JPMorgan Chase & Co. Trims Stock Holdings in National Fuel Gas (NYSE:NFG)

JPMorgan Chase & Co. cut its holdings in shares of National Fuel Gas (NYSE:NFG) by 30.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,985,921 shares of the oil and gas producer’s stock after selling 858,480 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.19% of National Fuel Gas worth $120,367,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. grew its position in shares of 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 buying an additional 765,236 shares in the last quarter. AQR Capital Management LLC grew its stake in National Fuel Gas by 159.5% in the second quarter. AQR Capital Management LLC now owns 880,434 shares of the oil and gas producer’s stock worth $47,711,000 after purchasing an additional 541,176 shares in the last quarter. Mackenzie Financial Corp increased its holdings in National Fuel Gas by 262.5% in the second quarter. Mackenzie Financial Corp now owns 318,078 shares of the oil and gas producer’s stock valued at $17,237,000 after buying an additional 230,332 shares during the last quarter. Great Lakes Advisors LLC acquired a new stake in National Fuel Gas during the second quarter valued at approximately $10,741,000. Finally, Massachusetts Financial Services Co. MA raised its stake in National Fuel Gas by 261.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 173,283 shares of the oil and gas producer’s stock valued at $9,390,000 after buying an additional 125,336 shares in the last quarter. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at National Fuel Gas

In other news, insider Justin I. Loweth sold 19,532 shares of the firm’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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donna L. Decarolis sold 10,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $62.58, for a total transaction of $625,800.00. Following the completion of the sale, the insider now directly owns 81,519 shares of the company’s stock, valued at $5,101,459.02. The trade was a 10.93 % decrease in their position. The disclosure for this sale can be found here. 1.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NFG shares. Argus upgraded National Fuel Gas to a “strong-buy” rating in a report on Tuesday, November 19th. Bank of America started 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 for the company. JPMorgan Chase & Co. reduced their price target on shares of National Fuel Gas from $65.00 to $64.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 12th. Finally, StockNews.com lowered shares of National Fuel Gas from a “hold” rating to a “sell” rating in a report on Tuesday, December 24th. Two analysts have rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $69.00.

National Fuel Gas Price Performance

Shares of NYSE NFG opened at $60.68 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.32 and a quick ratio of 0.25. The firm has a market capitalization of $5.51 billion, a PE ratio of 74.91 and a beta of 0.63. National Fuel Gas has a 1-year low of $45.32 and a 1-year high of $65.06. The business’s fifty day moving average price is $61.37 and its two-hundred day moving average price is $59.52.

National Fuel Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.515 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.06 annualized dividend and a yield of 3.39%. National Fuel Gas’s dividend payout ratio is presently 254.32%.

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.