Oppenheimer Asset Management Inc. Reduces Position in National Fuel Gas (NYSE:NFG)

Oppenheimer Asset Management Inc. trimmed its position in National Fuel Gas (NYSE:NFG) by 2.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 130,279 shares of the oil and gas producer’s stock after selling 3,187 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.14% of National Fuel Gas worth $7,896,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MQS Management LLC increased its position in shares of National Fuel Gas by 2.0% in the third quarter. MQS Management LLC now owns 8,631 shares of the oil and gas producer’s stock valued at $523,000 after acquiring an additional 166 shares during the period. Chase Investment Counsel Corp grew its stake in shares of National Fuel Gas by 6.6% in the third quarter. Chase Investment Counsel Corp now owns 7,991 shares of the oil and gas producer’s stock worth $484,000 after purchasing an additional 495 shares during the last quarter. Victory Capital Management Inc. increased its holdings in National Fuel Gas by 44.2% during the 3rd quarter. Victory Capital Management Inc. now owns 2,498,205 shares of the oil and gas producer’s stock valued at $151,416,000 after purchasing an additional 765,236 shares during the period. Barnett & Company Inc. raised its position in National Fuel Gas by 10.1% during the 3rd quarter. Barnett & Company Inc. now owns 51,442 shares of the oil and gas producer’s stock valued at $3,118,000 after purchasing an additional 4,700 shares during the last quarter. Finally, First Heartland Consultants Inc. bought a new stake in shares of National Fuel Gas in the 3rd quarter worth approximately $295,000. 73.96% of the stock is currently owned by institutional investors.

National Fuel Gas Stock Performance

Shares of National Fuel Gas stock opened at $60.42 on Friday. The business has a fifty day simple moving average of $60.70 and a two-hundred day simple moving average of $58.09. The firm has a market capitalization of $5.52 billion, a P/E ratio of 74.59 and a beta of 0.62. The company has a current ratio of 0.32, a quick ratio of 0.25 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 $63.54.

National Fuel Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 3.41%. The ex-dividend date was Monday, September 30th. National Fuel Gas’s payout ratio is currently 254.32%.

Insiders Place Their Bets

In other news, General Counsel Michael W. Reville sold 1,700 shares of National Fuel Gas stock in a transaction that occurred 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 completion of the transaction, the general counsel now directly owns 8,203 shares in the company, valued at approximately $498,496.31. This trade represents a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NFG. StockNews.com cut shares of National Fuel Gas from a “hold” rating to a “sell” rating in a report on Saturday, October 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 on the stock in a research note on Tuesday. Scotiabank increased their price target on shares of National Fuel Gas from $80.00 to $81.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, Bank of America assumed coverage on shares of National Fuel Gas in a report on Monday, October 28th. They issued an “underperform” rating and a $62.00 price objective for the company.

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.