M&T Bank Corp Sells 962 Shares of National Fuel Gas (NYSE:NFG)

M&T Bank Corp reduced its holdings in National Fuel Gas (NYSE:NFG) by 10.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,541 shares of the oil and gas producer’s stock after selling 962 shares during the period. M&T Bank Corp’s holdings in National Fuel Gas were worth $517,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Gabelli Funds LLC increased its position in National Fuel Gas by 1.0% during the second quarter. Gabelli Funds LLC now owns 2,533,482 shares of the oil and gas producer’s stock worth $137,289,000 after acquiring an additional 24,800 shares during the period. Victory Capital Management Inc. increased its holdings in shares of 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 worth $151,416,000 after purchasing an additional 765,236 shares during the period. Bank of New York Mellon Corp raised its position in shares of National Fuel Gas by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 1,274,893 shares of the oil and gas producer’s stock valued at $69,086,000 after buying an additional 3,816 shares during the last quarter. Equity Investment Corp lifted its stake in shares of National Fuel Gas by 0.4% in the second quarter. Equity Investment Corp now owns 1,246,822 shares of the oil and gas producer’s stock valued at $67,565,000 after buying an additional 4,636 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in National Fuel Gas by 11.2% during the second quarter. Dimensional Fund Advisors LP now owns 930,775 shares of the oil and gas producer’s stock worth $50,441,000 after buying an additional 93,780 shares in the last quarter. 73.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on NFG shares. Scotiabank raised their price objective on National Fuel Gas from $80.00 to $81.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Bank of America started 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 target on the stock. JPMorgan Chase & Co. dropped their price objective on shares of 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. Finally, StockNews.com raised shares of National Fuel Gas from a “sell” rating to a “hold” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $69.00.

National Fuel Gas Trading Down 0.4 %

Shares of NFG stock opened at $60.62 on Wednesday. The company has a market capitalization of $5.51 billion, a P/E ratio of 74.84 and a beta of 0.63. National Fuel Gas has a 12-month low of $45.32 and a 12-month high of $65.06. The company has a quick ratio of 0.25, a current ratio of 0.32 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $61.61 and a 200 day moving average price of $59.20.

National Fuel Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Tuesday, December 31st. National Fuel Gas’s payout ratio is currently 254.32%.

Insiders Place Their Bets

In other news, insider Justin I. Loweth sold 19,532 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $62.27, for a total value of $1,216,257.64. Following the transaction, the insider now owns 41,841 shares of the company’s stock, valued at approximately $2,605,439.07. This trade represents a 31.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donna L. Decarolis sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $62.58, for a total transaction of $625,800.00. Following the sale, the insider now directly owns 81,519 shares of the company’s stock, valued at approximately $5,101,459.02. This trade represents a 10.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,232 shares of company stock valued at $1,945,367. 1.55% of the stock is currently 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.