Bank of America Corp DE Sells 57,911 Shares of National Fuel Gas (NYSE:NFG)

Bank of America Corp DE lessened its stake in shares of National Fuel Gas (NYSE:NFG - Free Report) by 11.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 440,311 shares of the oil and gas producer's stock after selling 57,911 shares during the period. Bank of America Corp DE owned 0.49% of National Fuel Gas worth $26,718,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Kentucky Trust Co bought a new position in National Fuel Gas during the 4th quarter worth $25,000. UMB Bank n.a. boosted its holdings in shares of National Fuel Gas by 82.9% in the 4th quarter. UMB Bank n.a. now owns 481 shares of the oil and gas producer's stock valued at $29,000 after purchasing an additional 218 shares in the last quarter. Quarry LP acquired a new stake in shares of National Fuel Gas in the 4th quarter valued at $32,000. S.A. Mason LLC acquired a new stake in shares of National Fuel Gas in the 4th quarter valued at $38,000. Finally, Aster Capital Management DIFC Ltd boosted its holdings in shares of National Fuel Gas by 223.2% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 656 shares of the oil and gas producer's stock valued at $40,000 after purchasing an additional 453 shares in the last quarter. Institutional investors own 73.96% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NFG. JPMorgan Chase & Co. raised their price objective on National Fuel Gas from $77.00 to $81.00 and gave the company a "neutral" rating in a report on Thursday, March 13th. Wall Street Zen raised National Fuel Gas from a "sell" rating to a "hold" rating in a report on Tuesday, April 22nd. Finally, Bank of America raised their price objective on National Fuel Gas from $77.00 to $85.00 and gave the company an "underperform" rating in a report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, National Fuel Gas has an average rating of "Hold" and an average target price of $82.33.

National Fuel Gas Price Performance

Shares of NYSE NFG traded up $1.92 during mid-day trading on Friday, hitting $82.47. 480,329 shares of the stock traded hands, compared to its average volume of 559,490. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.39 and a quick ratio of 0.33. National Fuel Gas has a twelve month low of $53.03 and a twelve month high of $83.35. The company has a market cap of $7.45 billion, a PE ratio of -589.04 and a beta of 0.61. The firm has a 50 day simple moving average of $78.67 and a two-hundred day simple moving average of $70.78.

National Fuel Gas (NYSE:NFG - Get Free Report) last announced its earnings results on Wednesday, April 30th. The oil and gas producer reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.21. The business had revenue of $729.95 million during the quarter, compared to analyst estimates of $770.81 million. National Fuel Gas had a positive return on equity of 15.96% and a negative net margin of 0.53%. National Fuel Gas's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $1.79 EPS. As a group, equities research analysts forecast that National Fuel Gas will post 6.64 EPS for the current fiscal year.

National Fuel Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Monday, March 31st. National Fuel Gas's dividend payout ratio is currently 479.07%.

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. 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.