BofA Upgrades National Fuel Gas Company (NFG) to 'Buy'; Raises PT to $107

National Fuel Gas Company (NYSE:NFG) is included in our list of the 13 Hot Oil Stocks to Buy Now.

On July 16, 2025, BofA Securities upgraded National Fuel Gas Company (NYSE:NFG) from ‘Underperform’ to ‘Buy’, lifting its price target from $85 to $107. This upgrade comes at a time when the company’s share price is nearing its 52-week high.

The analyst’s bullish stance is attributed to the significant improvement in the company’s Eastern Development Area’s productivity, acquired from Shell in 2020. Recent drilling results indicate output of 2.6 bcf per thousand feet, which is 16% above the company’s forecasts. This positions the company for a more capital-efficient program through 2030.

Looking ahead, National Fuel Gas Company (NYSE:NFG) projects a 5% production CAGR, surpassing the 3% consensus estimate. Furthermore, it expects a 10% reduction in drilling and completion Capex from $504 million to $422 million by 2027.

National Fuel Gas Company (NYSE:NFG) is focused on the exploration, production, and distribution of natural gas and oil. It is included in our list of the hot stocks to buy.

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