Occidental Asset Management LLC Invests $1 Million in National Fuel Gas Company $NFG

Key Points

• Occidental Asset Management acquired 13,016 National Fuel Gas shares worth approximately $1.005 million in the second quarter. Institutional investors collectively own 73.96% of the company.
• National Fuel Gas reported quarterly EPS of $1.54, exceeding estimates of $1.44, while revenue of $537.5 million fell short of expectations. Analysts maintain a “Moderate Buy” consensus with a $105.50 price target.
• The company raised its quarterly dividend to $0.555 per share, equivalent to an annualized $2.22 dividend and a 2.7% yield.

Occidental Asset Management LLC acquired a new stake in National Fuel Gas Company (NYSE:NFG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 13,016 shares of the oil and gas producer's stock, valued at approximately $1,005,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. SJS Investment Consulting Inc. boosted its position in National Fuel Gas by 458.0% during the first quarter. SJS Investment Consulting Inc. now owns 279 shares of the oil and gas producer's stock valued at $26,000 after purchasing an additional 229 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of National Fuel Gas during the 4th quarter worth approximately $29,000. HM Payson & Co. acquired a new position in shares of National Fuel Gas during the 4th quarter worth approximately $29,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of National Fuel Gas during the 1st quarter worth approximately $38,000. Finally, SHP Wealth Management bought a new stake in shares of National Fuel Gas during the 4th quarter worth approximately $44,000. Institutional investors own 73.96% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Weiss Ratings cut shares of National Fuel Gas from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 21st. Wall Street Zen upgraded shares of National Fuel Gas from a "sell" rating to a "hold" rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $105.50.

National Fuel Gas Trading Down 0.3%

NFG stock opened at $81.71 on Tuesday. National Fuel Gas Company has a one year low of $75.17 and a one year high of $97.06. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 1.82 and a beta of 0.37. The company has a fifty day moving average price of $79.54 and a two-hundred day moving average price of $84.55. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.20 and a quick ratio of 3.07.

National Fuel Gas (NYSE:NFG - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.10. The company had revenue of $537.50 million for the quarter, compared to analyst estimates of $564.33 million. National Fuel Gas had a net margin of 26.97% and a return on equity of 19.04%. The company's revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 earnings per share. Equities analysts anticipate that National Fuel Gas Company will post 7.5 EPS for the current year.

National Fuel Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.555 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.22 annualized dividend and a yield of 2.7%. This is an increase from National Fuel Gas's previous quarterly dividend of $0.54. National Fuel Gas's payout ratio is currently 30.83%.

National Fuel Gas Company Profile

National Fuel Gas Company NYSE: NFG is a diversified energy company engaged primarily in the production, gathering, transmission, distribution and marketing of natural gas. The company operates through four principal segments: Exploration & Production, Pipeline & Storage, Utilities, and Energy Marketing. Its integrated asset base spans upstream development in the Appalachian Basin, regional pipeline networks, underground storage facilities, and regulated utility distribution systems.

In its Exploration & Production segment, National Fuel Gas focuses on developing natural gas reserves in the Marcellus and Utica shales, leveraging modern drilling and completion techniques.

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