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National Fuel Gas (NFG)

National Fuel is a diversified energy company headquartered in Western New York that operates an integrated collection of natural gas and oil assets across four business segments: Exploration & Production, Pipeline & Storage, Gathering, and Utility.

Company profile

Ticker
NFG
Exchange
Website
CEO
David Bauer
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Subsidiaries
National Fuel Gas Distribution Corporation • National Fuel Gas Supply Corporation • Seneca Resources Company, LLC • Empire Pipeline, Inc. • National Fuel Resources, Inc. • National Fuel Gas Midstream Company, LLC • NFG Midstream Covington, LLC • NFG Midstream Trout Run, LLC • NFG Midstream Processing, LLC • NFG Midstream Tionesta, LLC ...
IRS number
131086010

NFG stock data

Analyst ratings and price targets

Last 3 months
Current price
Average target
$73.00
Low target
$60.00
High target
$86.00
Goldman Sachs
Maintains
Neutral
$60.00
5 Jul 22
Raymond James
Maintains
Outperform
$86.00
10 Jun 22

Calendar

5 Aug 22
9 Aug 22
30 Sep 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Sep 21 Sep 20 Sep 19 Sep 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jul 22 David P Bauer Common Stock Payment of exercise Dispose F No No 66.74 1,951 130.21K 75,047
1 Jul 22 David P Bauer Common Stock Option exercise Acquire M No No 0 5,410 0 76,998
1 Jul 22 David P Bauer RSU Common Stock Option exercise Dispose M No No 0 5,410 0 5,411
1 Jul 22 David Hugo Anderson Deferred Stock Units Common Stock Grant Acquire A No No 66.74 656 43.78K 6,811
1 Jul 22 Baumann Barbara M Common Stock Grant Acquire A No No 66.74 656 43.78K 11,411
1 Jul 22 Joseph N Jaggers Common Stock Grant Acquire A No No 66.74 656 43.78K 23,602
1 Jul 22 Finch Steven C. Deferred Stock Units Common Stock Grant Acquire A No No 66.74 656 43.78K 6,811
14 Apr 22 David Hugo Anderson Common Stock Other Acquire J Yes No 70.396 1 70.4 194
14 Apr 22 David Hugo Anderson Deferred Stock Units Common Stock Other Acquire J No No 71.53 35 2.5K 6,155
14 Apr 22 Finch Steven C. Deferred Stock Units Common Stock Other Acquire J No No 71.53 35 2.5K 6,155

Financial report summary

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Risks
  • The Company is dependent on capital and credit markets to successfully execute its business strategies.
  • Climate change, and the regulatory, legislative, consumer behaviors and capital access developments related to climate change, may adversely affect operations and financial results.
  • Organized opposition to the oil and gas industry could have an adverse effect on Company operations.
  • Delays or changes in plans or costs with respect to Company projects, including regulatory delays or denials with respect to necessary approvals, permits or orders, could delay or prevent anticipated project completion and may result in asset write-offs and reduced earnings.
  • As a holding company, the Company depends on its operating subsidiaries to meet its financial obligations.
  • The Company may be adversely affected by economic conditions and their impact on our suppliers and customers.
  • Changes in interest rates may affect the Company’s financing and its regulated businesses’ rates of return.
  • Fluctuations in oil and gas prices could adversely affect revenues, cash flows and profitability.
  • You should not place undue reliance on reserve information because such information represents estimates.
  • The COVID-19 global pandemic could have a material adverse effect on the Company’s business, results of operations, cash flows and financial condition.
  • The nature of the Company’s operations presents inherent risks of loss that could adversely affect its results of operations, financial condition and cash flows.
  • Third party attempts to breach the Company’s network security could disrupt the Company’s operations and adversely affect its financial results.
  • The amount and timing of actual future oil and gas production and the cost of drilling are difficult to predict and may vary significantly from reserves and production estimates, which may reduce the Company’s earnings.
  • The physical risks associated with climate change may adversely affect the Company’s operations and financial results.
  • The Company’s need to comply with comprehensive, complex, and the sometimes unpredictable enforcement of government regulations may increase its costs and limit its revenue growth, which may result in reduced earnings.
  • Environmental regulation significantly affects the Company’s business.
  • Increased regulation of exploration and production activities, including hydraulic fracturing, could adversely impact the Company.
  • The Company’s credit ratings may not reflect all the risks of an investment in its securities.
  • The increasing costs of certain employee and retiree benefits could adversely affect the Company’s results.
  • Significant shareholders or potential shareholders may attempt to effect changes at the Company or acquire control over the Company, which could adversely affect the Company’s results of operations and financial condition.
Management Discussion
  •     Operating revenues for the Exploration and Production segment increased $43.1 million for the quarter ended June 30, 2022 as compared with the quarter ended June 30, 2021. Gas production revenue after hedging increased $81.0 million due to the impact of a 9.5 Bcf increase in natural gas production, together with a $0.67 per Mcf increase in the weighted average price of natural gas after hedging. Natural gas production increased largely due to additional production from new Marcellus and Utica wells in the Appalachian region. Oil production revenue after hedging increased $7.8 million due to an increase in the weighted average price of oil after hedging of $18.43 per Bbl, partially offset by the impact of a 32 Mbbl decrease in oil production. The decrease in oil production was largely due to natural production declines. These amounts were partially offset by a decrease in other revenue of $46.0 million. The decrease in other revenue is primarily attributed to a loss on discontinuance of crude oil cash flow hedges combined with royalty shut-in payments made in accordance with lease agreements.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
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Removed: directing, directive, eligible, extraction, fracking, Governor, investigate, Midway, phasing, relate, request, showing, Sunset