Investec Asset Management LTD lifted its stake in shares of Cabot Oil & Gas Co. (NYSE:COG) by 3.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 648,507 shares of the oil and gas exploration company’s stock after buying an additional 21,867 shares during the quarter. Investec Asset Management LTD owned about 0.15% of Cabot Oil & Gas worth $10,308,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Cabot Oil & Gas by 1.1% in the 1st quarter. BlackRock Inc. now owns 29,628,467 shares of the oil and gas exploration company’s stock worth $773,304,000 after acquiring an additional 328,207 shares in the last quarter. Neuberger Berman Group LLC grew its position in Cabot Oil & Gas by 10.4% during the first quarter. Neuberger Berman Group LLC now owns 14,287,550 shares of the oil and gas exploration company’s stock valued at $372,905,000 after buying an additional 1,343,815 shares during the period. Geode Capital Management LLC grew its position in Cabot Oil & Gas by 4.4% during the fourth 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 period. Primecap Management Co. CA grew its position in Cabot Oil & Gas by 1.2% during the first quarter. Primecap Management Co. CA now owns 3,518,154 shares of the oil and gas exploration company’s stock valued at $91,824,000 after buying an additional 41,300 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd bought a new position in Cabot Oil & Gas during the first quarter valued at about $63,479,000. Institutional investors own 95.63% of the company’s stock.
In other news, Director Peter B. Delaney bought 9,000 shares of Cabot Oil & Gas stock in a transaction dated Tuesday, July 30th. The stock was acquired at an average cost of $19.28 per share, with a total value of $173,520.00. Following the acquisition, the director now owns 16,925 shares of the company’s stock, valued at $326,314. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by insiders.
Several equities analysts recently weighed in on the stock. TheStreet lowered shares of Cabot Oil & Gas from a “b” rating to a “c+” rating in a research report on Tuesday, July 9th. Wells Fargo & Co raised shares of Cabot Oil & Gas from a “market perform” rating to an “outperform” rating and set a $28.00 price objective on the stock in a report on Monday, July 8th. Citigroup dropped their price objective on shares of Cabot Oil & Gas from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Williams Capital reissued a “hold” rating and issued a $27.00 price target on shares of Cabot Oil & Gas in a report on Monday, July 22nd. Finally, TD Securities lowered 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 report on Monday, July 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. Cabot Oil & Gas has a consensus rating of “Buy” and an average price target of $27.83.
Shares of NYSE COG traded up $0.01 during midday trading on Monday, hitting $16.48. The stock had a trading volume of 62,981 shares, compared to its average volume of 10,357,958. Cabot Oil & Gas Co. has a 1 year low of $16.01 and a 1 year high of $27.65. The company has a quick ratio of 2.61, a current ratio of 2.70 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $6.82 billion, a PE ratio of 14.60, a P/E/G ratio of 0.62 and a beta of 0.51. The stock has a 50 day simple moving average of $20.84 and a 200-day simple moving average of $24.26.
Cabot Oil & Gas (NYSE:COG) last posted its earnings results on Friday, July 26th. The oil and gas exploration company reported $0.36 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $476.10 million. During the same quarter in the previous year, the business earned $0.13 earnings per share. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. As a group, analysts expect that Cabot Oil & Gas Co. will post 1.74 earnings per share for the current fiscal year.
Cabot Oil & Gas declared that its Board of Directors has authorized a share repurchase program on Friday, July 26th that allows the company to buyback 25,000,000 outstanding shares. This buyback authorization allows the oil and gas exploration company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.36 annualized dividend and a dividend yield of 2.18%. Cabot Oil & Gas’s dividend payout ratio is currently 31.86%.
Cabot Oil & Gas 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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