Millburn Ridgefield LLC DE Reduces Stock Position in National Fuel Gas (NYSE:NFG)

Millburn Ridgefield LLC DE lessened its holdings in shares of National Fuel Gas (NYSE:NFG - Free Report) by 53.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,807 shares of the oil and gas producer's stock after selling 3,176 shares during the quarter. Millburn Ridgefield LLC DE's holdings in National Fuel Gas were worth $222,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in National Fuel Gas in the fourth quarter valued at $67,393,000. Northern Trust Corp boosted its holdings in shares of National Fuel Gas by 37.9% in the 4th quarter. Northern Trust Corp now owns 1,019,072 shares of the oil and gas producer's stock worth $61,837,000 after purchasing an additional 279,857 shares in the last quarter. Brandywine Global Investment Management LLC bought a new position in shares of National Fuel Gas during the 4th quarter valued at about $16,906,000. Raymond James Financial Inc. bought a new position in shares of National Fuel Gas during the 4th quarter valued at about $9,067,000. Finally, GAMMA Investing LLC raised its holdings in shares of National Fuel Gas by 13,154.2% during the 1st quarter. GAMMA Investing LLC now owns 131,614 shares of the oil and gas producer's stock valued at $10,423,000 after buying an additional 130,621 shares in the last quarter. Hedge funds and other institutional investors own 73.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NFG. Bank of America boosted their target price on National Fuel Gas from $77.00 to $85.00 and gave the stock an "underperform" rating in a research report on Friday, May 23rd. Wall Street Zen upgraded shares of National Fuel Gas from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of National Fuel Gas from $77.00 to $81.00 and gave the company a "neutral" rating in a research note on Thursday, March 13th. One 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $82.33.

National Fuel Gas Trading Up 2.5%

Shares of NFG traded up $2.07 during trading hours on Thursday, hitting $84.09. The company had a trading volume of 612,727 shares, compared to its average volume of 559,043. National Fuel Gas has a 52-week low of $53.03 and a 52-week high of $84.60. The company has a quick ratio of 0.33, a current ratio of 0.39 and a debt-to-equity ratio of 0.80. The stock's 50 day moving average price is $79.91 and its 200 day moving average price is $72.79. The firm has a market cap of $7.60 billion, a P/E ratio of -600.60 and a beta of 0.62.

National Fuel Gas (NYSE:NFG - Get Free Report) last posted its quarterly 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. National Fuel Gas had a positive return on equity of 15.96% and a negative net margin of 0.53%. The business had revenue of $729.95 million for the quarter, compared to analyst estimates of $770.81 million. During the same period last year, the company earned $1.79 EPS. National Fuel Gas's revenue for the quarter was up 15.9% compared to the same quarter last year. On average, research analysts predict that National Fuel Gas will post 6.64 EPS for the current year.

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.