National Fuel Gas (NYSE:NFG) Price Target Lowered to $62.00 at JPMorgan Chase & Co.

National Fuel Gas (NYSE:NFG) had its price objective lowered by JPMorgan Chase & Co. from $64.00 to $62.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

Other analysts have also issued research reports about the company. Scotiabank increased their price objective on National Fuel Gas from $80.00 to $81.00 and gave the company a sector outperform rating in a report on Tuesday, August 20th. StockNews.com lowered National Fuel Gas from a hold rating to a sell rating in a research note on Monday, August 5th.

National Fuel Gas Stock Performance

Shares of NYSE:NFG opened at $60.25 on Thursday. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of 11.95 and a beta of 0.62. The company has a quick ratio of 0.65, a current ratio of 0.77 and a debt-to-equity ratio of 0.85. National Fuel Gas has a 52 week low of $45.32 and a 52 week high of $60.75. The firm has a 50 day moving average of $58.38 and a 200 day moving average of $55.50.

National Fuel Gas (NYSE:NFG) last issued its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. National Fuel Gas had a net margin of 16.42% and a return on equity of 14.80%. The firm had revenue of $417.40 million for the quarter, compared to the consensus estimate of $540.62 million. During the same quarter in the previous year, the firm earned $1.01 EPS. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, sell-side analysts predict that National Fuel Gas will post 5.13 earnings per share for the current fiscal year.

Insider Transactions at National Fuel Gas

In related news, General Counsel Michael W. Reville sold 6,357 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $54.83, for a total value of $348,554.31. Following the sale, the general counsel now owns 9,903 shares in the company, valued at $542,981.49. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.55% of the company’s stock.

Institutional Investors Weigh In On National Fuel Gas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NFG. HBK Sorce Advisory LLC grew its holdings in National Fuel Gas by 1.0% during the first quarter. HBK Sorce Advisory LLC now owns 21,743 shares of the oil and gas producer’s stock worth $1,168,000 after acquiring an additional 225 shares during the period. Financial Advocates Investment Management increased its holdings in shares of National Fuel Gas by 6.2% during the 2nd quarter. Financial Advocates Investment Management now owns 4,182 shares of the oil and gas producer’s stock valued at $227,000 after purchasing an additional 243 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of National Fuel Gas by 0.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 53,460 shares of the oil and gas producer’s stock valued at $2,873,000 after purchasing an additional 244 shares during the period. Mcintyre Freedman & Flynn Investment Advisers Inc. boosted its holdings in National Fuel Gas by 0.5% during the first quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 61,486 shares of the oil and gas producer’s stock worth $3,303,000 after buying an additional 277 shares in the last quarter. Finally, WNY Asset Management LLC grew its position in National Fuel Gas by 0.9% during the first quarter. WNY Asset Management LLC now owns 33,421 shares of the oil and gas producer’s stock valued at $1,795,000 after buying an additional 313 shares during the period. 73.96% of the stock is owned by institutional investors and hedge funds.

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.