Granite Investment Partners LLC cut its stake in shares of Natural Gas Services Group, Inc. (NYSE:NGS) by 4.6% during the second quarter, Holdings Channel reports. The firm owned 46,958 shares of the oil and gas company’s stock after selling 2,252 shares during the period. Granite Investment Partners LLC’s holdings in Natural Gas Services Group were worth $1,167,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. State Street Corp boosted its stake in Natural Gas Services Group by 6.0% in the fourth quarter. State Street Corp now owns 243,800 shares of the oil and gas company’s stock valued at $7,840,000 after buying an additional 13,779 shares during the period. Teachers Advisors LLC boosted its stake in Natural Gas Services Group by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 30,140 shares of the oil and gas company’s stock valued at $969,000 after buying an additional 225 shares during the period. Highbridge Capital Management LLC purchased a new stake in Natural Gas Services Group during the fourth quarter valued at $265,000. Russell Investments Group Ltd. purchased a new stake in Natural Gas Services Group during the first quarter valued at $623,000. Finally, Punch & Associates Investment Management Inc. boosted its stake in Natural Gas Services Group by 9.6% in the first quarter. Punch & Associates Investment Management Inc. now owns 368,685 shares of the oil and gas company’s stock valued at $9,604,000 after buying an additional 32,300 shares during the period. 88.23% of the stock is owned by institutional investors and hedge funds.

Natural Gas Services Group, Inc. (NYSE:NGS) opened at 23.60 on Friday. Natural Gas Services Group, Inc. has a one year low of $20.65 and a one year high of $34.50. The firm has a market capitalization of $305.31 million, a price-to-earnings ratio of 91.47 and a beta of 1.23. The stock has a 50 day moving average of $24.85 and a 200 day moving average of $26.44.

Natural Gas Services Group (NYSE:NGS) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by $0.04. The firm had revenue of $16.20 million for the quarter, compared to analysts’ expectations of $16.03 million. Natural Gas Services Group had a return on equity of 1.41% and a net margin of 4.85%. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 earnings per share. Analysts forecast that Natural Gas Services Group, Inc. will post $0.19 earnings per share for the current year.

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NGS has been the subject of several analyst reports. Zacks Investment Research cut shares of Natural Gas Services Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. ValuEngine raised shares of Natural Gas Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 31st. Finally, Seaport Global Securities reissued a “buy” rating on shares of Natural Gas Services Group in a research note on Friday, August 4th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. Natural Gas Services Group presently has a consensus rating of “Hold” and a consensus target price of $32.67.

In related news, Director David L. Bradshaw sold 2,540 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $23.60, for a total value of $59,944.00. Following the completion of the sale, the director now directly owns 18,000 shares in the company, valued at $424,800. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Stephen Charles Taylor sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $24.99, for a total transaction of $299,880.00. Following the completion of the sale, the chief executive officer now owns 284,245 shares of the company’s stock, valued at $7,103,282.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,040 shares of company stock valued at $400,114. Insiders own 6.88% of the company’s stock.

About Natural Gas Services Group

Natural Gas Services Group, Inc is a provider of small to medium horsepower compression equipment to the natural gas industry. The Company focuses primarily on the non-conventional natural gas and oil production business in the United States, such as coal bed methane, gas shale, tight gas and oil shales.

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Institutional Ownership by Quarter for Natural Gas Services Group (NYSE:NGS)

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