JPMorgan Chase & Co. Sells 858,480 Shares of National Fuel Gas (NYSE:NFG)

JPMorgan Chase & Co. reduced its position in shares of National Fuel Gas (NYSE:NFG - Free Report) by 30.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,985,921 shares of the oil and gas producer's stock after selling 858,480 shares during the period. JPMorgan Chase & Co. owned about 2.19% of National Fuel Gas worth $120,367,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Franklin Resources Inc. boosted its position in National Fuel Gas by 33.3% during the 3rd quarter. Franklin Resources Inc. now owns 220,869 shares of the oil and gas producer's stock worth $13,386,000 after acquiring an additional 55,152 shares during the last quarter. Tidal Investments LLC grew its position in National Fuel Gas by 176.2% in the third quarter. Tidal Investments LLC now owns 21,046 shares of the oil and gas producer's stock valued at $1,276,000 after purchasing an additional 13,425 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in National Fuel Gas in the 3rd quarter valued at $1,052,000. Sanctuary Advisors LLC lifted its position in National Fuel Gas by 9.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 20,246 shares of the oil and gas producer's stock worth $1,300,000 after buying an additional 1,817 shares in the last quarter. Finally, Fortem Financial Group LLC acquired a new position in shares of National Fuel Gas during the 3rd quarter worth about $914,000. 73.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NFG has been the topic of several analyst reports. Argus upgraded National Fuel Gas to a "strong-buy" rating in a report on Tuesday, November 19th. Bank of America initiated coverage on National Fuel Gas in a report on Monday, October 28th. They issued an "underperform" rating and a $62.00 price objective for the company. StockNews.com downgraded shares of National Fuel Gas from a "hold" rating to a "sell" rating in a report on Tuesday, December 24th. Finally, JPMorgan Chase & Co. lowered their price objective 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. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, National Fuel Gas currently has a consensus rating of "Hold" and an average price target of $69.00.

National Fuel Gas Stock Performance

National Fuel Gas stock traded up $0.68 during mid-day trading on Thursday, hitting $61.36. 409,983 shares of the company's stock traded hands, compared to its average volume of 518,647. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 75.75 and a beta of 0.63. The firm has a 50 day simple moving average of $61.34 and a two-hundred day simple moving average of $59.53. National Fuel Gas has a fifty-two week low of $45.32 and a fifty-two week high of $65.06. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.515 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.06 dividend on an annualized basis and a yield of 3.36%. National Fuel Gas's dividend payout ratio (DPR) is currently 254.32%.

Insiders Place Their Bets

In related news, insider Justin I. Loweth sold 19,532 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $62.27, for a total transaction of $1,216,257.64. Following the transaction, the insider now directly owns 41,841 shares of the company's stock, valued at approximately $2,605,439.07. This trade represents a 31.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donna L. Decarolis sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $62.58, for a total transaction of $625,800.00. Following the transaction, the insider now directly owns 81,519 shares in the company, valued at $5,101,459.02. This represents a 10.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.