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Achmea Investment Management B.V. Takes 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) during the 2nd quarter, Holdings Channel reports. The firm bought 30,922 shares of the oil and gas exploration company’s stock, valued at approximately $710,000.

Several other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in Cabot Oil & Gas by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 5,654,486 shares of the oil and gas exploration company’s stock valued at $126,159,000 after buying an additional 237,315 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Cabot Oil & Gas by 19.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,501,665 shares of the oil and gas exploration company’s stock valued at $33,572,000 after buying an additional 239,959 shares during the last quarter. Creative Planning grew its holdings in Cabot Oil & Gas by 9.6% in the 1st quarter. Creative Planning now owns 15,711 shares of the oil and gas exploration company’s stock valued at $410,000 after buying an additional 1,382 shares during the last quarter. World Asset Management Inc grew its holdings in Cabot Oil & Gas by 5.9% in the 1st quarter. World Asset Management Inc now owns 28,853 shares of the oil and gas exploration company’s stock valued at $753,000 after buying an additional 1,606 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Cabot Oil & Gas by 6.0% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 72,512 shares of the oil and gas exploration company’s stock valued at $1,893,000 after buying an additional 4,075 shares during the last quarter. 95.63% of the stock is currently owned by institutional investors.

Shares of COG stock opened at $16.84 on Monday. The stock has a 50 day moving average of $19.94 and a two-hundred day moving average of $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. Cabot Oil & Gas Co. has a 12 month low of $16.01 and a 12 month high of $27.65. The company has a market capitalization of $7.04 billion, a P/E ratio of 9.29, a P/E/G ratio of 0.64 and a beta of 0.51.

Cabot Oil & Gas (NYSE:COG) last announced its quarterly earnings data on Friday, July 26th. The oil and gas exploration company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.05. Cabot Oil & Gas had a return on equity of 34.79% and a net margin of 34.51%. The company had revenue of $534.12 million during the quarter, compared to the consensus estimate of $476.10 million. During the same quarter last year, the company earned $0.13 EPS. The company’s quarterly revenue was up 17.8% on a year-over-year basis. Sell-side analysts predict that Cabot Oil & Gas Co. will post 1.74 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a dividend of $0.09 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.36 annualized dividend and a dividend yield of 2.14%. Cabot Oil & Gas’s dividend payout ratio (DPR) is presently 31.86%.

Cabot Oil & Gas declared that its board has approved a stock buyback program on Friday, July 26th that authorizes the company to buyback 25,000,000 shares. This buyback authorization authorizes the oil and gas exploration company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

COG has been the topic of a number of research analyst reports. Morgan Stanley set a $23.00 target price on Cabot Oil & Gas and gave the company a “hold” rating in a report on Monday, June 24th. Wells Fargo & Co raised 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. MKM Partners raised Cabot Oil & Gas from a “neutral” rating to a “buy” rating in a report on Monday, July 29th. Tudor Pickering raised Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Friday, August 2nd. Finally, TheStreet downgraded Cabot Oil & Gas from a “b” rating to a “c+” rating in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $27.54.

In related news, Director Peter B. Delaney bought 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was acquired at an average price of $19.28 per share, for a total transaction of $173,520.00. Following the transaction, the director now directly owns 16,925 shares of the company’s stock, valued at $326,314. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Dan O. Dinges bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were bought at an average price of $16.34 per share, with a total value of $326,800.00. Following the transaction, the chairman now directly owns 3,104,405 shares in the company, valued at $50,725,977.70. The disclosure for this purchase can be found here. Insiders have purchased a total of 53,255 shares of company stock valued at $895,416 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

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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