National Fuel Gas (NYSE:NFG) Stock Holdings Cut by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its position in shares of National Fuel Gas (NYSE:NFG) by 30.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,985,921 shares of the oil and gas producer’s stock after selling 858,480 shares during the quarter. JPMorgan Chase & Co.’s holdings in National Fuel Gas were worth $120,367,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its stake in National Fuel Gas by 29.9% during the second quarter. Commonwealth Equity Services LLC now owns 105,975 shares of the oil and gas producer’s stock valued at $5,743,000 after purchasing an additional 24,374 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of National Fuel Gas by 34.2% during the 2nd quarter. Natixis Advisors LLC now owns 44,898 shares of the oil and gas producer’s stock worth $2,433,000 after acquiring an additional 11,437 shares in the last quarter. Foster & Motley Inc. grew its holdings in shares of National Fuel Gas by 15.4% in the 2nd quarter. Foster & Motley Inc. now owns 18,361 shares of the oil and gas producer’s stock worth $995,000 after acquiring an additional 2,447 shares during the last quarter. Chase Investment Counsel Corp raised its position in shares of National Fuel Gas by 16.9% during the second quarter. Chase Investment Counsel Corp now owns 8,050 shares of the oil and gas producer’s stock worth $471,000 after purchasing an additional 1,166 shares during the period. Finally, Horizon Investment Services LLC purchased a new stake in shares of National Fuel Gas during the second quarter valued at $300,000. Institutional investors own 73.96% of the company’s stock.

National Fuel Gas Price Performance

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 price-to-earnings ratio of 74.91 and a beta of 0.63. The company has a 50 day simple moving average of $61.37 and a 200-day simple moving average of $59.52. National Fuel Gas has a 52-week low of $45.32 and a 52-week high of $65.06.

National Fuel Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Tuesday, December 31st. National Fuel Gas’s dividend payout ratio (DPR) is currently 254.32%.

Wall Street Analysts Forecast Growth

NFG has been the topic of a number of analyst reports. Argus raised National Fuel Gas to a “strong-buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. cut 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 report on Tuesday, November 12th. Bank of America began coverage on shares of National Fuel Gas in a research note on Monday, October 28th. They issued an “underperform” rating and a $62.00 price objective for the company. Finally, StockNews.com downgraded shares of National Fuel Gas from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th. Two equities 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.com, the company currently has an average rating of “Hold” and an average price target of $69.00.

Insider Activity

In other National Fuel Gas news, insider Donna L. Decarolis sold 10,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $62.58, for a total value of $625,800.00. Following the transaction, the insider now owns 81,519 shares in the company, valued at $5,101,459.02. The trade was a 10.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Justin I. Loweth sold 19,532 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $62.27, for a total value of $1,216,257.64. Following the completion of the transaction, the insider now directly owns 41,841 shares in the company, valued at approximately $2,605,439.07. The trade was a 31.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.55% of the stock is currently owned by corporate insiders.

About National Fuel Gas

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.