National Fuel Gas Company $NFG Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its position in National Fuel Gas Company (NYSE:NFG) by 32.1% in the third quarter, HoldingsChannel.com reports. The fund owned 106,519 shares of the oil and gas producer’s stock after selling 50,260 shares during the period. State of Alaska Department of Revenue’s holdings in National Fuel Gas were worth $9,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of National Fuel Gas in the second quarter valued at about $30,000. Golden State Wealth Management LLC boosted its position in National Fuel Gas by 355.1% in the second quarter. Golden State Wealth Management LLC now owns 405 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 316 shares during the last quarter. True Wealth Design LLC increased its holdings in National Fuel Gas by 3,883.3% in the 3rd quarter. True Wealth Design LLC now owns 478 shares of the oil and gas producer’s stock worth $44,000 after buying an additional 466 shares during the period. Assetmark Inc. increased its holdings in National Fuel Gas by 60.1% in the 2nd quarter. Assetmark Inc. now owns 613 shares of the oil and gas producer’s stock worth $52,000 after buying an additional 230 shares during the period. Finally, Cullen Frost Bankers Inc. raised its position in National Fuel Gas by 4,547.4% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 883 shares of the oil and gas producer’s stock worth $75,000 after buying an additional 864 shares during the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on NFG. Weiss Ratings reissued a “buy (b-)” rating on shares of National Fuel Gas in a report on Monday, December 29th. Scotiabank cut shares of National Fuel Gas from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $102.00 to $106.00 in a research note on Thursday, October 9th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $98.00.

National Fuel Gas Stock Up 0.3%

Shares of NYSE:NFG opened at $78.34 on Friday. National Fuel Gas Company has a 52-week low of $62.03 and a 52-week high of $94.13. The stock has a market cap of $7.44 billion, a P/E ratio of 13.79, a PEG ratio of 0.75 and a beta of 0.61. The business has a fifty day moving average of $80.90 and a two-hundred day moving average of $84.49. The company has a quick ratio of 0.35, a current ratio of 0.44 and a debt-to-equity ratio of 0.77.

National Fuel Gas (NYSE:NFG) last announced its quarterly earnings results on Thursday, November 6th. The oil and gas producer reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.14. National Fuel Gas had a net margin of 22.86% and a return on equity of 21.76%. The firm had revenue of $466.28 million for the quarter, compared to analysts’ expectations of $534.57 million. During the same quarter in the previous year, the company posted $0.77 EPS. The company’s revenue was up 22.7% compared to the same quarter last year. On average, research analysts expect that National Fuel Gas Company will post 6.64 earnings per share for the current year.

National Fuel Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 2.7%. The ex-dividend date is Wednesday, December 31st. National Fuel Gas’s payout ratio is presently 37.68%.

National Fuel Gas Company Profile

National Fuel Gas Company (NYSE: NFG) is a diversified energy company engaged primarily in the production, gathering, transmission, distribution and marketing of natural gas. The company operates through four principal segments: Exploration & Production, Pipeline & Storage, Utilities, and Energy Marketing. Its integrated asset base spans upstream development in the Appalachian Basin, regional pipeline networks, underground storage facilities, and regulated utility distribution systems.

In its Exploration & Production segment, National Fuel Gas focuses on developing natural gas reserves in the Marcellus and Utica shales, leveraging modern drilling and completion techniques.