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Natural Gas Services (NGS)

NGS is a leading provider of gas compression services and equipment to the energy industry. The Company manufactures, fabricates, rents, sells and maintains natural gas compressors and flare systems for oil and natural gas production and plant facilities. NGS is headquartered in Midland, Texas, with fabrication facilities located in Tulsa, Oklahoma and Midland, Texas, and service facilities located in major oil and natural gas producing regions in the U.S.

NGS stock data

Calendar

15 Aug 22
1 Oct 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 9.83M 9.83M 9.83M 9.83M 9.83M 9.83M
Cash burn (monthly) 2.2M 1.36M (no burn) 725.58K (no burn) (no burn)
Cash used (since last report) 6.74M 4.18M n/a 2.22M n/a n/a
Cash remaining 3.08M 5.65M n/a 7.6M n/a n/a
Runway (months of cash) 1.4 4.1 n/a 10.5 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
15 Aug 22 Taylor Stephen Charles Common Stock Grant Acquire A No No 0 60,839 0 572,098
15 Aug 22 Hazlett James R Common Stock Grant Acquire A No No 0 15,503 0 87,549
15 Aug 22 Micah C. Foster Common Stock Grant Acquire A No No 0 16,537 0 21,036
17 Jun 22 Micah C. Foster Common Stock Payment of exercise Dispose F No No 12.83 501 6.43K 4,499
9 Jun 22 Chisholm John Stock Option Common Stock Grant Acquire A No No 17 50,000 850K 50,000
9 Jun 22 Chisholm John Stock Option Common Stock Grant Acquire A No No 16.5 50,000 825K 50,000
9 Jun 22 Chisholm John Stock Option Common Stock Grant Acquire A No No 16 50,000 800K 50,000
9 Jun 22 Chisholm John Stock Option Common Stock Grant Acquire A No No 15 25,000 375K 25,000
23.6% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 51 45 +13.3%
Opened positions 10 5 +100.0%
Closed positions 4 4
Increased positions 8 9 -11.1%
Reduced positions 21 19 +10.5%
13F shares Current Prev Q Change
Total value 125.34M 137.82M -9.1%
Total shares 11.5M 11.8M -2.5%
Total puts 0 0
Total calls 16.8K 25.4K -33.9%
Total put/call ratio
Largest owners Shares Value Change
FMR 1.25M $13.7M -3.4%
Dimensional Fund Advisors 933.04K $10.26M +0.5%
Mill Road Capital III 839.45K $8.45M 0.0%
Franklin Mutual Advisers 768.83K $8.05M 0.0%
BEN Franklin Resources 751.05K $8.26M 0.0%
Mill Road Capital Management 713.79K $7.85M -17.0%
AWM Investment 685.51K $7.54M -2.8%
Pacific Ridge Capital Partners 590.58K $6.5M -8.9%
AMP Ameriprise Financial 575.42K $6.33M -11.4%
Renaissance Technologies 524.44K $5.77M +2.4%
Largest transactions Shares Bought/sold Change
Wellington Management 152.4K +152.4K NEW
Mill Road Capital Management 713.79K -146.15K -17.0%
Oslo Asset Management AS 252.9K -115.42K -31.3%
Brown Advisory 425.71K -97.07K -18.6%
Advisor 94.5K +94.5K NEW
White Pine Capital 80.86K +80.86K NEW
AMP Ameriprise Financial 575.42K -73.8K -11.4%
Foundry Partners 218.22K -71.47K -24.7%
Pacific Ridge Capital Partners 590.58K -57.9K -8.9%
Royce & Associates 420.26K -47.75K -10.2%

Financial report summary

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Risks
  • Decreased oil and natural gas prices and oil and gas industry expenditure levels adversely affect our revenue.
  • The intense competition in our industry could result in reduced profitability and loss of market share for us.
  • The outbreak of COVID-19 and recent oil market developments could adversely impact our financial condition and results of operations.
  • Adverse macroeconomic and business conditions may significantly and negatively affect our results of operations.
  • A reduction in demand for oil could adversely affect our business.
  • Our industry is highly cyclical, and our results of operations may be volatile.
  • Increased regulation or ban of current fracturing techniques could reduce demand for our compressors.
  • We are subject to extensive environmental laws and regulations that could require us to take costly compliance actions that could harm our financial condition.
  • A significant majority of our compressor rentals are for terms of six months or less which, if terminated or not renewed, would adversely impact our revenue and our ability to recover our initial equipment costs.
  • We could be subject to substantial liability claims that could harm our financial condition.
  • A significant amount of our revenues and accounts receivable are related to one customer and a loss of this customer or other current customers could adversely affect our results of operations.
  • Loss of key members of our management could adversely affect our business.
  • The erosion of the financial condition of our customers could adversely affect our business.
  • We might be unable to employ qualified technical personnel, which could hamper our present operations or increase our costs.
  • We may require a substantial amount of capital to expand our compressor rental fleet and grow our business.
  • Our debt levels may negatively impact our current and future financial stability.
  • If we borrow under our credit line and are unable to service our debt, we will likely be forced to take remedial steps that are contrary to our business plan.
  • Our current credit agreement contains covenants that limit our operating and financial flexibility and, if breached, could expose us to severe remedial provisions.
  • If we fail to acquire or successfully integrate additional businesses, our growth may be limited and our results of operations may suffer.
  • Failure to effectively manage our business and growth could adversely affect our operating results and our internal controls.
  • Liability to customers under warranties and indemnification provisions may materially and adversely affect our results of operations.
  • Our income taxes may change.
  • We are exposed to risks related to computer systems failures or cyber security threats
  • The price of our common stock may fluctuate.
  • Future sales of our common stock could adversely affect our stock price.
  • We have a comparatively low number of shares of common stock outstanding and, therefore, our common stock may suffer from limited liquidity and its prices will likely be volatile and its value may be adversely affected.
  • If we issue debt or equity securities, you may lose certain rights and be diluted.
  • If securities analysts downgrade our stock or cease coverage of us, the price of our stock could decline.
  • Provisions contained in our governing documents could hinder a change in control of us.
Management Discussion
  • Three months ended June 30, 2022, compared to the three months ended June 30, 2021.
  • The table below shows our revenues and percentage of total revenues of each of our product lines for the three months ended June 30, 2022 and 2021.
  • Total revenue increased 12.3% to $19.9 million for the three months ended June 30, 2022 compared to $17.7 million for the three months ended June 30, 2021. This increase was primarily a result of higher rental revenue (16.2% increase) during 2022 partially offset by lower sales revenue (18% decrease).

Content analysis

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New words: accommodate, combustion, conformity, convert, deductible, doubtful, electric, heightened, hereunder, motor, profile
Removed: added, expire, slightly, work