Millennium Management LLC Decreases Stock Position in Natural Gas Services Group, Inc. (NYSE:NGS)

Millennium Management LLC lessened its stake in shares of Natural Gas Services Group, Inc. (NYSE:NGS) by 44.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 68,126 shares of the oil and gas company’s stock after selling 54,615 shares during the period. Millennium Management LLC owned approximately 0.55% of Natural Gas Services Group worth $1,826,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NGS. Proficio Capital Partners LLC purchased a new stake in Natural Gas Services Group during the 4th quarter valued at $5,733,000. First Eagle Investment Management LLC raised its holdings in Natural Gas Services Group by 119.8% during the 4th quarter. First Eagle Investment Management LLC now owns 229,294 shares of the oil and gas company’s stock valued at $6,145,000 after buying an additional 124,978 shares during the period. Crown Advisors Management Inc. purchased a new stake in Natural Gas Services Group during the 4th quarter valued at $2,680,000. EAM Investors LLC purchased a new stake in Natural Gas Services Group in the fourth quarter worth $1,089,000. Finally, Raymond James Financial Inc. purchased a new stake in Natural Gas Services Group in the fourth quarter worth $1,001,000. Hedge funds and other institutional investors own 65.62% of the company’s stock.

Wall Street Analyst Weigh In

NGS has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their target price on Natural Gas Services Group from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Raymond James reiterated a “strong-buy” rating and issued a $32.00 target price (down previously from $33.00) on shares of Natural Gas Services Group in a research note on Wednesday, March 19th. Finally, Wall Street Zen upgraded Natural Gas Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 21st.

Natural Gas Services Group Stock Performance

NGS stock opened at $24.07 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.65. The business’s fifty day simple moving average is $20.94 and its two-hundred day simple moving average is $24.15. Natural Gas Services Group, Inc. has a twelve month low of $16.70 and a twelve month high of $29.74. The firm has a market cap of $301.57 million, a price-to-earnings ratio of 18.80 and a beta of 0.53.

Natural Gas Services Group (NYSE:NGS) last released its earnings results on Monday, May 12th. The oil and gas company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.11. The business had revenue of $41.38 million for the quarter, compared to analyst estimates of $40.52 million. Natural Gas Services Group had a return on equity of 6.60% and a net margin of 10.55%. Analysts predict that Natural Gas Services Group, Inc. will post 1.42 earnings per share for the current year.

Insider Activity

In other news, Director Stephen Charles Taylor sold 25,000 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $24.90, for a total transaction of $622,500.00. Following the transaction, the director now owns 433,334 shares in the company, valued at approximately $10,790,016.60. This trade represents a 5.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.08% of the company’s stock.

Natural Gas Services Group 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.