Victory Capital Management Inc. boosted its stake in shares of National Fuel Gas (NYSE:NFG - Free Report) by 44.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,498,205 shares of the oil and gas producer's stock after buying an additional 765,236 shares during the period. Victory Capital Management Inc. owned 2.73% of National Fuel Gas worth $151,416,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in National Fuel Gas by 38.6% in the third quarter. GAMMA Investing LLC now owns 696 shares of the oil and gas producer's stock worth $42,000 after acquiring an additional 194 shares during the period. Cullen Investment Group LTD. increased its position in shares of National Fuel Gas by 0.7% during the 3rd quarter. Cullen Investment Group LTD. now owns 30,021 shares of the oil and gas producer's stock worth $1,820,000 after purchasing an additional 202 shares during the last quarter. HBK Sorce Advisory LLC raised its holdings in National Fuel Gas by 1.0% in the 1st quarter. HBK Sorce Advisory LLC now owns 21,743 shares of the oil and gas producer's stock valued at $1,168,000 after buying an additional 225 shares during the period. Financial Advocates Investment Management lifted its position in National Fuel Gas by 6.2% in the second quarter. Financial Advocates Investment Management now owns 4,182 shares of the oil and gas producer's stock valued at $227,000 after buying an additional 243 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in National Fuel Gas by 0.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 53,460 shares of the oil and gas producer's stock worth $2,873,000 after buying an additional 244 shares during the period. Institutional investors and hedge funds own 73.96% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on NFG shares. StockNews.com cut National Fuel Gas from a "hold" rating to a "sell" rating in a report on Saturday, October 19th. Bank of America began coverage on shares of National Fuel Gas in a research note on Monday, October 28th. They set an "underperform" rating and a $62.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on shares of National Fuel Gas from $65.00 to $64.00 and set a "neutral" rating for the company in a research report on Tuesday. Finally, Scotiabank upped their price objective on National Fuel Gas from $80.00 to $81.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, August 20th.
Get Our Latest Report on NFG
Insider Transactions at National Fuel Gas
In related news, General Counsel Michael W. Reville sold 1,700 shares of the business's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $60.77, for a total value of $103,309.00. Following the transaction, the general counsel now owns 8,203 shares in the company, valued at $498,496.31. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.55% of the company's stock.
National Fuel Gas Stock Down 0.6 %
Shares of NYSE:NFG traded down $0.34 on Wednesday, hitting $60.93. 529,302 shares of the company's stock were exchanged, compared to its average volume of 524,236. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.25 and a current ratio of 0.32. The firm's 50-day moving average is $60.68 and its 200 day moving average is $58.08. The company has a market capitalization of $5.57 billion, a PE ratio of 75.22 and a beta of 0.62. National Fuel Gas has a 1-year low of $45.32 and a 1-year high of $63.54.
National Fuel Gas Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Monday, September 30th. National Fuel Gas's payout ratio is currently 254.32%.
National Fuel Gas Profile
(
Free Report)
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.
Further Reading
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