National Fuel Gas (NYSE:NFG) Shares Sold by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. reduced its holdings in shares of National Fuel Gas (NYSE:NFG) by 38.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 40,850 shares of the oil and gas producer’s stock after selling 25,720 shares during the period. Cutter & CO Brokerage Inc.’s holdings in National Fuel Gas were worth $2,214,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of NFG. Norges Bank purchased a new position in shares of National Fuel Gas during the fourth quarter worth about $49,804,000. Equity Investment Corp grew its position in National Fuel Gas by 27.7% in the 1st quarter. Equity Investment Corp now owns 1,242,186 shares of the oil and gas producer’s stock valued at $66,730,000 after buying an additional 269,441 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in National Fuel Gas by 194.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 378,588 shares of the oil and gas producer’s stock valued at $20,516,000 after buying an additional 249,967 shares during the period. Thompson Siegel & Walmsley LLC raised its position in National Fuel Gas by 22.9% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,042,509 shares of the oil and gas producer’s stock worth $52,302,000 after buying an additional 193,910 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in shares of National Fuel Gas in the 4th quarter worth $8,251,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NFG shares. StockNews.com lowered shares of National Fuel Gas from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Scotiabank increased their target price 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.

National Fuel Gas Price Performance

NFG stock traded up $0.39 during midday trading on Friday, hitting $59.76. 350,077 shares of the stock were exchanged, compared to its average volume of 436,116. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.65 and a current ratio of 0.77. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 11.86 and a beta of 0.62. National Fuel Gas has a fifty-two week low of $45.32 and a fifty-two week high of $59.96. The stock’s 50-day moving average price is $57.39 and its 200-day moving average price is $54.71.

National Fuel Gas (NYSE:NFG) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.99 EPS for the quarter, topping the consensus estimate 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 business had revenue of $417.40 million for the quarter, compared to analyst estimates of $540.62 million. During the same period in the previous year, the firm earned $1.01 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. Research analysts predict that National Fuel Gas will post 5.21 earnings per share for the current year.

National Fuel Gas Increases Dividend

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

Insider Activity 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 on Friday, June 21st. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.55% of the stock is owned by corporate insiders.

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.