Norges Bank Invests $67.39 Million in National Fuel Gas (NYSE:NFG)

Norges Bank bought a new stake in National Fuel Gas (NYSE:NFG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,110,630 shares of the oil and gas producer's stock, valued at approximately $67,393,000. Norges Bank owned 1.23% of National Fuel Gas at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NFG. UMB Bank n.a. increased its stake in National Fuel Gas by 82.9% in the 4th quarter. UMB Bank n.a. now owns 481 shares of the oil and gas producer's stock valued at $29,000 after buying an additional 218 shares during the period. V Square Quantitative Management LLC grew its holdings in shares of National Fuel Gas by 49.5% during the 4th quarter. V Square Quantitative Management LLC now owns 722 shares of the oil and gas producer's stock valued at $44,000 after acquiring an additional 239 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of National Fuel Gas by 5.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 5,906 shares of the oil and gas producer's stock worth $358,000 after acquiring an additional 280 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of National Fuel Gas by 42.7% during the fourth quarter. GAMMA Investing LLC now owns 993 shares of the oil and gas producer's stock worth $60,000 after acquiring an additional 297 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in National Fuel Gas by 5.8% during the fourth quarter. Fifth Third Bancorp now owns 5,894 shares of the oil and gas producer's stock valued at $358,000 after purchasing an additional 322 shares during the last quarter. 73.96% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several brokerages have weighed in on NFG. StockNews.com raised National Fuel Gas from a "sell" rating to a "hold" rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. increased their price objective on National Fuel Gas from $77.00 to $81.00 and gave the stock a "neutral" rating in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $74.67.

National Fuel Gas Stock Up 0.6 %

Shares of NYSE:NFG traded up $0.46 on Monday, reaching $73.49. The company had a trading volume of 493,470 shares, compared to its average volume of 680,035. The stock has a 50-day moving average price of $74.41 and a 200 day moving average price of $66.33. The company has a quick ratio of 0.33, a current ratio of 0.39 and a debt-to-equity ratio of 0.80. National Fuel Gas has a twelve month low of $51.46 and a twelve month high of $80.14. The stock has a market capitalization of $6.65 billion, a P/E ratio of -525.31 and a beta of 0.61.

National Fuel Gas (NYSE:NFG - Get Free Report) last announced its earnings results on Wednesday, January 29th. The oil and gas producer reported $1.66 EPS for the quarter, topping the consensus estimate of $1.44 by $0.22. National Fuel Gas had a negative net margin of 0.53% and a positive return on equity of 15.96%. During the same period in the prior year, the firm posted $1.46 EPS. On average, equities analysts expect that National Fuel Gas will post 6.64 EPS for the current year.

National Fuel Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.80%. National Fuel Gas's dividend payout ratio (DPR) is presently -1,471.43%.

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.