Poplar Forest Capital LLC Has $30.22 Million Position in National Fuel Gas Company (NYSE:NFG)

Poplar Forest Capital LLC trimmed its position in shares of National Fuel Gas Company (NYSE:NFG - Free Report) by 11.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 381,605 shares of the oil and gas producer's stock after selling 47,060 shares during the period. National Fuel Gas accounts for approximately 5.4% of Poplar Forest Capital LLC's investment portfolio, making the stock its 3rd biggest position. Poplar Forest Capital LLC owned approximately 0.42% of National Fuel Gas worth $30,219,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Schroder Investment Management Group boosted its position in National Fuel Gas by 4.0% during the fourth quarter. Schroder Investment Management Group now owns 9,122 shares of the oil and gas producer's stock worth $551,000 after purchasing an additional 350 shares during the period. OneDigital Investment Advisors LLC bought a new position in National Fuel Gas during the first quarter worth $203,000. Cambridge Investment Research Advisors Inc. boosted its position in National Fuel Gas by 5.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,184 shares of the oil and gas producer's stock worth $1,044,000 after purchasing an additional 712 shares during the period. KBC Group NV boosted its position in National Fuel Gas by 18.5% during the first quarter. KBC Group NV now owns 3,908 shares of the oil and gas producer's stock worth $309,000 after purchasing an additional 609 shares during the period. Finally, Greenleaf Trust bought a new position in National Fuel Gas during the first quarter worth $259,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.

National Fuel Gas Stock Performance

Shares of National Fuel Gas stock traded down $0.38 during trading on Thursday, reaching $87.20. The company's stock had a trading volume of 421,402 shares, compared to its average volume of 643,419. The business's 50-day moving average price is $83.90 and its 200-day moving average price is $77.56. The firm has a market cap of $7.88 billion, a PE ratio of 202.80, a P/E/G ratio of 0.54 and a beta of 0.62. National Fuel Gas Company has a 52 week low of $56.29 and a 52 week high of $89.82. 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 - 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, beating analysts' consensus estimates of $2.18 by $0.21. National Fuel Gas had a net margin of 1.91% and a return on equity of 18.55%. The company 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 posted $1.79 earnings per share. National Fuel Gas's quarterly revenue was up 15.9% on a year-over-year basis. Equities analysts forecast that National Fuel Gas Company will post 6.64 earnings per share for the current year.

National Fuel Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.535 per share. This is a boost from National Fuel Gas's previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.14 annualized dividend and a yield of 2.45%. National Fuel Gas's dividend payout ratio is currently 497.67%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wall Street Zen cut shares of National Fuel Gas from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Scotiabank boosted their target price on shares of National Fuel Gas from $88.00 to $98.00 and gave the company a "sector outperform" rating in a research report on Friday, July 11th. Finally, Bank of America raised shares of National Fuel Gas from an "underperform" rating to a "buy" rating and boosted their target price for the company from $85.00 to $107.00 in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, National Fuel Gas currently has an average rating of "Moderate Buy" and an average target price of $95.33.

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.