Zacks Investment Research Lowers Natural Gas Services Group (NYSE:NGS) to Hold

Zacks Investment Research cut shares of Natural Gas Services Group (NYSE:NGS) from a buy rating to a hold rating in a report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Natural Gas Services Group, Inc. manufactures, fabricates, sells, rents and services natural gas compressors that enhance the production of natural gas wells. The Company also manufactures and sells flare systems and flare ignition systems for plant and production facilities. “

NGS has been the subject of a number of other research reports. ValuEngine upgraded Natural Gas Services Group from a sell rating to a hold rating in a research note on Thursday, August 1st. TheStreet lowered Natural Gas Services Group from a c- rating to a d+ rating in a research note on Friday, November 8th. Imperial Capital lowered their target price on Natural Gas Services Group from $21.00 to $18.00 and set an outperform rating for the company in a research note on Wednesday, August 7th. Finally, Maxim Group reiterated a buy rating and issued a $18.00 target price (down previously from $24.00) on shares of Natural Gas Services Group in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $18.00.

Shares of Natural Gas Services Group stock traded down $0.16 during trading hours on Wednesday, reaching $11.18. The stock had a trading volume of 52,573 shares, compared to its average volume of 94,257. The firm has a 50 day simple moving average of $12.16 and a two-hundred day simple moving average of $14.02. The firm has a market capitalization of $152.75 million, a price-to-earnings ratio of 56.70 and a beta of 1.32. Natural Gas Services Group has a 1 year low of $10.22 and a 1 year high of $21.09.

Natural Gas Services Group (NYSE:NGS) last released its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.06. The company had revenue of $20.85 million for the quarter, compared to the consensus estimate of $19.65 million. Natural Gas Services Group had a positive return on equity of 1.00% and a negative net margin of 15.46%. On average, equities analysts predict that Natural Gas Services Group will post 0.2 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BW Gestao de Investimentos Ltda. grew its stake in Natural Gas Services Group by 54.4% during the 3rd quarter. BW Gestao de Investimentos Ltda. now owns 8,344 shares of the oil and gas company’s stock valued at $107,000 after purchasing an additional 2,940 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Natural Gas Services Group by 40.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 333,802 shares of the oil and gas company’s stock worth $4,276,000 after acquiring an additional 96,580 shares in the last quarter. Rhumbline Advisers grew its position in shares of Natural Gas Services Group by 9.8% in the 3rd quarter. Rhumbline Advisers now owns 19,942 shares of the oil and gas company’s stock worth $255,000 after acquiring an additional 1,777 shares in the last quarter. Legato Capital Management LLC grew its position in shares of Natural Gas Services Group by 16.9% in the 3rd quarter. Legato Capital Management LLC now owns 129,136 shares of the oil and gas company’s stock worth $1,570,000 after acquiring an additional 18,659 shares in the last quarter. Finally, Anderson Hoagland & Co. grew its position in shares of Natural Gas Services Group by 21.8% in the 3rd quarter. Anderson Hoagland & Co. now owns 111,098 shares of the oil and gas company’s stock worth $1,198,000 after acquiring an additional 19,862 shares in the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

About Natural Gas Services Group

Natural Gas Services Group, Inc provides small to medium horsepower compression equipment to the natural gas industry in the United States. The company engages in the rental of small to medium horsepower compression equipment to non-conventional natural gas and oil production businesses. As of December 31, 2018, it had 2,572 natural gas compressors in its rental fleet totaling 398,765 horsepower.

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