Oppenheimer Asset Management Inc. Trims Position in National Fuel Gas Company (NYSE:NFG)

Oppenheimer Asset Management Inc. cut its holdings in shares of National Fuel Gas Company (NYSE:NFG - Free Report) by 13.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 109,375 shares of the oil and gas producer's stock after selling 16,829 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.12% of National Fuel Gas worth $8,661,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of NFG. Allworth Financial LP boosted its position in National Fuel Gas by 46.8% during the fourth quarter. Allworth Financial LP now owns 1,814 shares of the oil and gas producer's stock worth $110,000 after purchasing an additional 578 shares in the last quarter. ING Groep NV purchased a new position in shares of National Fuel Gas during the 4th quarter valued at approximately $1,086,000. Wealthspire Advisors LLC grew its stake in National Fuel Gas by 2.8% in the 4th quarter. Wealthspire Advisors LLC now owns 11,826 shares of the oil and gas producer's stock valued at $718,000 after acquiring an additional 326 shares during the period. Proficio Capital Partners LLC purchased a new stake in National Fuel Gas in the 4th quarter worth $862,000. Finally, QRG Capital Management Inc. increased its holdings in National Fuel Gas by 4.6% in the 4th quarter. QRG Capital Management Inc. now owns 9,300 shares of the oil and gas producer's stock worth $564,000 after acquiring an additional 405 shares in the last quarter. 73.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NFG has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of National Fuel Gas from $77.00 to $81.00 and gave the company a "neutral" rating in a report on Thursday, March 13th. Bank of America raised their price target on shares of National Fuel Gas from $77.00 to $85.00 and gave the company an "underperform" rating in a research note on Friday, May 23rd. Finally, Wall Street Zen lowered National Fuel Gas from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $82.33.

National Fuel Gas Price Performance

Shares of National Fuel Gas stock traded up $0.70 during trading hours on Friday, reaching $85.04. 646,749 shares of the company's stock were exchanged, compared to its average volume of 561,896. The business has a fifty day moving average of $81.69 and a two-hundred day moving average of $74.32. The company has a market capitalization of $7.68 billion, a P/E ratio of 197.76, a price-to-earnings-growth ratio of 0.53 and a beta of 0.62. 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 Company has a 1 year low of $53.88 and a 1 year high of $86.45.

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 for the quarter, topping 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 firm had revenue of $729.95 million for the quarter, compared to analyst estimates of $770.81 million. National Fuel Gas's quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.79 earnings per share. As a group, research analysts predict that National Fuel Gas Company will post 6.64 earnings per share for the current fiscal year.

National Fuel Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Monday, June 30th. This is a boost from National Fuel Gas's previous quarterly dividend of $0.52. National Fuel Gas's dividend payout ratio (DPR) is currently 479.07%.

National Fuel Gas 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.