National Fuel Gas (NYSE:NFG) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its holdings in shares of National Fuel Gas (NYSE:NFG) by 30.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,300 shares of the oil and gas producer’s stock after selling 52,983 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.13% of National Fuel Gas worth $7,291,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. increased its stake in shares of National Fuel Gas by 53.9% during the third quarter. Advisors Asset Management Inc. now owns 21,451 shares of the oil and gas producer’s stock worth $1,300,000 after purchasing an additional 7,510 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in National Fuel Gas by 4.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 79,619 shares of the oil and gas producer’s stock worth $4,826,000 after buying an additional 3,559 shares in the last quarter. Legacy Bridge LLC acquired a new position in shares of National Fuel Gas during the third quarter valued at approximately $1,066,000. Meeder Asset Management Inc. purchased a new position in shares of National Fuel Gas in the third quarter valued at approximately $2,399,000. Finally, Natixis Advisors LLC boosted its stake in shares of National Fuel Gas by 14.3% in the third quarter. Natixis Advisors LLC now owns 51,333 shares of the oil and gas producer’s stock worth $3,111,000 after acquiring an additional 6,435 shares during the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.

Analyst Upgrades and Downgrades

NFG has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price objective on 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. Argus upgraded shares of National Fuel Gas to a “strong-buy” rating in a research report on Tuesday, November 19th. StockNews.com upgraded shares of National Fuel Gas from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Scotiabank increased their price objective on shares of National Fuel Gas from $80.00 to $81.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Bank of America initiated coverage on National Fuel Gas in a report on Monday, October 28th. They set an “underperform” rating and a $62.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $69.00.

Insider Buying and Selling

In other National Fuel Gas 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 transaction, the general counsel now owns 8,203 shares of the company’s stock, valued at $498,496.31. This represents a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.55% of the stock is currently owned by company insiders.

National Fuel Gas Price Performance

Shares of NFG stock opened at $63.38 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 has a market capitalization of $5.79 billion, a PE ratio of 78.31 and a beta of 0.62. The firm’s 50-day moving average is $61.08 and its two-hundred day moving average is $58.53. 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 disclosed 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 3.25%. The ex-dividend date of this dividend was Monday, September 30th. 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.