Martingale Asset Management L P Sells 83,500 Shares of National Fuel Gas Co. (NFG)

Martingale Asset Management L P trimmed its position in National Fuel Gas Co. (NYSE:NFG) by 88.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,031 shares of the oil and gas producer’s stock after selling 83,500 shares during the quarter. Martingale Asset Management L P’s holdings in National Fuel Gas were worth $565,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. State of Tennessee Treasury Department raised its stake in National Fuel Gas by 12.9% during the fourth quarter. State of Tennessee Treasury Department now owns 163,562 shares of the oil and gas producer’s stock worth $8,371,000 after acquiring an additional 18,731 shares in the last quarter. Advisor Group Inc. raised its stake in National Fuel Gas by 5.0% during the fourth quarter. Advisor Group Inc. now owns 16,916 shares of the oil and gas producer’s stock worth $867,000 after acquiring an additional 805 shares in the last quarter. Rafferty Asset Management LLC raised its stake in National Fuel Gas by 110.7% during the fourth quarter. Rafferty Asset Management LLC now owns 12,674 shares of the oil and gas producer’s stock worth $649,000 after acquiring an additional 6,659 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of National Fuel Gas by 129.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 26,038 shares of the oil and gas producer’s stock worth $1,333,000 after purchasing an additional 14,712 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of National Fuel Gas by 6.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 35,832 shares of the oil and gas producer’s stock worth $1,833,000 after purchasing an additional 2,306 shares during the last quarter. Institutional investors and hedge funds own 73.25% of the company’s stock.

Several analysts have recently commented on the company. Zacks Investment Research upgraded National Fuel Gas from a “sell” rating to a “hold” rating in a report on Friday, February 8th. ValuEngine upgraded National Fuel Gas from a “sell” rating to a “hold” rating in a report on Wednesday, November 21st. Finally, TheStreet upgraded National Fuel Gas from a “c+” rating to a “b” rating in a report on Monday, December 10th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. National Fuel Gas presently has a consensus rating of “Hold” and a consensus price target of $66.00.



National Fuel Gas stock opened at $60.42 on Friday. The stock has a market capitalization of $5.22 billion, a P/E ratio of 18.09, a PEG ratio of 6.16 and a beta of 0.88. National Fuel Gas Co. has a 12-month low of $49.60 and a 12-month high of $60.89. The company has a current ratio of 1.25, a quick ratio of 1.09 and a debt-to-equity ratio of 1.04.

National Fuel Gas (NYSE:NFG) last released its earnings results on Thursday, January 31st. The oil and gas producer reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.05. National Fuel Gas had a return on equity of 15.26% and a net margin of 17.77%. The firm had revenue of $490.25 million for the quarter, compared to analyst estimates of $477.76 million. As a group, equities analysts predict that National Fuel Gas Co. will post 3.51 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Thursday, March 28th. National Fuel Gas’s payout ratio is 50.90%.

In other news, VP Paula M. Ciprich sold 10,227 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $60.42, for a total transaction of $617,915.34. Following the sale, the vice president now owns 73,702 shares of the company’s stock, valued at $4,453,074.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David F. Smith sold 9,700 shares of the firm’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $58.24, for a total value of $564,928.00. Following the sale, the director now directly owns 363,168 shares in the company, valued at approximately $21,150,904.32. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This news story was originally reported by Dakota Financial News and is the sole property of of Dakota Financial News. If you are accessing this news story on another site, it was stolen and reposted in violation of United States & international copyright & trademark law. The legal version of this news story can be viewed at https://dakotafinancialnews.com/2019/03/15/martingale-asset-management-l-p-sells-83500-shares-of-national-fuel-gas-co-nfg.html.

National Fuel Gas Company Profile

National Fuel Gas Company operates as a diversified energy company. It operates through five segments: Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing. The Exploration and Production segment explores for, develops, and produces natural gas and oil in California and in the Appalachian region of the United States.

Featured Article: Lock-Up Period Expiration

Want to see what other hedge funds are holding NFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Fuel Gas Co. (NYSE:NFG).

Institutional Ownership by Quarter for National Fuel Gas (NYSE:NFG)

Receive News & Ratings for National Fuel Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Fuel Gas and related companies with MarketBeat.com's FREE daily email newsletter.