Truist Financial Corp reduced its stake in National Fuel Gas (NYSE:NFG – Free Report) by 21.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,579 shares of the oil and gas producer’s stock after selling 3,629 shares during the period. Truist Financial Corp’s holdings in National Fuel Gas were worth $697,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of National Fuel Gas by 8.2% during the third quarter. Vanguard Group Inc. now owns 11,771,775 shares of the oil and gas producer’s stock valued at $724,553,000 after purchasing an additional 892,065 shares in the last quarter. BlackRock Inc. increased its stake in shares of National Fuel Gas by 1.6% during the first quarter. BlackRock Inc. now owns 8,679,965 shares of the oil and gas producer’s stock valued at $501,181,000 after purchasing an additional 139,734 shares in the last quarter. State Street Corp increased its stake in shares of National Fuel Gas by 13.6% during the first quarter. State Street Corp now owns 7,658,888 shares of the oil and gas producer’s stock valued at $445,793,000 after purchasing an additional 916,971 shares in the last quarter. Gabelli Funds LLC increased its stake in shares of National Fuel Gas by 0.6% during the first quarter. Gabelli Funds LLC now owns 2,431,500 shares of the oil and gas producer’s stock valued at $140,395,000 after purchasing an additional 13,500 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of National Fuel Gas by 11.8% during the first quarter. Geode Capital Management LLC now owns 1,438,589 shares of the oil and gas producer’s stock valued at $84,601,000 after purchasing an additional 151,915 shares in the last quarter. 73.70% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. Bank of America raised their target price on shares of National Fuel Gas from $59.00 to $61.00 in a research note on Wednesday, September 27th. Scotiabank upgraded shares of National Fuel Gas from a “sector perform” rating to a “sector outperform” rating and set a $68.00 price target on the stock in a report on Wednesday, September 13th. Finally, StockNews.com cut shares of National Fuel Gas from a “hold” rating to a “sell” rating in a report on Friday, November 3rd.
National Fuel Gas Trading Down 2.2 %
NYSE:NFG opened at $50.80 on Thursday. National Fuel Gas has a 52 week low of $48.60 and a 52 week high of $66.84. The company has a quick ratio of 0.41, a current ratio of 0.51 and a debt-to-equity ratio of 0.80. The company’s 50 day moving average price is $52.70 and its 200-day moving average price is $52.47. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 1.17 and a beta of 0.67.
National Fuel Gas (NYSE:NFG – Get Free Report) last issued its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). National Fuel Gas had a return on equity of 16.86% and a net margin of 21.94%. The company had revenue of $368.95 million during the quarter, compared to analysts’ expectations of $475.08 million. During the same quarter in the prior year, the business posted $1.19 EPS. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. On average, equities research analysts forecast that National Fuel Gas will post 5.61 earnings per share for the current fiscal year.
National Fuel Gas Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were paid a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 3.90%. The ex-dividend date was Thursday, September 28th. National Fuel Gas’s dividend payout ratio is presently 38.30%.
About National Fuel Gas
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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