Industry News

Investec Asset Management LTD Has $10.31 Million Stock Holdings in Cabot Oil & Gas Co. (NYSE:COG)

By August 27, 2019 No Comments

Investec Asset Management LTD grew its position in Cabot Oil & Gas Co. (NYSE:COG) by 3.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 648,507 shares of the oil and gas exploration company’s stock after purchasing an additional 21,867 shares during the quarter. Investec Asset Management LTD owned about 0.15% of Cabot Oil & Gas worth $10,308,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Cabot Oil & Gas by 19.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 139,915 shares of the oil and gas exploration company’s stock valued at $3,212,000 after acquiring an additional 22,552 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Cabot Oil & Gas by 2.2% during 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 buying an additional 684 shares in the last quarter. Riggs Asset Managment Co. Inc. lifted its holdings in Cabot Oil & Gas by 0.8% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 171,431 shares of the oil and gas exploration company’s stock worth $3,936,000 after buying an additional 1,390 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Cabot Oil & Gas in the 2nd quarter valued at $57,000. Finally, Cambiar Investors LLC raised its holdings in shares of Cabot Oil & Gas by 72.9% in the 2nd quarter. Cambiar Investors LLC now owns 196,882 shares of the oil and gas exploration company’s stock valued at $4,520,000 after purchasing an additional 83,014 shares in the last quarter. 95.63% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cabot Oil & Gas stock opened at $16.55 on Tuesday. The company’s fifty day simple moving average is $19.52 and its 200-day simple moving average is $23.86. 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 1 year low of $16.01 and a 1 year high of $27.65. The company has a market cap of $7.03 billion, a price-to-earnings ratio of 14.65, a PEG 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 firm had revenue of $534.12 million during the quarter, compared to analyst estimates of $476.10 million. During the same period last year, the company earned $0.13 earnings per share. The company’s revenue was up 17.8% on a year-over-year basis. As a group, research analysts forecast that Cabot Oil & Gas Co. will post 1.74 earnings per share for the current fiscal year.

Cabot Oil & Gas announced that its Board of Directors has authorized a stock repurchase program 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 purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Wednesday, August 7th. Cabot Oil & Gas’s payout ratio is 31.86%.

In related news, Director Peter B. Delaney bought 9,000 shares of Cabot Oil & Gas stock in a transaction dated Tuesday, July 30th. The shares were bought 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 in the company, valued at approximately $326,314. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rhys J. Best bought 7,500 shares of Cabot Oil & Gas stock in a transaction dated Friday, August 16th. The shares were bought at an average cost of $16.31 per share, for a total transaction of $122,325.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 53,255 shares of company stock worth $895,416. Company insiders own 1.90% of the company’s stock.

A number of research firms recently commented on COG. Williams Capital reaffirmed a “hold” rating and issued a $22.00 target price on shares of Cabot Oil & Gas in a research report on Thursday, August 22nd. Morgan Stanley set a $23.00 price objective on shares of Cabot Oil & Gas and gave the company a “hold” rating in a research note on Monday, June 24th. TheStreet cut shares of Cabot Oil & Gas from a “b” rating to a “c+” rating in a research report on Tuesday, July 9th. Tudor Pickering raised shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Friday, August 2nd. Finally, ValuEngine downgraded shares of Cabot Oil & Gas from a “sell” rating to a “strong sell” rating in a report on Saturday, July 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. Cabot Oil & Gas has a consensus rating of “Buy” and a consensus price target of $27.54.

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.

Featured Story: Day Trading – Risk Worth the Reward?

Institutional Ownership by Quarter for Cabot Oil & Gas (NYSE:COG)

Receive News & Ratings for Cabot Oil & Gas Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Cabot Oil & Gas and related companies with MarketBeat.com’s FREE daily email newsletter.



Source link