Bridgeway Capital Management LLC Decreases Stock Holdings in Natural Gas Services Group, Inc. $NGS

Key Points

• Bridgeway Capital Management LLC reduced its position in Natural Gas Services Group by 11.5%, now holding 235,833 shares worth approximately $5.18 million.
• Institutional investors own 65.62% of the stock, indicating strong investor interest, with several hedge funds significantly increasing their stakes in the company during the first quarter.
• The company recently announced a $6.00 million stock buyback program following an earnings report that surpassed analysts' expectations, demonstrating the board’s belief that shares are undervalued.

Bridgeway Capital Management LLC cut its stake in Natural Gas Services Group, Inc. (NYSE:NGS - Free Report) by 11.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 235,833 shares of the oil and gas company's stock after selling 30,675 shares during the period. Bridgeway Capital Management LLC owned about 1.88% of Natural Gas Services Group worth $5,181,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. acquired a new stake in shares of Natural Gas Services Group in the first quarter valued at approximately $25,000. GAMMA Investing LLC raised its position in shares of Natural Gas Services Group by 4,293.1% during the first quarter. GAMMA Investing LLC now owns 1,274 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 1,245 shares during the period. State of Wyoming raised its stake in shares of Natural Gas Services Group by 116.0% in the first 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 period. AlphaQuest LLC bought a new stake in Natural Gas Services Group during the first quarter valued at $115,000. Finally, Wells Fargo & Company MN grew its stake in shares of Natural Gas Services Group by 31.5% during the fourth quarter. Wells Fargo & Company MN now owns 6,022 shares of the oil and gas company's stock valued at $161,000 after buying an additional 1,443 shares during the last quarter. 65.62% of the stock is currently owned by institutional investors.

Natural Gas Services Group Stock Up 0.2%

NGS stock traded up $0.04 during midday trading on Wednesday, hitting $26.44. 6,072 shares of the company's stock were exchanged, compared to its average volume of 73,150. The stock has a market capitalization of $331.56 million, a price-to-earnings ratio of 18.62 and a beta of 0.57. Natural Gas Services Group, Inc. has a 12-month low of $16.73 and a 12-month high of $29.74. The company has a current ratio of 1.97, a quick ratio of 1.23 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average price of $25.06 and a 200-day moving average price of $23.42.

Natural Gas Services Group (NYSE:NGS - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The oil and gas company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.09. Natural Gas Services Group had a return on equity of 7.21% and a net margin of 10.92%.The firm had revenue of $41.38 million during the quarter, compared to analyst estimates of $41.87 million. On average, analysts anticipate that Natural Gas Services Group, Inc. will post 1.42 EPS for the current year.

Natural Gas Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a $0.10 dividend. The ex-dividend date was Friday, August 8th. This represents a $0.40 annualized dividend and a dividend yield of 1.5%. Natural Gas Services Group's payout ratio is currently 28.17%.

Natural Gas Services Group declared that its board has approved a stock buyback program on Monday, August 11th that allows the company to repurchase $6.00 million in shares. This repurchase authorization allows the oil and gas company to purchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NGS has been the subject of a number of research reports. Wall Street Zen raised shares of Natural Gas Services Group from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Stifel Nicolaus lifted their price objective on shares of Natural Gas Services Group from $32.00 to $33.00 and gave the company a "buy" rating in a report on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat, Natural Gas Services Group currently has a consensus rating of "Strong Buy" and a consensus price target of $32.50.

Insider Activity at Natural Gas Services Group

In other news, Director Jean K. Holley purchased 4,048 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was acquired at an average cost of $24.49 per share, with a total value of $99,135.52. Following the acquisition, the director owned 4,048 shares in the company, valued at approximately $99,135.52. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen Charles Taylor sold 20,000 shares of the firm's stock in a transaction on 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 sale, the director directly owned 413,334 shares in the company, valued at approximately $10,850,017.50. This represents a 4.62% decrease in their position. The disclosure for this sale can be found here. Insiders own 7.25% of the company's stock.

Natural Gas Services Group Company Profile

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.