Short Interest in National Fuel Gas Co. (NYSE:NFG) Decreases By 9.3%

National Fuel Gas Co. (NYSE:NFG) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 5,380,000 shares, a decrease of 9.3% from the September 30th total of 5,930,000 shares. Approximately 6.4% of the company’s stock are sold short. Based on an average trading volume of 647,200 shares, the short-interest ratio is currently 8.3 days.

Shares of NYSE NFG traded up $0.84 during mid-day trading on Friday, reaching $45.95. 671,220 shares of the company traded hands, compared to its average volume of 704,687. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.67 and a current ratio of 0.85. The stock has a market cap of $3.89 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 5.24 and a beta of 0.74. The company’s fifty day moving average is $45.48 and its two-hundred day moving average is $50.05. National Fuel Gas has a fifty-two week low of $42.98 and a fifty-two week high of $61.71.

National Fuel Gas (NYSE:NFG) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.01. The business had revenue of $293.34 million for the quarter, compared to analyst estimates of $336.30 million. National Fuel Gas had a return on equity of 14.40% and a net margin of 17.97%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 EPS. Research analysts forecast that National Fuel Gas will post 3.08 earnings per share for the current year.

A number of equities research analysts have recently weighed in on the company. ValuEngine raised National Fuel Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Citigroup cut their price target on National Fuel Gas from $61.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Zacks Investment Research raised National Fuel Gas from a “strong sell” rating to a “hold” rating and set a $41.00 price target for the company in a research note on Thursday, August 8th. Finally, Jefferies Financial Group raised National Fuel Gas from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. National Fuel Gas presently has a consensus rating of “Hold” and an average target price of $47.00.

Hedge funds and other institutional investors have recently modified their holdings of the company. Chicago Equity Partners LLC bought a new stake in shares of National Fuel Gas in the 2nd quarter worth approximately $267,000. Bank of America Corp DE lifted its position in shares of National Fuel Gas by 8.3% in the 2nd quarter. Bank of America Corp DE now owns 695,725 shares of the oil and gas producer’s stock worth $36,699,000 after acquiring an additional 53,576 shares during the period. Teza Capital Management LLC lifted its position in shares of National Fuel Gas by 34.7% in the 2nd quarter. Teza Capital Management LLC now owns 10,727 shares of the oil and gas producer’s stock worth $566,000 after acquiring an additional 2,766 shares during the period. Pacer Advisors Inc. bought a new stake in shares of National Fuel Gas in the 2nd quarter worth approximately $1,811,000. Finally, Moors & Cabot Inc. lifted its position in shares of National Fuel Gas by 166.3% in the 2nd quarter. Moors & Cabot Inc. now owns 10,120 shares of the oil and gas producer’s stock worth $535,000 after acquiring an additional 6,320 shares during the period. 73.03% of the stock is currently owned by institutional investors and hedge funds.

National Fuel Gas Company Profile

National Fuel Gas Company operates as a diversified energy company. It operates through five segments: Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing. The Exploration and Production segment explores for, develops, and produces natural gas and oil in California and in the Appalachian region of the United States.

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