Geode Capital Management LLC Has $134.45 Million Position in National Fuel Gas (NYSE:NFG)

Geode Capital Management LLC reduced its holdings in National Fuel Gas (NYSE:NFG - Free Report) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,082,436 shares of the oil and gas producer's stock after selling 45,811 shares during the quarter. Geode Capital Management LLC owned 2.28% of National Fuel Gas worth $134,454,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in National Fuel Gas in the second quarter worth approximately $221,000. Blue Trust Inc. boosted its stake in shares of National Fuel Gas by 331.6% during the 2nd quarter. Blue Trust Inc. now owns 1,161 shares of the oil and gas producer's stock worth $62,000 after acquiring an additional 892 shares in the last quarter. Raymond James & Associates increased its holdings in shares of National Fuel Gas by 3.4% during the 2nd quarter. Raymond James & Associates now owns 71,036 shares of the oil and gas producer's stock valued at $3,849,000 after acquiring an additional 2,320 shares during the last quarter. Summit Global Investments increased its holdings in shares of National Fuel Gas by 1.6% during the 2nd quarter. Summit Global Investments now owns 26,714 shares of the oil and gas producer's stock valued at $1,448,000 after acquiring an additional 413 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its stake in shares of National Fuel Gas by 11.5% in the 2nd quarter. Hennessy Advisors Inc. now owns 92,024 shares of the oil and gas producer's stock valued at $4,987,000 after acquiring an additional 9,500 shares in the last quarter. Institutional investors and hedge funds own 73.96% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NFG shares. JPMorgan Chase & Co. cut their price objective on National Fuel Gas from $65.00 to $64.00 and set a "neutral" rating for the company in a research report on Tuesday, November 12th. Scotiabank increased their price objective on 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. Bank of America initiated coverage on shares of National Fuel Gas in a research report on Monday, October 28th. They set an "underperform" rating and a $62.00 target price on the stock. Argus raised shares of National Fuel Gas to a "strong-buy" rating in a report on Tuesday, November 19th. Finally, StockNews.com upgraded shares of National Fuel Gas from a "sell" rating to a "hold" rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, National Fuel Gas currently has an average rating of "Hold" and a consensus price target of $69.00.

National Fuel Gas Trading Down 0.4 %

NYSE NFG traded down $0.25 during trading hours on Tuesday, hitting $60.62. The company's stock had a trading volume of 671,657 shares, compared to its average volume of 517,589. National Fuel Gas has a twelve month low of $45.32 and a twelve month high of $65.06. The firm has a market capitalization of $5.51 billion, a P/E ratio of 74.84 and a beta of 0.63. The company has a quick ratio of 0.25, a current ratio of 0.32 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average of $61.61 and a 200 day moving average of $59.20.

National Fuel Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.06 annualized dividend and a yield of 3.40%. National Fuel Gas's dividend payout ratio is presently 254.32%.

Insider Buying and Selling at National Fuel Gas

In related news, insider Donna L. Decarolis sold 10,000 shares of the company's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $62.58, for a total value of $625,800.00. Following the completion of the transaction, the insider now directly owns 81,519 shares of the company's stock, valued at approximately $5,101,459.02. This represents a 10.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Justin I. Loweth sold 19,532 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $62.27, for a total value of $1,216,257.64. Following the completion of the sale, the insider now owns 41,841 shares in the company, valued at approximately $2,605,439.07. This trade represents a 31.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,232 shares of company stock valued at $1,945,367. Company insiders own 1.55% of the company's stock.

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.