Bank of America Initiates Coverage on National Fuel Gas (NYSE:NFG)

Stock analysts at Bank of America initiated coverage on shares of National Fuel Gas (NYSE:NFG) in a research report issued to clients and investors on Monday, StockNewsAPI reports. The brokerage set an “underperform” rating and a $62.00 price target on the oil and gas producer’s stock. Bank of America‘s price target points to a potential upside of 1.59% from the company’s previous close.

Several other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. decreased their price target 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, Scotiabank upped their price target on National Fuel Gas from $80.00 to $81.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th.

National Fuel Gas Trading Down 0.4 %

NYSE NFG opened at $61.03 on Monday. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 17.69 and a beta of 0.62. National Fuel Gas has a 52 week low of $45.32 and a 52 week high of $63.54. The business has a 50 day moving average price of $60.41 and a 200-day moving average price of $57.56. 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 (NYSE:NFG) last announced its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.99 earnings per share (EPS) 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 business had revenue of $417.40 million during the quarter, compared to the consensus estimate of $540.62 million. During the same quarter in the prior year, the company posted $1.01 earnings per share. National Fuel Gas’s revenue was down 2.6% compared to the same quarter last year. As a group, equities analysts expect that National Fuel Gas will post 5.08 earnings per share for the current fiscal year.

Insider Buying and Selling at National Fuel Gas

In other National Fuel Gas news, General Counsel Michael W. Reville sold 1,700 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $60.77, for a total value of $103,309.00. Following the completion of the transaction, the general counsel now owns 8,203 shares in the company, valued at $498,496.31. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. lifted its position in shares of National Fuel Gas by 46.5% during the 2nd 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 last quarter. AQR Capital Management LLC lifted its position in shares of 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 valued at $47,711,000 after buying an additional 541,176 shares during the last quarter. Equity Investment Corp lifted its position in shares of National Fuel Gas by 27.7% during the 1st quarter. Equity Investment Corp now owns 1,242,186 shares of the oil and gas producer’s stock valued at $66,730,000 after buying an additional 269,441 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of National Fuel Gas by 194.3% during the 2nd 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 buying an additional 249,967 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of National Fuel Gas by 262.5% during the 2nd quarter. Mackenzie Financial Corp now owns 318,078 shares of the oil and gas producer’s stock valued at $17,237,000 after buying an additional 230,332 shares during the last quarter. Institutional investors own 73.96% of the company’s stock.

National Fuel Gas Company Profile

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.