National Fuel Gas (NYSE:NFG) Stake Lifted by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its position in National Fuel Gas (NYSE:NFG) by 76.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,790 shares of the oil and gas producer’s stock after purchasing an additional 13,739 shares during the period. BNP Paribas Financial Markets’ holdings in National Fuel Gas were worth $1,927,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of National Fuel Gas in the third quarter valued at $28,000. V Square Quantitative Management LLC bought a new stake in National Fuel Gas in the third quarter worth about $29,000. Venturi Wealth Management LLC acquired a new stake in National Fuel Gas in the 3rd quarter valued at about $35,000. Valley National Advisers Inc. bought a new position in shares of National Fuel Gas during the 2nd quarter valued at about $37,000. Finally, GAMMA Investing LLC grew its stake in shares of National Fuel Gas by 38.6% in the 3rd quarter. GAMMA Investing LLC now owns 696 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 194 shares during the last quarter. 73.96% of the stock is currently owned by institutional investors and hedge funds.

National Fuel Gas Price Performance

NFG opened at $61.02 on Friday. The firm has a market capitalization of $5.54 billion, a P/E ratio of 75.33 and a beta of 0.63. The stock has a fifty day moving average of $61.51 and a 200-day moving average of $58.90. The company has a quick ratio of 0.25, a current ratio of 0.32 and a debt-to-equity ratio of 0.77. National Fuel Gas has a 12-month low of $45.32 and a 12-month high of $65.06.

National Fuel Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.38%. National Fuel Gas’s payout ratio is presently 254.32%.

Insider Buying and Selling at National Fuel Gas

In other news, General Counsel Michael W. Reville sold 1,700 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $60.77, for a total transaction of $103,309.00. Following the transaction, the general counsel now directly owns 8,203 shares in the company, valued at $498,496.31. The trade was a 17.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Justin I. Loweth sold 19,532 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $62.27, for a total transaction of $1,216,257.64. Following the completion of the transaction, the insider now directly owns 41,841 shares in the company, valued at $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. Company insiders own 1.55% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. 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. StockNews.com downgraded National Fuel Gas from a “hold” rating to a “sell” rating in a research report on Saturday, November 30th. Scotiabank lifted their target price on National Fuel Gas from $80.00 to $81.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. 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 for the company. Finally, Argus raised National Fuel Gas to a “strong-buy” rating in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $69.00.

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.