Poplar Forest Capital LLC Has $31.78 Million Position in National Fuel Gas (NYSE:NFG)

Poplar Forest Capital LLC raised its holdings in shares of National Fuel Gas (NYSE:NFG) by 0.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 586,458 shares of the oil and gas producer’s stock after purchasing an additional 1,000 shares during the period. National Fuel Gas comprises about 4.4% of Poplar Forest Capital LLC’s portfolio, making the stock its 4th largest holding. Poplar Forest Capital LLC owned approximately 0.64% of National Fuel Gas worth $31,780,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NFG. Norges Bank bought a new stake in National Fuel Gas during the fourth quarter valued at $49,804,000. Victory Capital Management Inc. increased its stake in National Fuel Gas by 46.5% during the second 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 purchasing an additional 550,153 shares during the last quarter. Equity Investment Corp increased its stake in 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 purchasing an additional 269,441 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in National Fuel Gas by 194.3% during the second 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 purchasing an additional 249,967 shares during the last quarter. Finally, Great Lakes Advisors LLC bought a new stake in National Fuel Gas during the second quarter valued at $10,741,000. Institutional investors own 73.96% of the company’s stock.

National Fuel Gas Stock Performance

Shares of NFG traded down $0.37 during midday trading on Friday, hitting $58.96. 534,422 shares of the stock traded hands, compared to its average volume of 534,363. National Fuel Gas has a 1-year low of $45.32 and a 1-year high of $60.75. The firm has a market capitalization of $5.42 billion, a PE ratio of 11.70 and a beta of 0.62. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.65 and a current ratio of 0.77. The business’s 50 day moving average price is $57.84 and its two-hundred day moving average price is $55.12.

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

National Fuel Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.515 dividend. 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 an increase from National Fuel Gas’s previous quarterly dividend of $0.50. National Fuel Gas’s dividend payout ratio is presently 40.87%.

Insider Buying and Selling

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on NFG shares. StockNews.com downgraded shares of National Fuel Gas from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Scotiabank boosted their price target on shares of National Fuel Gas from $80.00 to $81.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th.

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.