Investec Asset Management LTD raised its position in Cabot Oil & Gas Co. (NYSE:COG) by 3.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 648,507 shares of the oil and gas exploration company’s stock after acquiring an additional 21,867 shares during the quarter. Investec Asset Management LTD owned approximately 0.15% of Cabot Oil & Gas worth $10,308,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Connable Office Inc. raised its stake in Cabot Oil & Gas by 0.8% in the 1st 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 in the last quarter. Nicollet Investment Management Inc. grew its holdings in shares of Cabot Oil & Gas by 1.7% during the 1st quarter. Nicollet Investment Management Inc. now owns 34,396 shares of the oil and gas exploration company’s stock valued at $898,000 after purchasing an additional 570 shares during the last quarter. Carroll Financial Associates Inc. grew its holdings in Cabot Oil & Gas by 50.4% during the 2nd quarter. Carroll Financial Associates Inc. now owns 1,806 shares of the oil and gas exploration company’s stock worth $41,000 after acquiring an additional 605 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its holdings in Cabot Oil & Gas by 2.0% during the 1st 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 acquiring an additional 619 shares during the last quarter. Finally, Exane Derivatives lifted its position in shares of Cabot Oil & Gas by 1.6% in the 1st quarter. Exane Derivatives now owns 40,887 shares of the oil and gas exploration company’s stock worth $1,067,000 after purchasing an additional 634 shares during the period. Hedge funds and other institutional investors own 95.63% of the company’s stock.
In other Cabot Oil & Gas news, Director Peter B. Delaney bought 9,000 shares of Cabot Oil & Gas stock in a transaction on Tuesday, July 30th. The shares were bought at an average price of $19.28 per share, for a total transaction of $173,520.00. Following the completion of 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 document filed with the SEC, which is available at the SEC website. 1.90% of the stock is owned by insiders.Cabot Oil & Gas stock traded up $0.01 during midday trading on Monday, hitting $16.48. 62,981 shares of the company were exchanged, compared to its average volume of 10,357,958. The firm has a market capitalization of $6.82 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 0.62 and a beta of 0.51. The business has a fifty day simple moving average of $20.84 and a two-hundred day simple moving average of $24.26. Cabot Oil & Gas Co. has a fifty-two week low of $16.01 and a fifty-two week high of $27.65. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.61 and a current ratio of 2.70.
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 firm had revenue of $534.12 million for the quarter, compared to the consensus estimate of $476.10 million. During the same quarter last year, the business posted $0.13 earnings per share. The firm’s revenue was up 17.8% compared to the same quarter last year. As a group, equities analysts expect that Cabot Oil & Gas Co. will post 1.74 earnings per share for the current year.
Cabot Oil & Gas announced that its Board of Directors has authorized a share buyback plan on Friday, July 26th that permits the company to repurchase 25,000,000 shares. This repurchase authorization permits the oil and gas exploration company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be given a $0.09 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.36 dividend on an annualized basis and a yield of 2.18%. Cabot Oil & Gas’s dividend payout ratio is currently 31.86%.
COG has been the subject of a number of recent research reports. TheStreet lowered shares of Cabot Oil & Gas from a “b” rating to a “c+” rating in a research note on Tuesday, July 9th. ValuEngine lowered shares of Cabot Oil & Gas from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 27th. Citigroup reduced their price target on shares of Cabot Oil & Gas from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. MKM Partners upgraded shares of Cabot Oil & Gas from a “neutral” rating to a “buy” rating in a research report on Monday, July 29th. Finally, Morgan Stanley set a $23.00 price target on shares of Cabot Oil & Gas and gave the company a “hold” rating in a research report on Monday, June 24th. One investment 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 stock presently has a consensus rating of “Buy” and an average target price of $27.83.
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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