Natural Gas Services Group (NYSE:NGS) to Repurchase $6.00 million in Shares

Natural Gas Services Group (NYSE:NGS) declared that its Board of Directors has authorized a share repurchase plan on Monday, August 11th, RTT News reports. The company plans to buyback $6.00 million in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 1.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Natural Gas Services Group Trading Up 2.5%

NGS opened at $25.40 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.10 and a quick ratio of 1.33. Natural Gas Services Group has a 12-month low of $16.73 and a 12-month high of $29.74. The firm’s fifty day moving average price is $25.10 and its 200 day moving average price is $23.55. The stock has a market capitalization of $318.20 million, a PE ratio of 18.81 and a beta of 0.66.

Natural Gas Services Group (NYSE:NGS) last released its earnings results on Monday, August 11th. The oil and gas company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.09. Natural Gas Services Group had a net margin of 10.53% and a return on equity of 6.99%. The firm had revenue of $41.38 million during the quarter, compared to analyst estimates of $41.87 million. As a group, research analysts expect that Natural Gas Services Group will post 1.42 EPS for the current fiscal year.

Natural Gas Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, August 8th. This represents a $0.40 annualized dividend and a yield of 1.6%. Natural Gas Services Group’s payout ratio is presently 29.63%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NGS shares. Stifel Nicolaus lifted their price target on shares of Natural Gas Services Group from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Wall Street Zen raised shares of Natural Gas Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 21st.

Insiders Place Their Bets

In other Natural Gas Services Group news, Director Stephen Charles Taylor sold 25,000 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $24.90, for a total transaction of $622,500.00. Following the completion of the sale, the director owned 433,334 shares in the company, valued at $10,790,016.60. The trade was a 5.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.25% of the stock is currently owned by insiders.

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.