gas Services Group during the 2nd quarter worth approximately $507,000. Rice Hall James & Associates LLC acquired a new position in shares of Natural Gas Services Group in the second quarter valued at approximately $1,870,000. Crown Advisors Management Inc. bought a new stake in shares of Natural Gas Services Group during the second quarter worth $3,451,000. OneDigital Investment Advisors LLC bought a new stake in shares of Natural Gas Services Group during the second quarter worth $644,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Natural Gas Services Group during the second quarter worth $4,219,000. 65.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NGS has been the subject of a number of research analyst reports. Stifel Nicolaus upped their target price on shares of Natural Gas Services Group from $44.00 to $47.00 and gave the stock a "buy" rating in a research note on Wednesday, May 13th. Raymond James Financial raised their price target on shares of Natural Gas Services Group from $53.00 to $54.00 and gave the stock an "outperform" rating in a research note on Friday, July 10th. Weiss Ratings downgraded shares of Natural Gas Services Group from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Finally, Zacks Research cut shares of Natural Gas Services Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $50.50.

Natural Gas Services Group Stock Up 1.3%

NGS stock opened at $35.14 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 2.01 and a debt-to-equity ratio of 1.11. The business has a 50 day moving average price of $38.22 and a two-hundred day moving average price of $39.03. The company has a market cap of $453.31 million, a price-to-earnings ratio of 21.83 and a beta of 0.42. Natural Gas Services Group, Inc. has a twelve month low of $25.53 and a twelve month high of $44.60.

Natural Gas Services Group (NYSE:NGS - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The oil and gas company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.07. The company had revenue of $51.40 million for the quarter, compared to analysts' expectations of $50.24 million. Natural Gas Services Group had a return on equity of 8.10% and a net margin of 10.81%. Analysts anticipate 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 will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.60 dividend on an annualized basis and a yield of 1.7%. Natural Gas Services Group's dividend payout ratio (DPR) is currently 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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