National Fuel Gas (NYSE:NFG) Given New $85.00 Price Target at Bank of America

National Fuel Gas (NYSE:NFG - Get Free Report) had its price target lifted by equities research analysts at Bank of America from $77.00 to $85.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "underperform" rating on the oil and gas producer's stock. Bank of America's price objective points to a potential upside of 3.37% from the company's current price.

NFG has been the topic of a number of other reports. Wall Street Zen upgraded National Fuel Gas from a "sell" rating to a "hold" rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their price target on shares of National Fuel Gas from $77.00 to $81.00 and gave the stock a "neutral" rating in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $82.33.

National Fuel Gas Stock Up 2.1%

NYSE NFG traded up $1.68 during mid-day trading on Friday, reaching $82.23. 113,722 shares of the company's stock traded hands, compared to its average volume of 558,291. National Fuel Gas has a 1-year low of $53.03 and a 1-year high of $83.35. The company has a current ratio of 0.39, a quick ratio of 0.33 and a debt-to-equity ratio of 0.80. The company has a market cap of $7.43 billion, a price-to-earnings ratio of -587.30 and a beta of 0.61. The company has a fifty day simple moving average of $78.58 and a 200-day simple moving average of $70.63.

National Fuel Gas (NYSE:NFG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $2.39 EPS for the quarter, topping the consensus estimate of $2.18 by $0.21. The business had revenue of $729.95 million for the quarter, compared to analysts' expectations of $770.81 million. National Fuel Gas had a negative net margin of 0.53% and a positive return on equity of 15.96%. The company's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.79 earnings per share. As a group, equities research analysts expect that National Fuel Gas will post 6.64 EPS for the current year.

Institutional Trading of National Fuel Gas

Several hedge funds have recently added to or reduced their stakes in NFG. Assetmark Inc. grew its stake in shares of National Fuel Gas by 9,475.0% in the first quarter. Assetmark Inc. now owns 383 shares of the oil and gas producer's stock worth $30,000 after purchasing an additional 379 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in National Fuel Gas by 316.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 400 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 304 shares during the period. Kentucky Trust Co bought a new position in National Fuel Gas in the 4th quarter valued at about $25,000. UMB Bank n.a. grew its position in National Fuel Gas by 82.9% in the 4th quarter. UMB Bank n.a. now owns 481 shares of the oil and gas producer's stock valued at $29,000 after buying an additional 218 shares in the last quarter. Finally, Inlight Wealth Management LLC acquired a new position in National Fuel Gas during the 1st quarter valued at about $40,000. Institutional investors own 73.96% of the company's stock.

About National Fuel Gas

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.

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