National Fuel Gas (NYSE:NFG) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its position in shares of National Fuel Gas (NYSE:NFG - Free Report) by 55.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,888 shares of the oil and gas producer's stock after selling 11,209 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in National Fuel Gas were worth $539,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Beacon Capital Management LLC acquired a new stake in National Fuel Gas in the 1st quarter worth about $27,000. Capital Performance Advisors LLP purchased a new stake in National Fuel Gas in the third quarter valued at approximately $28,000. V Square Quantitative Management LLC acquired a new position in National Fuel Gas during the third quarter worth approximately $29,000. Venturi Wealth Management LLC purchased a new position in National Fuel Gas during the third quarter worth approximately $35,000. Finally, Valley National Advisers Inc. purchased a new position in National Fuel Gas during the second quarter worth approximately $37,000. Institutional investors and hedge funds own 73.96% of the company's stock.

Insider Activity

In other news, General Counsel Michael W. Reville sold 1,700 shares of National Fuel Gas stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $60.77, for a total transaction of $103,309.00. Following the sale, the general counsel now directly owns 8,203 shares of the company's stock, valued at approximately $498,496.31. The trade was a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.55% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on NFG shares. JPMorgan Chase & Co. dropped their price objective on National Fuel Gas from $65.00 to $64.00 and set a "neutral" rating for the company in a report on Tuesday, November 12th. Bank of America assumed coverage on National Fuel Gas in a research note on Monday, October 28th. They issued an "underperform" rating and a $62.00 price objective on the stock. StockNews.com downgraded shares of National Fuel Gas from a "hold" rating to a "sell" rating in a research report on Saturday, October 19th. Finally, Scotiabank lifted their price target on shares of National Fuel Gas from $80.00 to $81.00 and gave the company a "sector outperform" rating in a research report on Tuesday, August 20th.

National Fuel Gas Price Performance

Shares of NYSE NFG opened at $61.08 on Friday. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 75.41 and a beta of 0.62. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.32 and a quick ratio of 0.25. National Fuel Gas has a 1-year low of $45.32 and a 1-year high of $63.54. The business has a 50-day moving average of $60.75 and a 200-day moving average of $58.18.

National Fuel Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 3.37%. The ex-dividend date was Monday, September 30th. National Fuel Gas's dividend payout ratio (DPR) is 254.32%.

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.