23,260 Shares in National Fuel Gas Company $NFG Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd purchased a new position in National Fuel Gas Company (NYSE:NFG) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 23,260 shares of the oil and gas producer’s stock, valued at approximately $1,862,000. National Fuel Gas makes up about 0.4% of Dynamic Technology Lab Private Ltd’s investment portfolio, making the stock its 28th largest holding.

A number of other hedge funds have also bought and sold shares of the company. Cohen & Steers Inc. acquired a new position in National Fuel Gas in the fourth quarter worth about $1,937,000. Wealthspire Advisors LLC grew its stake in National Fuel Gas by 3.0% in the fourth quarter. Wealthspire Advisors LLC now owns 12,113 shares of the oil and gas producer’s stock worth $970,000 after purchasing an additional 358 shares in the last quarter. Quadrant Capital Group LLC grew its stake in National Fuel Gas by 12.7% in the fourth quarter. Quadrant Capital Group LLC now owns 4,632 shares of the oil and gas producer’s stock worth $371,000 after purchasing an additional 521 shares in the last quarter. Castleark Management LLC grew its stake in National Fuel Gas by 94.8% in the fourth quarter. Castleark Management LLC now owns 4,130 shares of the oil and gas producer’s stock worth $331,000 after purchasing an additional 2,010 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in National Fuel Gas by 7.3% in the fourth quarter. Advisors Asset Management Inc. now owns 61,317 shares of the oil and gas producer’s stock worth $4,909,000 after purchasing an additional 4,153 shares in the last quarter. 73.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NFG shares. Zacks Research upgraded National Fuel Gas from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings downgraded National Fuel Gas from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday. Finally, KeyCorp started coverage on National Fuel Gas in a research note on Tuesday, April 7th. They issued an “overweight” rating and a $110.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, National Fuel Gas has a consensus rating of “Moderate Buy” and an average price target of $106.00.

National Fuel Gas Stock Performance

Shares of NFG stock opened at $77.52 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.62 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average of $84.07 and a two-hundred day moving average of $85.02. National Fuel Gas Company has a 52 week low of $75.85 and a 52 week high of $97.06. The company has a market cap of $7.37 billion, a P/E ratio of 10.49, a PEG ratio of 1.69 and a beta of 0.37.

National Fuel Gas (NYSE:NFG) last issued its earnings results on Thursday, April 30th. The oil and gas producer reported $2.71 EPS for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.14). The company had revenue of $858.37 million during the quarter, compared to analyst estimates of $856.57 million. National Fuel Gas had a net margin of 27.48% and a return on equity of 20.62%. The business’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.39 earnings per share. As a group, analysts anticipate that National Fuel Gas Company will post 7.58 EPS for the current year.

National Fuel Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from National Fuel Gas’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Tuesday, June 30th. National Fuel Gas’s dividend payout ratio is presently 28.96%.

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.