Picton Mahoney Asset Management Grows Position in National Fuel Gas Company $NFG

Key Points

• Picton Mahoney Asset Management boosted its stake in National Fuel Gas by 173.7% in Q3 to 19,947 shares (valued at $1.842M), amid broader institutional accumulation—including a new ~$91.96M position from Norges Bank and large increases from Qube, Jupiter, AQR and State Street—leaving 73.96% of the stock owned by institutions.
• National Fuel Gas beat quarterly estimates with $2.06 EPS (vs. $1.91) and revenue of $651.5M (up 18.6% YoY), set FY2026 guidance of 7.600–8.100 EPS, but analysts remain mixed with a consensus "Hold" rating and a $96.33 target.

Picton Mahoney Asset Management grew its holdings in National Fuel Gas Company (NYSE:NFG - Free Report) by 173.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,947 shares of the oil and gas producer's stock after buying an additional 12,660 shares during the period. Picton Mahoney Asset Management's holdings in National Fuel Gas were worth $1,842,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of NFG. Norges Bank acquired a new position in National Fuel Gas during the second quarter worth about $91,964,000. Qube Research & Technologies Ltd lifted its stake in National Fuel Gas by 642.7% in the 2nd quarter. Qube Research & Technologies Ltd now owns 465,830 shares of the oil and gas producer's stock worth $39,460,000 after purchasing an additional 403,107 shares in the last quarter. Jupiter Asset Management Ltd. boosted its holdings in shares of National Fuel Gas by 99.6% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 465,254 shares of the oil and gas producer's stock worth $42,976,000 after purchasing an additional 232,130 shares during the last quarter. AQR Capital Management LLC grew its position in shares of National Fuel Gas by 17.6% in the second quarter. AQR Capital Management LLC now owns 1,051,086 shares of the oil and gas producer's stock valued at $89,038,000 after purchasing an additional 157,220 shares in the last quarter. Finally, State Street Corp grew its position in shares of National Fuel Gas by 3.4% in the second quarter. State Street Corp now owns 4,035,345 shares of the oil and gas producer's stock valued at $343,962,000 after purchasing an additional 132,855 shares in the last quarter. 73.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NFG has been the topic of a number of analyst reports. Scotiabank set a $101.00 price objective on National Fuel Gas in a research report on Wednesday, January 21st. Zacks Research lowered National Fuel Gas from a "hold" rating to a "strong sell" rating in a report on Wednesday, January 21st. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of National Fuel Gas in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $96.33.

National Fuel Gas Trading Down 0.7%

NYSE NFG opened at $92.92 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.65 and a quick ratio of 0.59. The stock has a market capitalization of $8.83 billion, a P/E ratio of 12.96, a PEG ratio of 1.20 and a beta of 0.57. The firm's 50-day moving average is $84.21 and its two-hundred day moving average is $84.28. National Fuel Gas Company has a 12 month low of $69.93 and a 12 month high of $94.13.

National Fuel Gas (NYSE:NFG - Get Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The oil and gas producer reported $2.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.91 by $0.15. National Fuel Gas had a net margin of 27.65% and a return on equity of 21.45%. The business had revenue of $651.51 million during the quarter, compared to analysts' expectations of $650.70 million. During the same period last year, the business earned $1.66 earnings per share. The business's revenue for the quarter was up 18.6% on a year-over-year basis. National Fuel Gas has set its FY 2026 guidance at 7.600-8.100 EPS. On average, sell-side analysts anticipate that National Fuel Gas Company will post 6.64 earnings per share for the current year.

National Fuel Gas 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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