National Fuel Gas (NYSE:NFG) Shares Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd grew its holdings in shares of National Fuel Gas (NYSE:NFG) by 72.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,961 shares of the oil and gas producer’s stock after acquiring an additional 5,846 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in National Fuel Gas were worth $846,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Victory Capital Management Inc. grew its stake in National Fuel Gas by 44.2% during the 3rd quarter. Victory Capital Management Inc. now owns 2,498,205 shares of the oil and gas producer’s stock valued at $151,416,000 after purchasing an additional 765,236 shares in the last quarter. AQR Capital Management LLC raised its position in shares of National Fuel Gas by 159.5% in the 2nd quarter. AQR Capital Management LLC now owns 880,434 shares of the oil and gas producer’s stock valued at $47,711,000 after purchasing an additional 541,176 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of National Fuel Gas by 194.3% during 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 last quarter. Mackenzie Financial Corp grew its position in shares of National Fuel Gas by 262.5% during the second quarter. Mackenzie Financial Corp now owns 318,078 shares of the oil and gas producer’s stock worth $17,237,000 after buying an additional 230,332 shares in the last quarter. Finally, Great Lakes Advisors LLC bought a new stake in shares of National Fuel Gas in the second quarter worth $10,741,000. 73.96% of the stock is owned by hedge funds and other institutional investors.

National Fuel Gas Trading Up 0.1 %

Shares of NYSE:NFG opened at $63.43 on Thursday. The company has a 50 day moving average of $61.13 and a 200-day moving average of $58.57. The company has a current ratio of 0.32, a quick ratio of 0.25 and a debt-to-equity ratio of 0.77. The firm has a market cap of $5.76 billion, a P/E ratio of 78.31 and a beta of 0.62. National Fuel Gas has a twelve month low of $45.32 and a twelve month high of $65.06.

National Fuel Gas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.515 per share. 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 payout ratio is currently 254.32%.

Insider Activity

In other news, General Counsel Michael W. Reville sold 1,700 shares of the company’s stock in a transaction 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 completion of the sale, the general counsel now owns 8,203 shares in the company, valued at $498,496.31. This represents a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Bank of America started coverage on shares of National Fuel Gas in a report on Monday, October 28th. They set an “underperform” rating and a $62.00 price objective for the company. 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. Argus upgraded National Fuel Gas to a “strong-buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. decreased their target price on National Fuel Gas from $65.00 to $64.00 and set a “neutral” rating for the company in a research report on Tuesday, November 12th. Finally, StockNews.com raised National Fuel Gas from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $69.00.

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.