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Achmea Investment Management B.V. Takes $710,000 Position in Cabot Oil & Gas Co. (NYSE:COG)

By August 26, 2019 No Comments

Achmea Investment Management B.V. bought a new stake in Cabot Oil & Gas Co. (NYSE:COG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 30,922 shares of the oil and gas exploration company’s stock, valued at approximately $710,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Connable Office Inc. grew its stake in shares of Cabot Oil & Gas by 0.8% during the first quarter. Connable Office Inc. now owns 67,508 shares of the oil and gas exploration company’s stock worth $1,762,000 after purchasing an additional 549 shares during the period. Nicollet Investment Management Inc. grew its stake in shares of Cabot Oil & Gas by 1.7% during the first quarter. Nicollet Investment Management Inc. now owns 34,396 shares of the oil and gas exploration company’s stock worth $898,000 after purchasing an additional 570 shares during the period. Carroll Financial Associates Inc. grew its stake in shares of Cabot Oil & Gas by 50.4% during the second quarter. Carroll Financial Associates Inc. now owns 1,806 shares of the oil and gas exploration company’s stock worth $41,000 after purchasing an additional 605 shares during the period. Sumitomo Mitsui Asset Management Company LTD grew its stake in shares of Cabot Oil & Gas by 2.0% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 31,159 shares of the oil and gas exploration company’s stock worth $813,000 after purchasing an additional 619 shares during the period. Finally, Augustine Asset Management Inc. grew its stake in shares of Cabot Oil & Gas by 0.6% during the second quarter. Augustine Asset Management Inc. now owns 100,504 shares of the oil and gas exploration company’s stock worth $2,308,000 after purchasing an additional 635 shares during the period. 95.63% of the stock is owned by institutional investors.

A number of equities research analysts recently commented on COG shares. Tudor Pickering raised Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Friday, August 2nd. TD Securities decreased their price objective on Cabot Oil & Gas from $29.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, July 29th. Morgan Stanley set a $23.00 price objective on Cabot Oil & Gas and gave the stock a “hold” rating in a research note on Monday, June 24th. ValuEngine lowered Cabot Oil & Gas from a “sell” rating to a “strong sell” rating in a report on Saturday, July 27th. Finally, Wells Fargo & Co upgraded Cabot Oil & Gas from a “market perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. Cabot Oil & Gas currently has an average rating of “Buy” and a consensus price target of $27.54.

In other news, Chairman Dan O. Dinges purchased 20,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were bought at an average cost of $16.34 per share, for a total transaction of $326,800.00. Following the completion of the acquisition, the chairman now directly owns 3,104,405 shares in the company, valued at approximately $50,725,977.70. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Dan O. Dinges purchased 16,755 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was purchased at an average price of $16.28 per share, for a total transaction of $272,771.40. Following the completion of the acquisition, the chief executive officer now owns 3,104,405 shares of the company’s stock, valued at $50,539,713.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 53,255 shares of company stock worth $895,416. Corporate insiders own 1.90% of the company’s stock.

COG stock opened at $16.84 on Monday. The business’s 50-day moving average price is $19.94 and its two-hundred day moving average price is $23.98. The company has a current ratio of 2.70, a quick ratio of 2.61 and a debt-to-equity ratio of 0.52. The firm has a market cap of $7.04 billion, a PE ratio of 9.29, a P/E/G ratio of 0.64 and a beta of 0.51. Cabot Oil & Gas Co. has a 1-year low of $16.01 and a 1-year high of $27.65.

Cabot Oil & Gas (NYSE:COG) last posted its earnings results on Friday, July 26th. The oil and gas exploration company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.05. The firm had revenue of $534.12 million for the quarter, compared to analyst estimates of $476.10 million. Cabot Oil & Gas had a return on equity of 34.79% and a net margin of 34.51%. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 earnings per share. On average, analysts forecast that Cabot Oil & Gas Co. will post 1.74 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a $0.09 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.14%. Cabot Oil & Gas’s dividend payout ratio (DPR) is 31.86%.

Cabot Oil & Gas announced that its Board of Directors has approved a share repurchase plan on Friday, July 26th that permits the company to repurchase 25,000,000 outstanding shares. This repurchase authorization permits the oil and gas exploration company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Cabot Oil & Gas Company Profile

Cabot Oil & Gas Corporation, an independent oil and gas company, explores for, exploits, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States. It primarily focuses on the Marcellus Shale with approximately 174,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

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Institutional Ownership by Quarter for Cabot Oil & Gas (NYSE:COG)

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