CNB Bank Has $93,000 Stock Holdings in National Fuel Gas (NYSE:NFG)

CNB Bank cut its stake in shares of National Fuel Gas (NYSE:NFG) by 13.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,852 shares of the oil and gas producer’s stock after selling 289 shares during the period. CNB Bank’s holdings in National Fuel Gas were worth $93,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NFG. State Street Corp raised its position in shares of National Fuel Gas by 20.7% during the first quarter. State Street Corp now owns 7,298,076 shares of the oil and gas producer’s stock worth $504,599,000 after purchasing an additional 1,252,192 shares during the period. Vanguard Group Inc. boosted its position in National Fuel Gas by 8.2% during the 3rd quarter. Vanguard Group Inc. now owns 11,771,775 shares of the oil and gas producer’s stock worth $724,553,000 after acquiring an additional 892,065 shares during the period. Norges Bank acquired a new stake in National Fuel Gas during the 4th quarter worth about $53,631,000. Victory Capital Management Inc. boosted its position in National Fuel Gas by 2,307.5% during the 3rd quarter. Victory Capital Management Inc. now owns 727,659 shares of the oil and gas producer’s stock worth $37,773,000 after acquiring an additional 697,434 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in National Fuel Gas by 19.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,868,815 shares of the oil and gas producer’s stock worth $200,830,000 after acquiring an additional 641,010 shares during the period. 73.96% of the stock is owned by institutional investors and hedge funds.

National Fuel Gas Stock Up 2.7 %

Shares of NFG traded up $1.42 during midday trading on Friday, reaching $53.43. 519,983 shares of the stock were exchanged, compared to its average volume of 432,778. National Fuel Gas has a 12-month low of $45.32 and a 12-month high of $56.67. The firm has a 50 day simple moving average of $51.12 and a 200-day simple moving average of $50.80. The company has a quick ratio of 0.47, a current ratio of 0.56 and a debt-to-equity ratio of 0.75. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 11.21 and a beta of 0.63.

National Fuel Gas (NYSE:NFG) last posted its quarterly earnings results on Thursday, February 8th. The oil and gas producer reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.14. National Fuel Gas had a return on equity of 14.81% and a net margin of 21.58%. The company had revenue of $525.36 million during the quarter, compared to the consensus estimate of $664.57 million. During the same period last year, the business earned $1.84 EPS. The business’s quarterly revenue was down 20.3% on a year-over-year basis. Research analysts forecast that National Fuel Gas will post 4.87 EPS for the current year.

National Fuel Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend was Wednesday, March 27th. National Fuel Gas’s dividend payout ratio (DPR) is presently 41.51%.

Analyst Ratings Changes

A number of brokerages have commented on NFG. Scotiabank raised their price objective on National Fuel Gas from $67.00 to $72.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. StockNews.com upgraded National Fuel Gas from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th.

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.