Weiss Ratings Reiterates "Hold (C)" Rating for Natural Gas Services Group (NYSE:NGS)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C)" rating for Natural Gas Services Group (NYSE:NGS), indicating a stable outlook for the stock.
• The company's stock recently fell by 1.6%, closing at $27.29, amidst a trading volume significantly lower than its average.
• Natural Gas Services Group's Board has approved a $6.00 million share buyback plan, reflecting confidence in the company's valuation.

Natural Gas Services Group (NYSE:NGS - Get Free Report)'s stock had its "hold (c)" rating restated by stock analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Natural Gas Services Group Stock Down 1.6%

Shares of NGS stock traded down $0.45 on Wednesday, reaching $27.29. 2,424 shares of the company were exchanged, compared to its average volume of 72,158. Natural Gas Services Group has a one year low of $16.73 and a one year high of $29.74. The company has a 50-day moving average of $26.26 and a 200-day moving average of $24.06. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.97 and a quick ratio of 1.23. The company has a market cap of $342.20 million, a price-to-earnings ratio of 19.20 and a beta of 0.59.

Natural Gas Services Group (NYSE:NGS - Get Free Report) last released 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 business had revenue of $41.38 million during the quarter, compared to the consensus estimate of $41.87 million. Analysts anticipate that Natural Gas Services Group will post 1.42 earnings per share for the current year.

Natural Gas Services Group declared that its Board of Directors has approved a share repurchase plan on Monday, August 11th that permits the company to buyback $6.00 million in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, Director Jean K. Holley purchased 3,752 shares of the company's stock in a transaction on Thursday, September 4th. The stock was purchased at an average price of $26.58 per share, with a total value of $99,728.16. Following the completion of the purchase, the director directly owned 7,800 shares in the company, valued at approximately $207,324. This trade represents a 92.69% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen Charles Taylor sold 7,915 shares of the stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $28.50, for a total transaction of $225,577.50. Following the sale, the director owned 375,432 shares of the company's stock, valued at approximately $10,699,812. This represents a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,000 shares of company stock worth $1,635,221. Insiders own 5.08% of the company's stock.

Hedge Funds Weigh In On Natural Gas Services Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC lifted its stake in shares of Natural Gas Services Group by 105.5% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,424 shares of the oil and gas company's stock valued at $37,000 after purchasing an additional 731 shares during the period. White Pine Capital LLC increased its holdings in shares of Natural Gas Services Group by 1.5% during the second quarter. White Pine Capital LLC now owns 52,623 shares of the oil and gas company's stock valued at $1,358,000 after acquiring an additional 798 shares in the last quarter. Inspire Advisors LLC raised its holdings in Natural Gas Services Group by 5.8% in the second quarter. Inspire Advisors LLC now owns 15,930 shares of the oil and gas company's stock worth $411,000 after buying an additional 871 shares during the last quarter. Victory Capital Management Inc. purchased a new position in Natural Gas Services Group in the 1st quarter worth approximately $25,000. Finally, GAMMA Investing LLC lifted its position in Natural Gas Services Group by 4,293.1% in the 1st quarter. GAMMA Investing LLC now owns 1,274 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 1,245 shares in the last quarter. Institutional investors own 65.62% 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.

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