Reston Wealth Management LLC Purchases Shares of 823 National Fuel Gas (NYSE:NFG)

Reston Wealth Management LLC acquired a new position in National Fuel Gas (NYSE:NFG) in the third quarter, HoldingsChannel reports. The firm acquired 823 shares of the oil and gas producer’s stock, valued at approximately $50,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in National Fuel Gas by 46.5% during the second 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 buying an additional 550,153 shares during the period. AQR Capital Management LLC grew its position in National Fuel Gas by 159.5% during the 2nd quarter. AQR Capital Management LLC now owns 880,434 shares of the oil and gas producer’s stock worth $47,711,000 after acquiring an additional 541,176 shares during the last quarter. Equity Investment Corp lifted its position in National Fuel Gas by 27.7% in the first quarter. Equity Investment Corp now owns 1,242,186 shares of the oil and gas producer’s stock valued at $66,730,000 after purchasing an additional 269,441 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of National Fuel Gas by 194.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 378,588 shares of the oil and gas producer’s stock valued at $20,516,000 after purchasing an additional 249,967 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in shares of National Fuel Gas by 262.5% in the second quarter. Mackenzie Financial Corp now owns 318,078 shares of the oil and gas producer’s stock worth $17,237,000 after purchasing an additional 230,332 shares during the last quarter. Institutional investors own 73.96% of the company’s stock.

National Fuel Gas Stock Down 0.5 %

NFG stock opened at $60.53 on Friday. National Fuel Gas has a fifty-two week low of $45.32 and a fifty-two week high of $63.54. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 17.54 and a beta of 0.62. The business’s 50 day moving average price is $60.45 and its two-hundred day moving average price is $57.58. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.65 and a current ratio of 0.77.

National Fuel Gas (NYSE:NFG) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.99 earnings per share for the quarter, topping 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 company had revenue of $417.40 million for the quarter, compared to analysts’ expectations of $540.62 million. During the same period in the prior year, the firm earned $1.01 earnings per share. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, analysts forecast that National Fuel Gas will post 5.08 earnings per share for the current fiscal year.

National Fuel Gas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors 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 dividend on an annualized basis and a yield of 3.40%. National Fuel Gas’s dividend payout ratio (DPR) is currently 59.71%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NFG shares. Scotiabank boosted their price objective on shares of National Fuel Gas from $80.00 to $81.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. dropped their price objective on National Fuel Gas from $64.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. StockNews.com downgraded National Fuel Gas from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. Finally, Bank of America initiated coverage on shares of National Fuel Gas in a research report on Monday. They set an “underperform” rating and a $62.00 price objective on the stock.

Insider Buying and Selling

In other National Fuel Gas news, General Counsel Michael W. Reville sold 1,700 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $60.77, for a total transaction of $103,309.00. Following the completion of the transaction, the general counsel now owns 8,203 shares of the company’s stock, valued at approximately $498,496.31. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.55% of the stock is currently owned by insiders.

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.