Cornercap Investment Counsel Inc. Decreases Holdings in National Fuel Gas (NYSE:NFG)

Cornercap Investment Counsel Inc. trimmed its holdings in shares of National Fuel Gas (NYSE:NFG) by 55.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,888 shares of the oil and gas producer’s stock after selling 11,209 shares during the period. Cornercap Investment Counsel Inc.’s holdings in National Fuel Gas were worth $539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Victory Capital Management Inc. lifted its holdings in shares of National Fuel Gas by 44.2% in 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 during the last quarter. AQR Capital Management LLC lifted its holdings 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 during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 purchasing an additional 249,967 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of National Fuel Gas by 262.5% in the 2nd quarter. Mackenzie Financial Corp now owns 318,078 shares of the oil and gas producer’s stock valued at $17,237,000 after purchasing an additional 230,332 shares during the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in shares of National Fuel Gas in the 2nd quarter valued at about $10,741,000. 73.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on NFG shares. Bank of America started coverage on National Fuel Gas in a report on Monday, October 28th. They issued an “underperform” rating and a $62.00 target price for the company. Scotiabank boosted their target price on National Fuel Gas from $80.00 to $81.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. 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. Finally, StockNews.com downgraded National Fuel Gas from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th.

National Fuel Gas Stock Performance

NYSE NFG opened at $61.08 on Friday. 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 business’s 50 day moving average is $60.75 and its two-hundred day moving average is $58.18. National Fuel Gas has a 12-month low of $45.32 and a 12-month high of $63.54. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 75.41 and a beta of 0.62.

National Fuel Gas Dividend Announcement

The company also recently declared 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 dividend yield of 3.37%. The ex-dividend date was Monday, September 30th. National Fuel Gas’s dividend payout ratio is currently 254.32%.

Insider Buying and Selling

In related news, General Counsel Michael W. Reville sold 1,700 shares of the company’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 in the company, valued at $498,496.31. This represents a 17.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.55% of the company’s stock.

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.