Corebridge Financial Inc. Reduces Stock Position in National Fuel Gas (NYSE:NFG)

Corebridge Financial Inc. trimmed its position in National Fuel Gas (NYSE:NFG) by 4.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 103,371 shares of the oil and gas producer’s stock after selling 4,660 shares during the period. Corebridge Financial Inc.’s holdings in National Fuel Gas were worth $6,273,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. lifted its stake in shares of National Fuel Gas by 3.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,584,155 shares of the oil and gas producer’s stock valued at $156,807,000 after buying an additional 85,950 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in National Fuel Gas by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 920,918 shares of the oil and gas producer’s stock valued at $55,817,000 after acquiring an additional 7,830 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of National Fuel Gas by 33.3% during the 3rd quarter. Franklin Resources Inc. now owns 220,869 shares of the oil and gas producer’s stock worth $13,386,000 after purchasing an additional 55,152 shares during the period. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of National Fuel Gas by 0.8% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 214,098 shares of the oil and gas producer’s stock worth $12,991,000 after purchasing an additional 1,667 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. grew its position in shares of National Fuel Gas by 0.5% in the fourth quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 159,753 shares of the oil and gas producer’s stock valued at $9,694,000 after purchasing an additional 792 shares during the period. 73.96% of the stock is owned by institutional investors and hedge funds.

National Fuel Gas Trading Up 0.2 %

Shares of NFG opened at $78.81 on Friday. National Fuel Gas has a twelve month low of $51.46 and a twelve month high of $79.49. The firm has a market capitalization of $7.14 billion, a P/E ratio of -562.85 and a beta of 0.57. The company has a current ratio of 0.39, a quick ratio of 0.33 and a debt-to-equity ratio of 0.80. The stock’s fifty day simple moving average is $73.51 and its 200 day simple moving average is $65.66.

National Fuel Gas (NYSE:NFG) last released its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.22. National Fuel Gas had a positive return on equity of 15.96% and a negative net margin of 0.53%. During the same period in the prior year, the business posted $1.46 EPS. On average, equities research analysts forecast that National Fuel Gas will post 6.64 earnings per share for the current year.

National Fuel Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.06 annualized dividend and a yield of 2.61%. National Fuel Gas’s dividend payout ratio is currently -1,471.43%.

Analyst Ratings Changes

Several equities analysts recently weighed in on NFG shares. StockNews.com upgraded 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 shares of National Fuel Gas from $77.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $74.67.

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.