Keene & Associates Inc. Makes New Investment in National Fuel Gas (NYSE:NFG)

Keene & Associates Inc. purchased a new stake in shares of National Fuel Gas (NYSE:NFG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,255 shares of the oil and gas producer’s stock, valued at approximately $379,000.

A number of other hedge funds have also recently modified their holdings of NFG. Vanguard Group Inc. boosted its holdings in National Fuel Gas by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 13,313,064 shares of the oil and gas producer’s stock valued at $715,178,000 after purchasing an additional 104,587 shares during the last quarter. Energy Income Partners LLC increased its stake in National Fuel Gas by 2.4% during the first quarter. Energy Income Partners LLC now owns 2,595,437 shares of the oil and gas producer’s stock worth $139,427,000 after acquiring an additional 62,009 shares during the last quarter. Gabelli Funds LLC raised its position in National Fuel Gas by 1.0% in the second quarter. Gabelli Funds LLC now owns 2,533,482 shares of the oil and gas producer’s stock valued at $137,289,000 after purchasing an additional 24,800 shares during the period. Victory Capital Management Inc. lifted its stake in shares of National Fuel Gas by 46.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,732,969 shares of the oil and gas producer’s stock valued at $93,910,000 after purchasing an additional 550,153 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in shares of National Fuel Gas by 7.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 1,320,850 shares of the oil and gas producer’s stock worth $70,956,000 after purchasing an additional 96,410 shares during the period. Hedge funds and other institutional investors own 73.96% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on NFG shares. JPMorgan Chase & Co. reduced their price objective on shares of National Fuel Gas from $64.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Scotiabank boosted their price target on shares of National Fuel Gas from $80.00 to $81.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, StockNews.com lowered National Fuel Gas from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th.

National Fuel Gas Trading Up 0.6 %

Shares of NYSE:NFG opened at $62.93 on Thursday. National Fuel Gas has a 52 week low of $45.32 and a 52 week high of $63.54. The company’s 50 day moving average is $60.19 and its two-hundred day moving average is $57.30. The company has a market cap of $5.78 billion, a PE ratio of 12.49 and a beta of 0.62. The company has a current ratio of 0.77, a quick ratio of 0.65 and a debt-to-equity ratio of 0.85.

National Fuel Gas (NYSE:NFG) last posted its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.99 EPS for the quarter, beating the consensus estimate of $0.96 by $0.03. National Fuel Gas had a return on equity of 14.80% and a net margin of 16.42%. The firm had revenue of $417.40 million for the quarter, compared to analyst estimates of $540.62 million. During the same quarter in the prior year, the company posted $1.01 earnings per share. National Fuel Gas’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities analysts predict that National Fuel Gas will post 5.05 earnings per share for the current fiscal year.

National Fuel Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.515 per share. The ex-dividend date was Monday, September 30th. This represents a $2.06 annualized dividend and a dividend yield of 3.27%. National Fuel Gas’s dividend payout ratio is presently 40.87%.

Insider Activity

In other news, General Counsel Michael W. Reville sold 1,700 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $60.77, for a total value of $103,309.00. Following the completion of the sale, the general counsel now directly owns 8,203 shares of the company’s stock, valued at approximately $498,496.31. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.55% of the company’s stock.

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.