National Fuel Gas (NYSE:NFG) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC lessened its position in National Fuel Gas (NYSE:NFG) by 96.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,733 shares of the oil and gas producer’s stock after selling 175,419 shares during the period. Verition Fund Management LLC’s holdings in National Fuel Gas were worth $347,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NFG. Daiwa Securities Group Inc. grew its stake in National Fuel Gas by 12.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,698 shares of the oil and gas producer’s stock worth $467,000 after acquiring an additional 859 shares during the period. Empowered Funds LLC acquired a new stake in shares of National Fuel Gas during the third quarter worth $1,277,000. BNP Paribas Financial Markets grew its position in shares of National Fuel Gas by 76.1% in the third quarter. BNP Paribas Financial Markets now owns 31,790 shares of the oil and gas producer’s stock valued at $1,927,000 after purchasing an additional 13,739 shares during the period. Evergreen Capital Management LLC acquired a new position in National Fuel Gas in the second quarter valued at $718,000. Finally, Legacy Bridge LLC purchased a new position in National Fuel Gas during the third quarter worth about $1,066,000. Institutional investors and hedge funds own 73.96% of the company’s stock.

Insider Activity at National Fuel Gas

In related news, insider Donna L. Decarolis sold 10,000 shares of the firm’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 sale, the insider now directly owns 81,519 shares in the company, valued at approximately $5,101,459.02. This trade represents a 10.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Michael W. Reville sold 1,700 shares of the business’s stock in a transaction that occurred on 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 directly owns 8,203 shares in the company, valued at $498,496.31. This trade represents a 17.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,232 shares of company stock worth $1,945,367. 1.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on NFG. Bank of America started coverage on National Fuel Gas in a report on Monday, October 28th. They issued an “underperform” rating and a $62.00 price target for the company. Scotiabank upped 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 report on Tuesday, August 20th. StockNews.com downgraded shares of National Fuel Gas from a “hold” rating to a “sell” rating in a research note on Saturday, November 30th. JPMorgan Chase & Co. lowered their price objective 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. Finally, Argus raised National Fuel Gas to a “strong-buy” rating in a research report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $69.00.

National Fuel Gas Trading Up 1.0 %

NYSE NFG opened at $61.39 on Friday. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 75.78 and a beta of 0.63. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.25 and a current ratio of 0.32. National Fuel Gas has a one year low of $45.32 and a one year high of $65.06. The company’s 50 day moving average price is $61.58 and its 200 day moving average price is $59.08.

National Fuel Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Tuesday, December 31st. National Fuel Gas’s dividend payout ratio is presently 254.32%.

National Fuel Gas Company 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.