Castleark Management LLC Buys Shares of 7,660 National Fuel Gas Company $NFG

Castleark Management LLC acquired a new position in shares of National Fuel Gas Company (NYSE:NFG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,660 shares of the oil and gas producer’s stock, valued at approximately $591,000.

A number of other hedge funds have also modified their holdings of the company. SJS Investment Consulting Inc. grew its position in National Fuel Gas by 458.0% in the first quarter. SJS Investment Consulting Inc. now owns 279 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 229 shares in the last quarter. Fairscale Capital LLC bought a new stake in National Fuel Gas in the fourth quarter valued at approximately $29,000. HM Payson & Co. acquired a new stake in National Fuel Gas during the 4th quarter valued at $29,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of National Fuel Gas during the 1st quarter worth about $38,000. Finally, Bogart Wealth LLC boosted its stake in National Fuel Gas by 170.2% in the 1st quarter. Bogart Wealth LLC now owns 516 shares of the oil and gas producer’s stock valued at $49,000 after purchasing an additional 325 shares during the period. 73.96% of the stock is currently owned by institutional investors.

National Fuel Gas Trading Up 1.8%

Shares of NFG stock opened at $83.61 on Thursday. National Fuel Gas Company has a twelve month low of $75.17 and a twelve month high of $97.06. The stock’s fifty day simple moving average is $80.43 and its 200 day simple moving average is $84.52. The company has a quick ratio of 3.07, a current ratio of 3.20 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $7.95 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.83 and a beta of 0.37.

National Fuel Gas (NYSE:NFG) last posted its earnings results on Thursday, July 30th. The oil and gas producer reported $1.54 EPS for the quarter, beating the consensus estimate of $1.44 by $0.10. National Fuel Gas had a return on equity of 19.04% and a net margin of 26.97%.The firm had revenue of $537.50 million during the quarter, compared to the consensus estimate of $564.33 million. During the same period last year, the company earned $1.64 earnings per share. The business’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts predict that National Fuel Gas Company will post 7.5 EPS for the current fiscal year.

National Fuel Gas Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NFG shares. Weiss Ratings downgraded shares of National Fuel Gas from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Wall Street Zen raised National Fuel Gas from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, National Fuel Gas has an average rating of “Moderate Buy” and an average price target of $105.50.

National Fuel Gas 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.