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Alambic Investment Management L.P. Acquires 31,750 Shares of Cabot Oil & Gas Co. (NYSE:COG)

By September 8, 2019 No Comments

Alambic Investment Management L.P. increased its holdings in Cabot Oil & Gas Co. (NYSE:COG) by 94.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,450 shares of the oil and gas exploration company’s stock after purchasing an additional 31,750 shares during the quarter. Cabot Oil & Gas makes up approximately 0.9% of Alambic Investment Management L.P.’s holdings, making the stock its 11th largest holding. Alambic Investment Management L.P.’s holdings in Cabot Oil & Gas were worth $1,503,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Steward Partners Investment Advisory LLC purchased a new position in Cabot Oil & Gas in the 2nd quarter worth approximately $57,000. Janney Montgomery Scott LLC raised its holdings in Cabot Oil & Gas by 2.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 31,688 shares of the oil and gas exploration company’s stock worth $728,000 after acquiring an additional 684 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Cabot Oil & Gas by 13.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,647,588 shares of the oil and gas exploration company’s stock worth $43,002,000 after acquiring an additional 191,268 shares during the last quarter. TD Asset Management Inc. raised its holdings in Cabot Oil & Gas by 4.8% in the 1st quarter. TD Asset Management Inc. now owns 480,225 shares of the oil and gas exploration company’s stock worth $12,534,000 after acquiring an additional 22,194 shares during the last quarter. Finally, BP PLC bought a new stake in Cabot Oil & Gas in the 1st quarter worth approximately $1,305,000. 95.63% of the stock is currently owned by institutional investors.

In other Cabot Oil & Gas news, Director Peter B. Delaney acquired 9,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was purchased at an average price of $19.28 per share, with a total value of $173,520.00. Following the transaction, the director now directly owns 16,925 shares in the company, valued at approximately $326,314. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Rhys J. Best acquired 7,500 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were acquired at an average cost of $16.31 per share, with a total value of $122,325.00. The disclosure for this purchase can be found here. In the last three months, insiders have bought 53,255 shares of company stock valued at $895,416. Insiders own 1.90% of the company’s stock.

Shares of COG stock opened at $17.55 on Friday. Cabot Oil & Gas Co. has a 1 year low of $16.01 and a 1 year high of $27.65. The firm has a fifty day moving average price of $18.10 and a 200-day moving average price of $23.45. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.70 and a quick ratio of 2.61. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 0.68 and a beta of 0.53.

Cabot Oil & Gas (NYSE:COG) last issued its quarterly earnings data on Friday, July 26th. The oil and gas exploration company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. Cabot Oil & Gas had a net margin of 34.51% and a return on equity of 34.79%. The firm had revenue of $534.12 million during the quarter, compared to the consensus estimate of $476.10 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. Equities research analysts expect that Cabot Oil & Gas Co. will post 1.7 EPS for the current year.

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

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Wednesday, August 7th. Cabot Oil & Gas’s payout ratio is 31.86%.

A number of equities research analysts have commented on COG shares. TD Securities cut their target price on shares of Cabot Oil & Gas from $29.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, July 29th. MKM Partners raised shares of Cabot Oil & Gas from a “neutral” rating to a “buy” rating in a research report on Monday, July 29th. Zacks Investment Research downgraded shares of Cabot Oil & Gas from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Wells Fargo & Co raised shares of Cabot Oil & Gas from a “market perform” rating to an “outperform” rating and set a $28.00 target price for the company in a research report on Monday, July 8th. Finally, Tudor Pickering raised shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $27.39.

About Cabot Oil & Gas

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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