Connor Clark & Lunn Investment Management Ltd. Has $467,000 Stake in National Fuel Gas (NYSE:NFG)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in National Fuel Gas (NYSE:NFG) by 70.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,702 shares of the oil and gas producer’s stock after selling 18,129 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in National Fuel Gas were worth $467,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in National Fuel Gas in the third quarter valued at approximately $28,000. V Square Quantitative Management LLC acquired a new stake in shares of National Fuel Gas during the 3rd quarter valued at $29,000. Venturi Wealth Management LLC bought a new stake in National Fuel Gas during the 3rd quarter worth $35,000. GAMMA Investing LLC increased its holdings in National Fuel Gas by 38.6% in the 3rd quarter. GAMMA Investing LLC now owns 696 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 194 shares in the last quarter. Finally, Valley National Advisers Inc. bought a new position in National Fuel Gas in the second quarter valued at about $37,000. 73.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, General Counsel Michael W. Reville sold 1,700 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $60.77, for a total transaction of $103,309.00. Following the sale, the general counsel now owns 8,203 shares in the company, valued at $498,496.31. This represents a 17.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.55% of the stock is owned by insiders.

National Fuel Gas Stock Performance

Shares of NFG stock opened at $63.96 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. National Fuel Gas has a one year low of $45.32 and a one year high of $65.06. The business’s 50 day simple moving average is $61.26 and its 200 day simple moving average is $58.64. The stock has a market capitalization of $5.81 billion, a PE ratio of 78.96 and a beta of 0.62.

National Fuel Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Monday, September 30th. National Fuel Gas’s dividend payout ratio (DPR) is presently 254.32%.

Wall Street Analysts Forecast Growth

NFG has been the topic of several research reports. JPMorgan Chase & Co. reduced their price target on National Fuel Gas from $65.00 to $64.00 and set a “neutral” rating on the stock in a report on Tuesday, November 12th. StockNews.com lowered shares of National Fuel Gas from a “hold” rating to a “sell” rating in a report on Saturday. 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 price target for the company. Scotiabank lifted 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 report on Tuesday, August 20th. Finally, Argus upgraded National Fuel Gas to a “strong-buy” rating in a report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has assigned 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.

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.