Oppenheimer & Co. Inc. Cuts Stake in National Fuel Gas Co. (NYSE:NFG)

Oppenheimer & Co. Inc. reduced its stake in National Fuel Gas Co. (NYSE:NFG) by 44.3% during the second quarter, HoldingsChannel reports. The fund owned 5,020 shares of the oil and gas producer’s stock after selling 4,000 shares during the period. Oppenheimer & Co. Inc.’s holdings in National Fuel Gas were worth $265,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NFG. Chicago Equity Partners LLC purchased a new stake in shares of National Fuel Gas during the second quarter valued at $267,000. Teza Capital Management LLC raised its stake in shares of National Fuel Gas by 34.7% in the second quarter. Teza Capital Management LLC now owns 10,727 shares of the oil and gas producer’s stock worth $566,000 after buying an additional 2,766 shares during the period. Moors & Cabot Inc. raised its stake in shares of National Fuel Gas by 166.3% in the second quarter. Moors & Cabot Inc. now owns 10,120 shares of the oil and gas producer’s stock worth $535,000 after buying an additional 6,320 shares during the period. Summit Global Investments raised its stake in shares of National Fuel Gas by 1.4% in the first quarter. Summit Global Investments now owns 198,593 shares of the oil and gas producer’s stock worth $12,106,000 after buying an additional 2,733 shares during the period. Finally, CIBC Asset Management Inc purchased a new stake in shares of National Fuel Gas during the first quarter worth about $201,000. 73.27% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on the company. ValuEngine cut National Fuel Gas from a “hold” rating to a “sell” rating in a research report on Thursday, July 18th. TheStreet cut National Fuel Gas from a “b” rating to a “c+” rating in a report on Friday, July 19th. Finally, Zacks Investment Research upgraded National Fuel Gas from a “strong sell” rating to a “hold” rating and set a $41.00 price target for the company in a report on Thursday, August 8th.

NYSE NFG traded up $0.22 during trading on Friday, hitting $48.96. 5,742 shares of the stock traded hands, compared to its average volume of 509,202. The company has a market capitalization of $4.25 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 4.99 and a beta of 0.76. The firm has a 50-day simple moving average of $47.14 and a 200-day simple moving average of $54.53. The company has a quick ratio of 0.88, a current ratio of 1.02 and a debt-to-equity ratio of 1.00. National Fuel Gas Co. has a 12-month low of $45.47 and a 12-month high of $61.71.

National Fuel Gas (NYSE:NFG) last released its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.08. The business had revenue of $357.20 million during the quarter, compared to analysts’ expectations of $400.88 million. National Fuel Gas had a return on equity of 14.53% and a net margin of 17.46%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 EPS. As a group, research analysts predict that National Fuel Gas Co. will post 3.53 EPS for the current fiscal year.

National Fuel Gas Company Profile

National Fuel Gas Company operates as a diversified energy company. It operates through five segments: Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing. The Exploration and Production segment explores for, develops, and produces natural gas and oil in California and in the Appalachian region of the United States.

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Institutional Ownership by Quarter for National Fuel Gas (NYSE:NFG)

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