First Eagle Investment Management LLC Increases Stake in Natural Gas Services Group, Inc. $NGS

First Eagle Investment Management LLC grew its holdings in shares of Natural Gas Services Group, Inc. (NYSE:NGS) by 5.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 299,239 shares of the oil and gas company’s stock after purchasing an additional 15,550 shares during the quarter. First Eagle Investment Management LLC owned approximately 2.39% of Natural Gas Services Group worth $7,723,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NGS. Victory Capital Management Inc. purchased a new position in shares of Natural Gas Services Group in the first quarter worth about $25,000. Assenagon Asset Management S.A. boosted its holdings in shares of Natural Gas Services Group by 2.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 57,251 shares of the oil and gas company’s stock worth $1,478,000 after purchasing an additional 1,481 shares during the last quarter. State of Wyoming grew its position in shares of Natural Gas Services Group by 116.0% in the first quarter. State of Wyoming now owns 4,427 shares of the oil and gas company’s stock valued at $97,000 after purchasing an additional 2,377 shares in the last quarter. Empowered Funds LLC lifted its position in Natural Gas Services Group by 5.5% during the first quarter. Empowered Funds LLC now owns 98,479 shares of the oil and gas company’s stock worth $2,164,000 after buying an additional 5,125 shares in the last quarter. Finally, AlphaQuest LLC acquired a new position in Natural Gas Services Group during the first quarter worth $115,000. 65.62% of the stock is currently owned by institutional investors and hedge funds.

Natural Gas Services Group Trading Up 1.3%

Shares of NYSE:NGS opened at $29.25 on Friday. Natural Gas Services Group, Inc. has a 52 week low of $16.73 and a 52 week high of $29.74. The company’s 50 day moving average is $27.28 and its two-hundred day moving average is $25.23. The company has a market cap of $366.79 million, a PE ratio of 20.60 and a beta of 0.59. The company has a current ratio of 1.97, a quick ratio of 1.23 and a debt-to-equity ratio of 0.68.

Natural Gas Services Group (NYSE:NGS) last issued its earnings results on Monday, August 11th. The oil and gas company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. The firm had revenue of $41.38 million during the quarter, compared to the consensus estimate of $41.87 million. Natural Gas Services Group had a net margin of 10.92% and a return on equity of 7.21%. Equities analysts predict that Natural Gas Services Group, Inc. will post 1.42 earnings per share for the current fiscal year.

Natural Gas Services Group announced that its Board of Directors has authorized a stock repurchase program on Monday, August 11th that allows the company to buyback $6.00 million in shares. This buyback authorization allows the oil and gas company to buy up to 1.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Jean K. Holley purchased 4,048 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average cost of $24.49 per share, for a total transaction of $99,135.52. Following the purchase, the director directly owned 4,048 shares of the company’s stock, valued at $99,135.52. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen Charles Taylor sold 20,000 shares of Natural Gas Services Group stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $26.25, for a total value of $525,000.00. Following the sale, the director owned 413,334 shares in the company, valued at $10,850,017.50. This trade represents a 4.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 71,252 shares of company stock worth $1,962,198 over the last ninety days. Insiders own 5.08% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Natural Gas Services Group in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $32.50.

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.