National Fuel Gas (NYSE:NFG) Shares Sold by Texas Permanent School Fund

Texas Permanent School Fund reduced its stake in shares of National Fuel Gas (NYSE:NFGGet Rating) by 1.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,830 shares of the oil and gas producer’s stock after selling 1,197 shares during the quarter. Texas Permanent School Fund owned about 0.07% of National Fuel Gas worth $4,454,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc lifted its position in National Fuel Gas by 1,010.1% in the 1st quarter. AdvisorNet Financial Inc now owns 1,099 shares of the oil and gas producer’s stock valued at $76,000 after purchasing an additional 1,000 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in National Fuel Gas by 2.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 83,385 shares of the oil and gas producer’s stock valued at $5,729,000 after purchasing an additional 1,831 shares during the last quarter. Foster & Motley Inc. lifted its position in National Fuel Gas by 43.7% in the 1st quarter. Foster & Motley Inc. now owns 6,732 shares of the oil and gas producer’s stock valued at $462,000 after purchasing an additional 2,046 shares during the last quarter. Balasa Dinverno & Foltz LLC lifted its position in National Fuel Gas by 18.9% in the 1st quarter. Balasa Dinverno & Foltz LLC now owns 3,783 shares of the oil and gas producer’s stock valued at $260,000 after purchasing an additional 601 shares during the last quarter. Finally, State Street Corp lifted its position in National Fuel Gas by 0.9% in the 4th quarter. State Street Corp now owns 6,045,884 shares of the oil and gas producer’s stock valued at $389,278,000 after purchasing an additional 56,298 shares during the last quarter. 73.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on NFG shares. The Goldman Sachs Group dropped their price target on shares of National Fuel Gas from $68.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 5th. Raymond James boosted their price target on shares of National Fuel Gas from $76.00 to $86.00 in a research report on Friday, June 10th. Finally, Scotiabank restated an “assumes” rating on shares of National Fuel Gas in a research report on Monday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $70.67.

National Fuel Gas Stock Performance

Shares of NFG opened at $71.23 on Friday. The firm’s 50 day moving average is $68.60 and its 200-day moving average is $67.10. The stock has a market capitalization of $6.51 billion, a P/E ratio of 13.83, a P/E/G ratio of 0.81 and a beta of 0.68. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.33 and a quick ratio of 0.31. National Fuel Gas has a 12-month low of $50.05 and a 12-month high of $75.97.

National Fuel Gas (NYSE:NFGGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The oil and gas producer reported $1.68 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.68. The company had revenue of $701.72 million for the quarter, compared to analysts’ expectations of $652.28 million. National Fuel Gas had a net margin of 23.67% and a return on equity of 23.85%. The business’s revenue was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 EPS. Equities research analysts anticipate that National Fuel Gas will post 5.79 EPS for the current fiscal year.

National Fuel Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a $0.475 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $1.90 annualized dividend and a dividend yield of 2.67%. This is a boost from National Fuel Gas’s previous quarterly dividend of $0.46. National Fuel Gas’s payout ratio is currently 36.89%.

Insider Transactions at National Fuel Gas

In other news, COO Ronald C. Kraemer sold 1,390 shares of National Fuel Gas stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $70.00, for a total value of $97,300.00. Following the transaction, the chief operating officer now owns 45,995 shares of the company’s stock, valued at approximately $3,219,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.73% of the company’s stock.

About National Fuel Gas

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National Fuel Gas Company operates as a diversified energy company. It operates through four segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. The Exploration and Production segment explores for, develops, and produces natural gas and oil in California and in the Appalachian region of the United States.

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Institutional Ownership by Quarter for National Fuel Gas (NYSE:NFG)

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