Hoak entities trim Natural Gas Services (NGS) holdings to 4.57% stake

Rhea-AI Filing Summary

Natural Gas Services Group Inc. received an amended Schedule 13D from Hoak Public Equities, L.P. and affiliated reporting persons, documenting that they are no longer beneficial owners of more than 5% of the company’s common stock. Based on 12,568,917 shares outstanding as of November 7, 2025, the group reports beneficial ownership of 575,000 shares, equal to approximately 4.57% of the outstanding common stock.

The filing shows a total cost basis of $6,112,250.00 for the 575,000 shares, which were purchased using the working capital of Hoak Public Equities, L.P. The amendment states that, as a result of transactions detailed in an attached schedule, the reporting persons ceased to be beneficial owners of more than 5% of Natural Gas Services Group’s common stock on January 26, 2026, making this a final, exit filing for the group.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 5)

Natural Gas Services Group Inc

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

63886Q109

(CUSIP Number)

Hoak Public Equities, LP
3963 Maple Avenue, Suite 450,
Dallas, TX, 75219
(214) 855-2284

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

01/22/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 63886Q109

1

Name of reporting person

Hoak Public Equities, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 575,000.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 575,000.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

575,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.57 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

*This calculation is based on 12,568,917 shares of Common Stock of the Issuer outstanding as of November 7, 2025, as disclosed on the Issuer's Form 10-Q filed with the SEC on November 10, 2025. This filing constitutes an exit filing as the Reporting Persons have ceased to be the beneficial owners of more than 5 percent of the referenced class of securities.

SCHEDULE 13D

CUSIP No. 63886Q109

1

Name of reporting person

Hoak Fund Management, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 575,000.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 575,000.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

575,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.57 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

*This calculation is based on 12,568,917 shares of Common Stock of the Issuer outstanding as of November 7, 2025, as disclosed on the Issuer's Form 10-Q filed with the SEC on November 10, 2025. This filing constitutes an exit filing as the Reporting Persons have ceased to be the beneficial owners of more than 5 percent of the referenced class of securities.

SCHEDULE 13D

CUSIP No. 63886Q109

1

Name of reporting person

Hoak & Co.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 575,000.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 575,000.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

575,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.57 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

*This calculation is based on 12,568,917 shares of Common Stock of the Issuer outstanding as of November 7, 2025, as disclosed on the Issuer's Form 10-Q filed with the SEC on November 10, 2025. This filing constitutes an exit filing as the Reporting Persons have ceased to be the beneficial owners of more than 5 percent of the referenced class of securities.

SCHEDULE 13D

CUSIP No. 63886Q109

1

Name of reporting person

J. Hale Hoak

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 575,000.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 575,000.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

575,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.57 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

*This calculation is based on 12,568,917 shares of Common Stock of the Issuer outstanding as of November 7, 2025, as disclosed on the Issuer's Form 10-Q filed with the SEC on November 10, 2025. This filing constitutes an exit filing as the Reporting Persons have ceased to be the beneficial owners of more than 5 percent of the referenced class of securities.

SCHEDULE 13D

CUSIP No. 63886Q109

1

Name of reporting person

James M. Hoak

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 575,000.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 575,000.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

575,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.57 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

*This calculation is based on 12,568,917 shares of Common Stock of the Issuer outstanding as of November 7, 2025, as disclosed on the Issuer's Form 10-Q filed with the SEC on November 10, 2025. This filing constitutes an exit filing as the Reporting Persons have ceased to be the beneficial owners of more than 5 percent of the referenced class of securities.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.01 per share
(b)	Name of Issuer: Natural Gas Services Group Inc
(c)	Address of Issuer's Principal Executive Offices: 404 VETERANS AIRPARK LANE, SUITE 300, MIDLAND, TEXAS , 79705.
Item 1 Comment: This Amendment No. 5 to Schedule 13D ("Amendment No. 5") amends and supplements the Schedule 13D originally filed with the Securities and Exchange Commission ("SEC") on November 28, 2022 (the "Original 13D") and Amendment No. 1 to the statement on Schedule 13D filed with the Securities and Exchange Commission on December 9, 2022 ("Amendment No. 1") and Amendment No. 2 to the statement on Schedule 13D filed with the Securities and Exchange Commission on December 30, 2022 ("Amendment No. 2") and Amendment No. 3 to the statement on Schedule 13D filed with the Securities and Exchange Commission on January 11, 2023 ("Amendment No. 3") and Amendment No. 4 to the statement on Schedule 13D filed with the Securities and Exchange Commission on January 7, 2026 ("Amendment No. 4") and together with the Original 13D, Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4, and this Amendment No. 5, the "Schedule 13D"). Unless otherwise indicated, all capitalized terms used but not defined herein shall have the same meaning ascribed to them in the Original 13D. As set forth below, as a result of the transactions described herein, the Reporting Persons have ceased to be the beneficial owner of more than five percent of the Common Stock of the Issuer. The filing of this Amendment No. 5 represents the final amendment to the Original 13D and constitutes an exit filing for the Reporting Persons.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 is hereby amended and restated to read in its entirety as follows: "The cost basis of the 575,000 shares of Common Stock currently reported on this filing is $6,112,250.00. All of the shares of Common Stock beneficially owned by HPE were paid for using working capital of HPE. Hoak Management does not directly hold any Common Stock but may be deemed to beneficially own the Common Stock owned by HPE. The other Reporting Persons do not hold shares of Common Stock directly but may be deemed to beneficially own the Common Stock owned by HPE."
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) is hereby amended and restated to read in its entirety as follows: "As of the date of this Schedule 13D, based upon 12,568,917 shares of Common Stock outstanding (as disclosed on the Issuer's Form 10-Q filed with the SEC November 10, 2025): (a) HPE directly owns an aggregate of 575,000 shares of Common Stock, representing approximately 4.57% of the outstanding Common Stock; (b) Hoak Management, in its capacity as HPE's general partner, may be deemed to beneficially own an aggregate of 575,000 shares of Common Stock, representing approximately 4.57% of the outstanding Common Stock; and (c) each of Hoak and Co. (in its capacity as the general partner of Hoak Management), James M. Hoak (in his capacity as Hoak & Co.'s controlling shareholder), and J. Hale Hoak (in his capacity as Hoak & Co.'s President) may be deemed to beneficially own an aggregate of 575,000 shares of Common Stock, representing approximately 4.57% of the outstanding Common Stock."
(c)	Item 5(c) is hereby amended and restated in its entirety as follows: "Schedule A hereto sets forth all transactions in the Common Stock by any Reporting Person since the most recent Schedule 13D filed with the SEC on January 7, 2026. Except for the transactions set forth on Schedule A, none of the Reporting Persons effected any transaction since the most recent Schedule 13D filed with the SEC on January 7, 2026."
(e)	Item 5(e) is hereby amended and restated to read in its entirety as follows: "As a result of the transactions described herein, on January 26, 2026, the Reporting Persons ceased to be the beneficial owner of more than five percent (5%) of the Common Stock of the Issuer based on the number of shares of Common Stock outstanding as reported by the Issuer on November 10, 2025. The filing of this Amendment represents the final amendment to the Schedule 13D and constitutes an exit filing for the Reporting Persons."
Item 7.	Material to be Filed as Exhibits.
	Exhibit 99.1 Joint Filing Agreement dated January 26, 2026, by and among Hoak Public Equities, L.P., Hoak Fund Management, L.P., Hoak & Co., James M. Hoak and J. Hale Hoak. Exhibit 99.2 Schedule A Transactions - Since Most Recent Schedule 13D Filed January 7, 2026

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Hoak Public Equities, LP

Signature:	/s/ J. Hale Hoak
Name/Title:	J. Hale Hoak, President (Hoak Fund Management, L.P., its general partner) (Hoak & Co., its general partner)
Date:	01/26/2026

Hoak Fund Management, L.P.

Signature:	/s/ J. Hale Hoak
Name/Title:	J. Hale Hoak, President (Hoak & Co., its general partner)
Date:	01/26/2026

Hoak & Co.

Signature:	/s/ J. Hale Hoak
Name/Title:	J. Hale Hoak, President
Date:	01/26/2026

J. Hale Hoak

Signature:	/s/ J. Hale Hoak
Name/Title:	J. Hale Hoak
Date:	01/26/2026

James M. Hoak

Signature:	/s/ James M. Hoak
Name/Title:	James M. Hoak
Date:	01/26/2026

FAQ

What does the latest Schedule 13D/A mean for Natural Gas Services Group (NGS)?

The amendment shows that Hoak Public Equities, L.P. and related reporting persons have reduced their beneficial ownership of Natural Gas Services Group Inc. common stock to below 5%. They now report holding 575,000 shares, or about 4.57% of the company’s outstanding common stock, and this amendment is described as their final, exit filing.

How many Natural Gas Services Group (NGS) shares do the Hoak entities currently report owning?

The reporting persons, including Hoak Public Equities, L.P. and its affiliated entities and individuals, report beneficial ownership of an aggregate of 575,000 shares of Natural Gas Services Group Inc. common stock.

What percentage of Natural Gas Services Group (NGS) does 575,000 shares represent?

The filing states that 575,000 shares of Natural Gas Services Group Inc. common stock represent approximately 4.57% of the outstanding common stock, based on 12,568,917 shares outstanding as of November 7, 2025.

When did the Hoak reporting persons fall below 5% ownership of Natural Gas Services Group (NGS)?

The amendment reports that, as a result of the transactions described, the reporting persons ceased to be beneficial owners of more than five percent of Natural Gas Services Group Inc. common stock on January 26, 2026.

What is the cost basis of the Hoak group’s Natural Gas Services Group (NGS) position?

The filing states that the cost basis of the 575,000 shares of Natural Gas Services Group Inc. common stock currently reported is $6,112,250.00, and that Hoak Public Equities, L.P. paid for these shares using its working capital.

Who are the reporting persons in this Natural Gas Services Group (NGS) Schedule 13D/A?

The reporting persons identified are Hoak Public Equities, L.P., Hoak Fund Management, L.P., Hoak & Co., James M. Hoak, and J. Hale Hoak, each of whom may be deemed to beneficially own the 575,000 shares of Natural Gas Services Group Inc. common stock described in the amendment.