National Fuel Gas Co. (NFG): Hedge Fund Ownership Rebounds In Big Way

As one would reasonably expect, specific money managers were leading the bulls’ herd. Citadel Investment Group assembled the most valuable call position in National Fuel Gas Co. (NYSE:NFG). Citadel Investment Group had $0.5 million invested in the company at the end of the quarter. David Costen Haley’s HBK Investments also initiated a $0.5 million position during the quarter. The other funds with brand new NFG positions are Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital, Mike Vranos’ Ellington, and Joshua Packwood and Schuster Tanger’s Radix Partners.

Let’s check out hedge fund activity in other stocks similar to National Fuel Gas Co. (NYSE:NFG). These stocks are Dolby Laboratories, Inc. (NYSE:DLB), Allison Transmission Holdings Inc (NYSE:ALSN), Grupo Aeroportuario del Sureste (ADR) (NYSE:ASR), and PacWest Bancorp (NASDAQ:PACW). This group of stocks’ market valuations are closest to NFG’s market valuation.

As you can see these stocks had an average of 21.75 hedge funds with bullish positions and the average amount invested in these stocks was $633 million. That figure was $257 million in NFG’s case. Allison Transmission Holdings Inc (NYSE:ALSN) is the most popular stock in this table. On the other hand Grupo Aeroportuario del Sureste (ADR) (NYSE:ASR) is the least popular one with only 9 bullish hedge fund positions. National Fuel Gas Co. (NYSE:NFG) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard ALSN might be a better candidate to consider a long position in.

Disclosure: None