Highland Capital Management LLC Acquires New Position in National Fuel Gas (NYSE:NFG)

Highland Capital Management LLC purchased a new position in shares of National Fuel Gas (NYSE:NFG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,911 shares of the oil and gas producer's stock, valued at approximately $237,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Victory Capital Management Inc. raised its position in National Fuel Gas by 44.2% during the third quarter. Victory Capital Management Inc. now owns 2,498,205 shares of the oil and gas producer's stock worth $151,416,000 after acquiring an additional 765,236 shares in the last quarter. Ibex Wealth Advisors bought a new stake in shares of National Fuel Gas in the 4th quarter valued at about $4,943,000. Barclays PLC raised its holdings in shares of National Fuel Gas by 243.7% in the 3rd quarter. Barclays PLC now owns 102,672 shares of the oil and gas producer's stock valued at $6,223,000 after purchasing an additional 72,802 shares during the period. Franklin Resources Inc. lifted its stake in National Fuel Gas by 33.3% in the 3rd quarter. Franklin Resources Inc. now owns 220,869 shares of the oil and gas producer's stock valued at $13,386,000 after purchasing an additional 55,152 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in National Fuel Gas during the third quarter worth about $2,399,000. Institutional investors own 73.96% of the company's stock.

Insider Activity at National Fuel Gas

In other National Fuel Gas news, insider Donna L. Decarolis sold 10,000 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 81,519 shares in the company, valued at $5,101,459.02. This trade represents a 10.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Justin I. Loweth sold 19,532 shares of the firm's stock in a transaction on 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 sale, the insider now directly owns 41,841 shares in the company, valued at approximately $2,605,439.07. This trade represents a 31.83 % decrease in their position. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

National Fuel Gas Stock Performance

NFG stock traded up $0.18 during trading hours on Tuesday, hitting $72.09. 328,647 shares of the stock were exchanged, compared to its average volume of 694,125. National Fuel Gas has a 12 month low of $45.32 and a 12 month high of $73.13. The company has a current ratio of 0.39, a quick ratio of 0.33 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $6.53 billion, a P/E ratio of -515.06 and a beta of 0.64. The company has a 50-day simple moving average of $63.63 and a two-hundred day simple moving average of $61.34.

National Fuel Gas (NYSE:NFG - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.22. National Fuel Gas had a negative net margin of 0.53% and a positive return on equity of 15.96%. During the same period in the previous year, the business posted $1.46 earnings per share. On average, analysts forecast that National Fuel Gas will post 6.64 earnings per share for the current fiscal year.

National Fuel Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.515 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.06 annualized dividend and a dividend yield of 2.86%. National Fuel Gas's dividend payout ratio is -1,471.32%.

National Fuel Gas Company 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.