Michael W. Reville, general counsel and secretary of National Fuel Gas Co (NYSE:NFG), sold a total of 6,357 shares of the company’s stock, according to the latest SEC filings. The transaction, which took place on June 21, 2024, was executed at a weighted average price of $54.829 per share, for a total value of $348,547.
The reported sales were made in multiple transactions with prices ranging from $54.79 to $54.895. This price range indicates that Reville took advantage of a relatively stable share price to make these sales. Following the transaction, Reville’s direct holdings in the company decreased to 9,903 common shares.
Additionally, the SEC filing disclosed an indirect ownership of 13,840 shares in the form of shares of the company’s 401(k) fund, which is a mix of common stock and cash reserves of National Fuel Gas Co. The attached footnote to this information clarifies that the number reported represents the dollar value of Reville’s balance in the NFG stock fund as of the day preceding the reported transactions, based on the plan administrator’s report and the closing price of NFG common stock on that date.
Investors often keep an eye on insider transactions like these to get a sense of executive sentiment regarding the company’s future performance. While the reasons behind Reville’s stock sale are not detailed in the report, the transaction provides a snapshot of the trading activity of a key National Fuel Gas Co. executive.
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