Quantbot Technologies LP Grows Stock Position in National Fuel Gas (NYSE:NFG)

Quantbot Technologies LP boosted its holdings in National Fuel Gas (NYSE:NFG) by 1,608.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,972 shares of the oil and gas producer’s stock after buying an additional 6,564 shares during the period. Quantbot Technologies LP’s holdings in National Fuel Gas were worth $423,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NFG. Gabelli Funds LLC grew its holdings in National Fuel Gas by 1.0% in the second quarter. Gabelli Funds LLC now owns 2,533,482 shares of the oil and gas producer’s stock valued at $137,289,000 after purchasing an additional 24,800 shares during the period. Victory Capital Management Inc. increased its stake in National Fuel Gas by 44.2% during the third quarter. Victory Capital Management Inc. now owns 2,498,205 shares of the oil and gas producer’s stock worth $151,416,000 after acquiring an additional 765,236 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of National Fuel Gas by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,274,893 shares of the oil and gas producer’s stock worth $69,086,000 after purchasing an additional 3,816 shares during the period. Equity Investment Corp lifted its stake in shares of National Fuel Gas by 0.4% in the 2nd quarter. Equity Investment Corp now owns 1,246,822 shares of the oil and gas producer’s stock valued at $67,565,000 after purchasing an additional 4,636 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of National Fuel Gas by 11.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 930,775 shares of the oil and gas producer’s stock valued at $50,441,000 after purchasing an additional 93,780 shares in the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Michael W. Reville sold 1,700 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $60.77, for a total value of $103,309.00. Following the sale, the general counsel now owns 8,203 shares in the company, valued at approximately $498,496.31. This represents a 17.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Justin I. Loweth sold 19,532 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $62.27, for a total transaction of $1,216,257.64. Following the transaction, the insider now directly owns 41,841 shares in the company, valued at $2,605,439.07. The trade was a 31.83 % decrease in their position. The disclosure for this sale can be found here. 1.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NFG shares. Bank of America began coverage on shares of National Fuel Gas in a report on Monday, October 28th. They issued an “underperform” rating and a $62.00 price target on the stock. StockNews.com lowered shares of National Fuel Gas from a “hold” rating to a “sell” rating in a report on Saturday. Argus upgraded National Fuel Gas to a “strong-buy” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. reduced their price objective on National Fuel Gas from $65.00 to $64.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 12th. Finally, Scotiabank increased their target price on National Fuel Gas from $80.00 to $81.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $69.00.

National Fuel Gas Stock Performance

Shares of NFG stock opened at $62.67 on Wednesday. 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’s fifty day moving average price is $61.36 and its two-hundred day moving average price is $58.77. The firm has a market capitalization of $5.69 billion, a P/E ratio of 77.37 and a beta of 0.63. National Fuel Gas has a 12 month low of $45.32 and a 12 month high of $65.06.

National Fuel Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Monday, September 30th. National Fuel Gas’s dividend payout ratio is currently 254.32%.

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.