Natural Gas Services Group, Inc. (NYSE:NGS – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $42.87 and last traded at $41.4240, with a volume of 6987 shares. The stock had previously closed at $40.14.
The oil and gas company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.08. Natural Gas Services Group had a return on equity of 7.43% and a net margin of 11.56%.The company had revenue of $48.47 million for the quarter, compared to analyst estimates of $47.09 million.
Natural Gas Services Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th will be issued a dividend of $0.15 per share. This is an increase from Natural Gas Services Group’s previous quarterly dividend of $0.11. The ex-dividend date is Wednesday, May 20th. This represents a $0.60 annualized dividend and a yield of 1.4%. Natural Gas Services Group’s dividend payout ratio is 28.03%.
Wall Street Analysts Forecast Growth
Get Our Latest Analysis on Natural Gas Services Group
Insiders Place Their Bets
In other Natural Gas Services Group news, Director Stephen Charles Taylor sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $37.58, for a total transaction of $2,630,600.00. Following the transaction, the director owned 205,432 shares of the company’s stock, valued at $7,720,134.56. The trade was a 25.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.12% of the company’s stock.
Hedge Funds Weigh In On Natural Gas Services Group
A number of institutional investors have recently added to or reduced their stakes in NGS. Weber Capital Management LLC ADV bought a new stake in Natural Gas Services Group during the fourth quarter worth $16,777,000. Cannell Capital LLC grew its position in shares of Natural Gas Services Group by 279.3% in the 2nd quarter. Cannell Capital LLC now owns 331,616 shares of the oil and gas company’s stock valued at $8,559,000 after acquiring an additional 244,193 shares during the period. LPL Financial LLC acquired a new position in shares of Natural Gas Services Group during the 4th quarter worth about $3,591,000. Millennium Management LLC increased its stake in shares of Natural Gas Services Group by 133.7% during the 3rd quarter. Millennium Management LLC now owns 169,023 shares of the oil and gas company’s stock worth $4,731,000 after purchasing an additional 96,690 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Natural Gas Services Group by 425.0% in the 4th quarter. Invesco Ltd. now owns 105,842 shares of the oil and gas company’s stock valued at $3,562,000 after purchasing an additional 85,682 shares during the period. 65.62% of the stock is currently owned by institutional investors and hedge funds.
Natural Gas Services Group Stock Performance
The company has a market capitalization of $526.77 million, a P/E ratio of 26.62 and a beta of 0.43. The stock’s fifty day moving average price is $38.56 and its 200-day moving average price is $34.90. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.49 and a current ratio of 2.33.
About Natural Gas Services Group
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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