Oppenheimer Asset Management Inc. Sells 16,829 Shares of National Fuel Gas Company (NYSE:NFG)

Oppenheimer Asset Management Inc. lowered its holdings in shares of National Fuel Gas Company (NYSE:NFG) by 13.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 109,375 shares of the oil and gas producer’s stock after selling 16,829 shares during the period. Oppenheimer Asset Management Inc.’s holdings in National Fuel Gas were worth $8,661,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Quarry LP bought a new position in shares of National Fuel Gas during the fourth quarter valued at $32,000. Ameriflex Group Inc. bought a new position in shares of National Fuel Gas during the fourth quarter valued at $36,000. Aster Capital Management DIFC Ltd raised its stake in shares of National Fuel Gas by 223.2% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 656 shares of the oil and gas producer’s stock valued at $40,000 after acquiring an additional 453 shares during the last quarter. Cranbrook Wealth Management LLC bought a new position in shares of National Fuel Gas during the first quarter valued at $40,000. Finally, Inlight Wealth Management LLC bought a new position in shares of National Fuel Gas during the first quarter valued at $40,000. Institutional investors own 73.96% of the company’s stock.

National Fuel Gas Price Performance

Shares of NYSE NFG opened at $86.00 on Tuesday. National Fuel Gas Company has a twelve month low of $53.88 and a twelve month high of $86.45. The firm has a fifty day simple moving average of $81.34 and a 200 day simple moving average of $74.02. The company has a market capitalization of $7.77 billion, a PE ratio of 200.01, a P/E/G ratio of 0.55 and a beta of 0.62. The company has a quick ratio of 0.43, a current ratio of 0.47 and a debt-to-equity ratio of 0.86.

National Fuel Gas (NYSE:NFG) last announced its earnings results on Wednesday, April 30th. The oil and gas producer reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.21. The business had revenue of $729.95 million during the quarter, compared to the consensus estimate of $770.81 million. National Fuel Gas had a net margin of 1.91% and a return on equity of 18.55%. National Fuel Gas’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.79 earnings per share. On average, sell-side analysts forecast that National Fuel Gas Company will post 6.64 EPS for the current year.

National Fuel Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 2.49%. This is a boost from National Fuel Gas’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, June 30th. National Fuel Gas’s dividend payout ratio (DPR) is presently 497.67%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NFG. Bank of America raised their price target on shares of National Fuel Gas from $77.00 to $85.00 and gave the company an “underperform” rating in a research note on Friday, May 23rd. Wall Street Zen downgraded shares of National Fuel Gas from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, JPMorgan Chase & Co. lifted their target price on shares of National Fuel Gas from $77.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $82.33.

National Fuel Gas Company Profile

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. The Pipeline and Storage segment provides interstate natural gas transportation services through an integrated gas pipeline system in Pennsylvania and New York; and owns and operates underground natural gas storage fields.