Occidental Asset Management LLC Purchases New Shares in National Fuel Gas Company $NFG

Occidental Asset Management LLC acquired a new stake in National Fuel Gas Company (NYSE:NFG) during the second quarter, HoldingsChannel reports. The fund acquired 13,016 shares of the oil and gas producer’s stock, valued at approximately $1,005,000.

Several other large investors have also recently added to or reduced their stakes in the company. NewEdge Wealth LLC lifted its holdings in shares of National Fuel Gas by 6.2% during the fourth quarter. NewEdge Wealth LLC now owns 2,680 shares of the oil and gas producer’s stock worth $215,000 after buying an additional 156 shares in the last quarter. Optas LLC increased its position in National Fuel Gas by 5.3% during the first quarter. Optas LLC now owns 3,238 shares of the oil and gas producer’s stock worth $304,000 after acquiring an additional 163 shares during the period. Brooklyn Investment Group raised its stake in National Fuel Gas by 7.5% in the 3rd quarter. Brooklyn Investment Group now owns 2,434 shares of the oil and gas producer’s stock worth $225,000 after purchasing an additional 169 shares in the last quarter. Inspire Investing LLC raised its stake in National Fuel Gas by 5.3% in the 1st quarter. Inspire Investing LLC now owns 3,465 shares of the oil and gas producer’s stock worth $326,000 after purchasing an additional 174 shares in the last quarter. Finally, Advisory Services Network LLC boosted its holdings in National Fuel Gas by 1.1% in the 3rd quarter. Advisory Services Network LLC now owns 16,732 shares of the oil and gas producer’s stock valued at $1,546,000 after purchasing an additional 175 shares during the period. Institutional investors own 73.96% of the company’s stock.

National Fuel Gas Trading Down 0.3%

NFG opened at $81.71 on Tuesday. The company has a market cap of $7.77 billion, a P/E ratio of 11.35, a PEG ratio of 1.82 and a beta of 0.37. The company has a current ratio of 3.20, a quick ratio of 3.07 and a debt-to-equity ratio of 0.91. The company’s 50 day moving average is $79.54 and its 200-day moving average is $84.55. National Fuel Gas Company has a 1-year low of $75.17 and a 1-year high of $97.06.

National Fuel Gas (NYSE:NFG) last released its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.10. The business had revenue of $537.50 million during the quarter, compared to analysts’ expectations of $564.33 million. National Fuel Gas had a net margin of 26.97% and a return on equity of 19.04%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.64 EPS. Equities research analysts predict that National Fuel Gas Company will post 7.5 earnings per share for the current fiscal year.

National Fuel Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.555 per share. This represents a $2.22 annualized dividend and a dividend yield of 2.7%. This is a boost from National Fuel Gas’s previous quarterly dividend of $0.54. The ex-dividend date was Tuesday, June 30th. National Fuel Gas’s dividend payout ratio (DPR) is currently 30.83%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NFG. Weiss Ratings lowered shares of National Fuel Gas from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Wall Street Zen raised National Fuel Gas from a “sell” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, National Fuel Gas presently has a consensus rating of “Moderate Buy” and an average price target of $105.50.

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.