Picton Mahoney Asset Management Purchases Shares of 2,995 National Fuel Gas (NYSE:NFG)

Picton Mahoney Asset Management purchased a new stake in shares of National Fuel Gas (NYSE:NFG) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,995 shares of the oil and gas producer’s stock, valued at approximately $162,000.

Several other institutional investors have also added to or reduced their stakes in the business. GSA Capital Partners LLP bought a new position in shares of National Fuel Gas during the first quarter valued at about $1,748,000. Wells Fargo & Company MN raised its stake in shares of National Fuel Gas by 8.3% during the fourth quarter. Wells Fargo & Company MN now owns 263,689 shares of the oil and gas producer’s stock valued at $13,229,000 after acquiring an additional 20,203 shares during the last quarter. Equity Investment Corp raised its stake in shares of National Fuel Gas by 27.7% during the first quarter. Equity Investment Corp now owns 1,242,186 shares of the oil and gas producer’s stock valued at $66,730,000 after acquiring an additional 269,441 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of National Fuel Gas by 478.8% during the first quarter. BNP Paribas Financial Markets now owns 86,567 shares of the oil and gas producer’s stock valued at $4,650,000 after acquiring an additional 71,612 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of National Fuel Gas by 12.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 130,375 shares of the oil and gas producer’s stock valued at $7,004,000 after acquiring an additional 14,604 shares during the last quarter. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at National Fuel Gas

In other National Fuel Gas news, General Counsel Michael W. Reville sold 6,357 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $54.83, for a total transaction of $348,554.31. Following the completion of the transaction, the general counsel now owns 9,903 shares of the company’s stock, valued at $542,981.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.55% of the company’s stock.

National Fuel Gas Price Performance

NFG stock opened at $59.76 on Monday. National Fuel Gas has a 1 year low of $45.32 and a 1 year high of $59.96. The company has a market cap of $5.46 billion, a P/E ratio of 11.86 and a beta of 0.62. The firm has a 50-day moving average of $57.39 and a 200 day moving average of $54.76. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.77 and a quick ratio of 0.65.

National Fuel Gas (NYSE:NFG) last released its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. National Fuel Gas had a net margin of 16.42% and a return on equity of 14.80%. The company had revenue of $417.40 million during the quarter, compared to the consensus estimate of $540.62 million. During the same period in the prior year, the firm earned $1.01 earnings per share. National Fuel Gas’s revenue was down 2.6% on a year-over-year basis. On average, sell-side analysts forecast that National Fuel Gas will post 5.21 EPS for the current year.

National Fuel Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.515 per share. This is an increase from National Fuel Gas’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, June 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.45%. National Fuel Gas’s dividend payout ratio (DPR) is currently 40.87%.

Analyst Ratings Changes

Several equities analysts have recently commented on NFG shares. StockNews.com downgraded shares of National Fuel Gas from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Scotiabank increased 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 note on Tuesday, August 20th.

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.