Oppenheimer Asset Management Inc. Sells 3,187 Shares of National Fuel Gas (NYSE:NFG)

Oppenheimer Asset Management Inc. lessened its position in National Fuel Gas (NYSE:NFG) by 2.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 130,279 shares of the oil and gas producer’s stock after selling 3,187 shares during the period. Oppenheimer Asset Management Inc.’s holdings in National Fuel Gas were worth $7,896,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in National Fuel Gas by 44.2% in 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 acquiring an additional 765,236 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of National Fuel Gas by 159.5% during the second quarter. AQR Capital Management LLC now owns 880,434 shares of the oil and gas producer’s stock valued at $47,711,000 after purchasing an additional 541,176 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of National Fuel Gas by 194.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 378,588 shares of the oil and gas producer’s stock valued at $20,516,000 after buying an additional 249,967 shares during the last quarter. Mackenzie Financial Corp raised its position in National Fuel Gas by 262.5% in the 2nd quarter. Mackenzie Financial Corp now owns 318,078 shares of the oil and gas producer’s stock worth $17,237,000 after buying an additional 230,332 shares during the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in shares of National Fuel Gas during the 2nd quarter valued at about $10,741,000. Hedge funds and other institutional investors own 73.96% of the company’s stock.

Insider Transactions at National Fuel Gas

In other news, General Counsel Michael W. Reville sold 1,700 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $60.77, for a total value of $103,309.00. Following the completion of the sale, the general counsel now directly owns 8,203 shares of the company’s stock, valued at $498,496.31. This represents a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.55% of the company’s stock.

National Fuel Gas Trading Down 0.8 %

Shares of NFG stock opened at $60.42 on Friday. 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 company has a market cap of $5.52 billion, a price-to-earnings ratio of 74.59 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. The firm has a fifty day moving average price of $60.70 and a 200-day moving average price of $58.09.

National Fuel Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Monday, September 30th. National Fuel Gas’s payout ratio is 254.32%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Scotiabank increased their price objective on shares of National Fuel Gas from $80.00 to $81.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Bank of America initiated coverage on National Fuel Gas in a research report on Monday, October 28th. They set an “underperform” rating and a $62.00 price objective for the company. StockNews.com cut National Fuel Gas from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Finally, JPMorgan Chase & Co. reduced 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.

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.