Victory Capital Management Inc. Grows Position in National Fuel Gas (NYSE:NFG)

Victory Capital Management Inc. raised its holdings in National Fuel Gas (NYSE:NFG) by 46.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,732,969 shares of the oil and gas producer’s stock after purchasing an additional 550,153 shares during the period. Victory Capital Management Inc. owned 1.89% of National Fuel Gas worth $93,910,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of National Fuel Gas during the fourth quarter worth $49,804,000. Equity Investment Corp increased its position in shares of National Fuel Gas by 27.7% during 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 buying an additional 269,441 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of National Fuel Gas by 194.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 378,588 shares of the oil and gas producer’s stock worth $20,516,000 after buying an additional 249,967 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of National Fuel Gas in the fourth quarter valued at approximately $8,251,000. Finally, Vanguard Group Inc. grew its stake in National Fuel Gas by 0.8% during the first quarter. Vanguard Group Inc. now owns 13,313,064 shares of the oil and gas producer’s stock valued at $715,178,000 after acquiring an additional 104,587 shares in the last quarter. Institutional investors own 73.96% of the company’s stock.

National Fuel Gas Stock Down 0.6 %

NFG stock opened at $58.96 on Friday. The company’s 50 day moving average is $57.84 and its 200 day moving average is $55.12. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 11.70 and a beta of 0.62. 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 1-year low of $45.32 and a 1-year high of $60.75.

National Fuel Gas (NYSE:NFG) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. National Fuel Gas had a net margin of 16.42% and a return on equity of 14.80%. The firm had revenue of $417.40 million for the quarter, compared to analyst estimates of $540.62 million. During the same quarter in the prior year, the firm earned $1.01 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. Sell-side analysts predict that National Fuel Gas will post 5.21 EPS for the current fiscal year.

National Fuel Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $2.06 annualized dividend and a yield of 3.49%. This is a positive change from National Fuel Gas’s previous quarterly dividend of $0.50. National Fuel Gas’s payout ratio is 40.87%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Scotiabank increased their target price on shares of 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 cut shares of National Fuel Gas from a “hold” rating to a “sell” rating in a report on Monday, August 5th.

Insider Activity

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

National Fuel Gas 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.