National Fuel Gas (NYSE:NFG) Price Target Cut to $62.00

National Fuel Gas (NYSE:NFG) had its price objective cut by equities researchers at JPMorgan Chase & Co. from $64.00 to $62.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 2.96% from the company’s previous close.

Several other equities research analysts have also issued reports on NFG. Scotiabank lifted their price target on National Fuel Gas from $80.00 to $81.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. StockNews.com lowered shares of National Fuel Gas from a “hold” rating to a “sell” rating in a research report on Monday, August 5th.

National Fuel Gas Trading Up 1.8 %

Shares of National Fuel Gas stock opened at $60.22 on Thursday. The company’s 50-day moving average price is $58.38 and its 200-day moving average price is $55.45. 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 has a 12-month low of $45.32 and a 12-month high of $60.75. The company has a market cap of $5.54 billion, a price-to-earnings ratio of 11.95 and a beta of 0.62.

National Fuel Gas (NYSE:NFG) last announced its quarterly 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. The firm had revenue of $417.40 million during the quarter, compared to the consensus estimate of $540.62 million. National Fuel Gas had a net margin of 16.42% and a return on equity of 14.80%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period last year, the firm earned $1.01 EPS. On average, equities analysts expect that National Fuel Gas will post 5.13 earnings per share for the current fiscal year.

Insider Buying and Selling at National Fuel Gas

In other news, General Counsel Michael W. Reville sold 6,357 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $54.83, for a total transaction of $348,554.31. Following the completion of the transaction, the general counsel now directly owns 9,903 shares of the company’s stock, valued at $542,981.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On National Fuel Gas

Several hedge funds have recently made changes to their positions in the business. Beacon Capital Management LLC purchased a new position in shares of National Fuel Gas during the 1st quarter worth approximately $27,000. Hexagon Capital Partners LLC bought a new position in shares of National Fuel Gas during the first quarter valued at $28,000. Valley National Advisers Inc. purchased a new position in National Fuel Gas in the second quarter worth about $37,000. Lindbrook Capital LLC lifted its position in National Fuel Gas by 123.0% in the 1st quarter. Lindbrook Capital LLC now owns 767 shares of the oil and gas producer’s stock valued at $41,000 after acquiring an additional 423 shares in the last quarter. Finally, LifeSteps Financial Inc. purchased a new position in shares of National Fuel Gas in the first quarter worth $46,000. 73.96% of the stock is owned by hedge funds and other institutional investors.

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.