Bank of New York Mellon Corp Has $1.80 Million Holdings in Natural Gas Services Group, Inc. (NGS)

Bank of New York Mellon Corp lessened its holdings in shares of Natural Gas Services Group, Inc. (NYSE:NGS) by 82.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,137 shares of the oil and gas company’s stock after selling 348,153 shares during the period. Bank of New York Mellon Corp owned about 0.58% of Natural Gas Services Group worth $1,797,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Wedge Capital Management L L P NC boosted its position in shares of Natural Gas Services Group by 17.0% during the second quarter. Wedge Capital Management L L P NC now owns 61,856 shares of the oil and gas company’s stock valued at $1,460,000 after buying an additional 8,970 shares during the period. Victory Capital Management Inc. boosted its position in shares of Natural Gas Services Group by 14.2% during the second quarter. Victory Capital Management Inc. now owns 60,755 shares of the oil and gas company’s stock valued at $1,434,000 after buying an additional 7,541 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Natural Gas Services Group by 38.2% during the first quarter. Russell Investments Group Ltd. now owns 72,165 shares of the oil and gas company’s stock valued at $1,722,000 after buying an additional 19,965 shares during the period. California Public Employees Retirement System boosted its position in shares of Natural Gas Services Group by 10.8% during the first quarter. California Public Employees Retirement System now owns 32,587 shares of the oil and gas company’s stock valued at $777,000 after buying an additional 3,187 shares during the period. Finally, Boston Partners boosted its position in shares of Natural Gas Services Group by 50.6% during the second quarter. Boston Partners now owns 92,909 shares of the oil and gas company’s stock valued at $2,193,000 after buying an additional 31,200 shares during the period. Institutional investors and hedge funds own 90.89% of the company’s stock.

Shares of NYSE NGS opened at $19.47 on Friday. The company has a market capitalization of $276.13 million, a P/E ratio of 177.00 and a beta of 1.35. Natural Gas Services Group, Inc. has a 52-week low of $18.78 and a 52-week high of $29.35.

Natural Gas Services Group (NYSE:NGS) last announced its quarterly earnings results on Thursday, August 9th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). The firm had revenue of $18.20 million during the quarter, compared to analysts’ expectations of $17.54 million. Natural Gas Services Group had a net margin of 30.05% and a return on equity of 0.53%. As a group, research analysts expect that Natural Gas Services Group, Inc. will post 0.11 EPS for the current fiscal year.

A number of analysts recently issued reports on NGS shares. Zacks Investment Research upgraded Natural Gas Services Group from a “sell” rating to a “buy” rating and set a $27.00 price target for the company in a report on Thursday, July 12th. Seaport Global Securities set a $24.00 price target on Natural Gas Services Group and gave the company a “buy” rating in a report on Friday, August 17th. Argus boosted their price target on Natural Gas Services Group from $106.00 to $115.00 and gave the company a “buy” rating in a report on Monday, June 25th. Finally, ValuEngine upgraded Natural Gas Services Group from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $55.33.

In related news, CEO Stephen Charles Taylor sold 3,320 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $22.41, for a total value of $74,401.20. Following the completion of the sale, the chief executive officer now owns 319,982 shares in the company, valued at $7,170,796.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 21,106 shares of company stock valued at $466,551 in the last quarter. 6.61% of the stock is owned by company insiders.

Natural Gas Services Group Profile

Natural Gas Services Group, Inc provides gas compression equipment and services to the natural gas and oil 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, 2017, it had 2,546 natural gas compressors in its rental fleet totaling 369,961 horsepower.

Further Reading: Understanding Average Daily Trade Volume

Institutional Ownership by Quarter for Natural Gas Services Group (NYSE:NGS)

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