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

Natural Gas Services Group (NYSE:NGS) announced that its board has initiated a share repurchase plan on Monday, August 11th, RTT News reports. The company plans to repurchase $6.00 million in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

Natural Gas Services Group Trading Down 1.4%

NGS opened at $24.99 on Wednesday. Natural Gas Services Group has a one year low of $16.73 and a one year high of $29.74. The stock has a market capitalization of $313.06 million, a PE ratio of 17.60 and a beta of 0.66. The business’s 50 day moving average price is $25.11 and its 200 day moving average price is $23.56. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.33 and a current ratio of 2.10.

Natural Gas Services Group (NYSE:NGS) last released its quarterly earnings data on Monday, August 11th. The oil and gas company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. Natural Gas Services Group had a return on equity of 7.29% and a net margin of 10.92%. The firm had revenue of $41.38 million for the quarter, compared to analysts’ expectations of $41.87 million. As a group, equities research analysts expect that Natural Gas Services Group will post 1.42 EPS for the current year.

Natural Gas Services Group Dividend Announcement

The company also recently declared 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. This represents a $0.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, August 8th. Natural Gas Services Group’s dividend payout ratio is 28.17%.

Insider Buying and Selling

In other Natural Gas Services Group news, Director Stephen Charles Taylor sold 25,000 shares of the company’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 directly owned 433,334 shares in the company, valued at $10,790,016.60. This represents 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 the SEC website. 7.25% of the stock is owned by company insiders.

About Natural Gas Services Group

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.