Hennessy Advisors Inc. Reduces Stock Position in National Fuel Gas (NYSE:NFG)

Hennessy Advisors Inc. lessened its position in shares of National Fuel Gas (NYSE:NFG - Free Report) by 7.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 84,224 shares of the oil and gas producer's stock after selling 6,900 shares during the quarter. Hennessy Advisors Inc. owned 0.09% of National Fuel Gas worth $6,670,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Cranbrook Wealth Management LLC purchased a new stake in National Fuel Gas in the first quarter worth about $40,000. Quarry LP purchased a new stake in National Fuel Gas in the fourth quarter worth about $32,000. Ameriflex Group Inc. bought a new position in shares of National Fuel Gas in the fourth quarter worth about $36,000. Aster Capital Management DIFC Ltd grew its position 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 worth $40,000 after purchasing an additional 453 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its stake in National Fuel Gas by 49.5% during the 4th quarter. V Square Quantitative Management LLC now owns 722 shares of the oil and gas producer's stock valued at $44,000 after purchasing an additional 239 shares during the period. Hedge funds and other institutional investors own 73.96% of the company's stock.

National Fuel Gas Trading Down 0.1%

Shares of National Fuel Gas stock traded down $0.05 on Friday, reaching $84.11. The company had a trading volume of 428,235 shares, compared to its average volume of 559,684. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of -600.74 and a beta of 0.62. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.39 and a quick ratio of 0.33. The firm's 50-day moving average price is $80.13 and its two-hundred day moving average price is $73.00. National Fuel Gas has a 1 year low of $53.03 and a 1 year high of $84.60.

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 EPS for the quarter, topping analysts' consensus estimates of $2.18 by $0.21. National Fuel Gas had a positive return on equity of 15.96% and a negative net margin of 0.53%. The firm had revenue of $729.95 million during the quarter, compared to analysts' expectations of $770.81 million. During the same quarter in the previous year, the business earned $1.79 EPS. The company's quarterly revenue was up 15.9% on a year-over-year basis. As a group, research analysts predict that National Fuel Gas will post 6.64 earnings per share for the current fiscal year.

National Fuel Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.535 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.14 dividend on an annualized basis and a yield of 2.54%. This is a boost from National Fuel Gas's previous quarterly dividend of $0.52. National Fuel Gas's payout ratio is presently 479.07%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on National Fuel Gas from $77.00 to $81.00 and gave the company a "neutral" rating in a research note on Thursday, March 13th. Wall Street Zen raised National Fuel Gas from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Bank of America lifted their target price on National Fuel Gas from $77.00 to $85.00 and gave the company an "underperform" rating in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, National Fuel Gas presently has an average rating of "Moderate Buy" and an average price target 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.