National Fuel Gas (NYSE:NFG) Stake Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of National Fuel Gas (NYSE:NFG - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,082,532 shares of the oil and gas producer's stock after selling 129,310 shares during the period. Bank of New York Mellon Corp owned 1.20% of National Fuel Gas worth $65,688,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Daiwa Securities Group Inc. grew its holdings in shares of National Fuel Gas by 12.6% during the third quarter. Daiwa Securities Group Inc. now owns 7,698 shares of the oil and gas producer's stock worth $467,000 after buying an additional 859 shares during the last quarter. Clear Creek Financial Management LLC purchased a new stake in shares of National Fuel Gas during the fourth quarter worth approximately $238,000. Zacks Investment Management acquired a new stake in shares of National Fuel Gas during the third quarter worth $957,000. Empowered Funds LLC acquired a new position in National Fuel Gas in the 3rd quarter valued at $1,277,000. Finally, Vestcor Inc purchased a new position in National Fuel Gas during the 3rd quarter worth $716,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NFG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of National Fuel Gas from $65.00 to $64.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 12th. Argus upgraded National Fuel Gas to a "strong-buy" rating in a research report on Tuesday, November 19th. Finally, StockNews.com raised National Fuel Gas from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $69.00.

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National Fuel Gas Price Performance

Shares of NFG stock traded up $0.49 during mid-day trading on Friday, reaching $74.05. The stock had a trading volume of 238,356 shares, compared to its average volume of 503,435. The company has a current ratio of 0.39, a quick ratio of 0.33 and a debt-to-equity ratio of 0.80. National Fuel Gas has a 12-month low of $50.22 and a 12-month high of $76.26. The company has a market cap of $6.71 billion, a P/E ratio of -529.16 and a beta of 0.57. The business has a 50-day simple moving average of $68.73 and a 200 day simple moving average of $63.59.

National Fuel Gas (NYSE:NFG - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.66 earnings per share for the quarter, beating the consensus estimate 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 firm posted $1.46 earnings per share. On average, sell-side analysts anticipate that National Fuel Gas will post 6.64 earnings per share for the current year.

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.