National Fuel Gas (NYSE:NFG) Given New $62.00 Price Target at JPMorgan Chase & Co.

National Fuel Gas (NYSE:NFG) had its target price cut by JPMorgan Chase & Co. from $64.00 to $62.00 in a research note released on Thursday morning, Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

A number of other equities research analysts have also recently commented on NFG. Scotiabank increased 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. StockNews.com downgraded National Fuel Gas from a hold rating to a sell rating in a research note on Monday, August 5th.

National Fuel Gas Stock Down 2.2 %

Shares of NYSE:NFG opened at $59.17 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.65 and a debt-to-equity ratio of 0.85. The stock has a fifty day simple moving average of $58.26 and a two-hundred day simple moving average of $55.37. National Fuel Gas has a 12-month low of $45.32 and a 12-month high of $60.75. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 11.74 and a beta of 0.62.

National Fuel Gas (NYSE:NFG) last posted its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.03. The firm had revenue of $417.40 million during the quarter, compared to analyst estimates of $540.62 million. National Fuel Gas had a return on equity of 14.80% and a net margin of 16.42%. National Fuel Gas’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 EPS. On average, research analysts anticipate that National Fuel Gas will post 5.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Michael W. Reville sold 6,357 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $54.83, for a total transaction of $348,554.31. Following the completion of the transaction, the general counsel now directly 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 can be accessed through the SEC website. 1.55% of the stock is owned by insiders.

Institutional Investors Weigh In On National Fuel Gas

A number of hedge funds have recently added to or reduced their stakes in the stock. Beacon Capital Management LLC bought a new position in shares of National Fuel Gas in the 1st quarter worth approximately $27,000. Hexagon Capital Partners LLC bought a new position in National Fuel Gas in the first quarter worth approximately $28,000. Valley National Advisers Inc. purchased a new position in shares of National Fuel Gas during the 2nd quarter worth $37,000. Lindbrook Capital LLC grew its position in shares of National Fuel Gas by 123.0% during the 1st quarter. Lindbrook Capital LLC now owns 767 shares of the oil and gas producer’s stock valued at $41,000 after acquiring an additional 423 shares during the period. Finally, LRI Investments LLC purchased a new stake in shares of National Fuel Gas in the 1st quarter worth $46,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

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.