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Augustine Asset Management Inc. Buys 635 Shares of Cabot Oil & Gas Co. (NYSE:COG)

By August 22, 2019 No Comments

Augustine Asset Management Inc. raised its stake in shares of Cabot Oil & Gas Co. (NYSE:COG) by 0.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 100,504 shares of the oil and gas exploration company’s stock after purchasing an additional 635 shares during the period. Cabot Oil & Gas makes up 1.6% of Augustine Asset Management Inc.’s portfolio, making the stock its 23rd biggest position. Augustine Asset Management Inc.’s holdings in Cabot Oil & Gas were worth $2,308,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Meridian Wealth Management LLC purchased a new position in shares of Cabot Oil & Gas during the first quarter worth approximately $25,000. Carroll Financial Associates Inc. raised its stake in shares of Cabot Oil & Gas by 192.9% during the first quarter. Carroll Financial Associates Inc. now owns 1,201 shares of the oil and gas exploration company’s stock worth $31,000 after acquiring an additional 791 shares in the last quarter. Pearl River Capital LLC purchased a new position in shares of Cabot Oil & Gas during the first quarter worth approximately $32,000. Joseph P. Lucia & Associates LLC purchased a new position in shares of Cabot Oil & Gas during the first quarter worth approximately $40,000. Finally, First Interstate Bank raised its stake in shares of Cabot Oil & Gas by 278.6% during the second quarter. First Interstate Bank now owns 1,893 shares of the oil and gas exploration company’s stock worth $43,000 after acquiring an additional 1,393 shares in the last quarter. Institutional investors and hedge funds own 95.63% of the company’s stock.

Shares of NYSE COG opened at $16.75 on Tuesday. The company has a quick ratio of 2.61, a current ratio of 2.70 and a debt-to-equity ratio of 0.52. Cabot Oil & Gas Co. has a 52 week low of $16.01 and a 52 week high of $27.65. The firm’s fifty day moving average is $20.45 and its 200 day moving average is $24.14. The company has a market cap of $6.82 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 0.62 and a beta of 0.51.

Cabot Oil & Gas (NYSE:COG) last issued its earnings results on Friday, July 26th. The oil and gas exploration company reported $0.36 EPS for the quarter, topping the consensus estimate 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 company had revenue of $534.12 million for the quarter, compared to the consensus estimate of $476.10 million. During the same period in the previous year, the firm earned $0.13 earnings per share. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. Equities research analysts anticipate that Cabot Oil & Gas Co. will post 1.74 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Wednesday, August 7th. Cabot Oil & Gas’s payout ratio is currently 31.86%.

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

Several research analysts have commented on the stock. Citigroup decreased their price target on shares of Cabot Oil & Gas from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Williams Capital reissued a “hold” rating and set a $27.00 price target on shares of Cabot Oil & Gas in a research note on Monday, July 22nd. Wells Fargo & Co raised shares of Cabot Oil & Gas from a “market perform” rating to an “outperform” rating and set a $28.00 price target on the stock in a research note on Monday, July 8th. TD Securities decreased their price target on shares of Cabot Oil & Gas from $29.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. Finally, TheStreet downgraded shares of Cabot Oil & Gas from a “b” rating to a “c+” rating in a research note on Tuesday, July 9th. One 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. The stock has an average rating of “Buy” and a consensus target price of $27.83.

In related news, CEO Dan O. Dinges acquired 16,755 shares of Cabot Oil & Gas stock in a transaction on Friday, August 16th. The shares were acquired at an average cost of $16.28 per share, with a total value of $272,771.40. Following the transaction, the chief executive officer now owns 3,104,405 shares in the company, valued at $50,539,713.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Dan O. Dinges acquired 20,000 shares of Cabot Oil & Gas stock in a transaction on 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 transaction, the chairman now owns 3,104,405 shares in the company, valued at approximately $50,725,977.70. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 53,255 shares of company stock worth $895,416. Insiders own 1.90% of the company’s stock.

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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