PNC Financial Services Group Inc. Grows Stock Position in National Fuel Gas (NYSE:NFG)

PNC Financial Services Group Inc. grew its position in shares of National Fuel Gas (NYSE:NFG) by 4.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,619 shares of the oil and gas producer’s stock after purchasing an additional 3,559 shares during the period. PNC Financial Services Group Inc. owned approximately 0.09% of National Fuel Gas worth $4,826,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in National Fuel Gas during the 3rd quarter worth $28,000. V Square Quantitative Management LLC purchased a new stake in shares of National Fuel Gas during the third quarter worth about $29,000. Beacon Capital Management LLC acquired a new position in shares of National Fuel Gas in the first quarter worth about $27,000. Venturi Wealth Management LLC purchased a new position in National Fuel Gas in the third quarter valued at about $35,000. Finally, GAMMA Investing LLC grew its stake in National Fuel Gas by 38.6% during the 3rd quarter. GAMMA Investing LLC now owns 696 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 194 shares in the last quarter. 73.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at National Fuel Gas

In related news, General Counsel Michael W. Reville sold 1,700 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was 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 of the company’s stock, valued at approximately $498,496.31. This trade represents a 17.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.55% of the stock is currently owned by insiders.

National Fuel Gas Stock Up 1.1 %

Shares of NYSE:NFG opened at $64.23 on Friday. The company’s fifty day moving average is $61.02 and its two-hundred day moving average is $58.46. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.25 and a current ratio of 0.32. National Fuel Gas has a 1-year low of $45.32 and a 1-year high of $64.30. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 79.30 and a beta of 0.62.

National Fuel Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.515 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.06 dividend on an annualized basis and a yield of 3.21%. National Fuel Gas’s dividend payout ratio is currently 254.32%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NFG. Argus raised National Fuel Gas to a “strong-buy” rating in a research report on Tuesday, November 19th. Bank of America assumed 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 objective on the stock. StockNews.com raised shares of National Fuel Gas from a “sell” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. cut their target price on shares of 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 lifted their price target on 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently 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.