New York State Teachers Retirement System reduced its stake in National Fuel Gas Co. (NYSE:NFG) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,430 shares of the oil and gas producer’s stock after selling 3,000 shares during the period. New York State Teachers Retirement System owned 0.13% of National Fuel Gas worth $5,983,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in NFG. Edge Wealth Management LLC acquired a new position in shares of National Fuel Gas in the first quarter valued at $27,000. Gemmer Asset Management LLC boosted its position in shares of National Fuel Gas by 118.3% in the first quarter. Gemmer Asset Management LLC now owns 548 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 297 shares during the period. Farmers National Bank bought a new stake in shares of National Fuel Gas in the first quarter valued at about $48,000. Advisory Alpha LLC bought a new stake in shares of National Fuel Gas in the first quarter valued at about $50,000. Finally, CNB Bank boosted its position in shares of National Fuel Gas by 332.4% in the first quarter. CNB Bank now owns 921 shares of the oil and gas producer’s stock valued at $56,000 after acquiring an additional 708 shares during the period. Hedge funds and other institutional investors own 73.36% of the company’s stock.
NFG has been the subject of a number of recent research reports. ValuEngine cut shares of National Fuel Gas from a “hold” rating to a “sell” rating in a research report on Thursday, July 18th. TheStreet cut shares of National Fuel Gas from a “b” rating to a “c+” rating in a research report on Friday, July 19th. Finally, Zacks Investment Research cut shares of National Fuel Gas from a “hold” rating to a “strong sell” rating and set a $51.00 target price for the company. in a research report on Monday, July 22nd.
National Fuel Gas (NYSE:NFG) last announced its earnings results on Thursday, August 1st. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.08. The company had revenue of $357.20 million during the quarter, compared to analysts’ expectations of $400.88 million. National Fuel Gas had a net margin of 17.57% and a return on equity of 14.99%. National Fuel Gas’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.73 earnings per share. On average, equities analysts forecast that National Fuel Gas Co. will post 3.34 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Thursday, June 27th. This is a boost from National Fuel Gas’s previous quarterly dividend of $0.43. National Fuel Gas’s payout ratio is presently 52.10%.
National Fuel Gas Company Profile
National Fuel Gas Company operates as a diversified energy company. It operates through five segments: Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing. 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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