Investec Asset Management LTD lifted its holdings 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 Securities and Exchange Commission (SEC). The institutional investor owned 648,507 shares of the oil and gas exploration company’s stock after purchasing an additional 21,867 shares during the period. 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 institutional investors and hedge funds have also modified their holdings of COG. Meridian Wealth Management LLC purchased a new stake in Cabot Oil & Gas in the 1st quarter worth approximately $25,000. Paragon Capital Management LLC purchased a new stake in Cabot Oil & Gas in the 1st quarter worth approximately $26,000. Carroll Financial Associates Inc. grew its stake in shares of Cabot Oil & Gas by 192.9% during the 1st quarter. Carroll Financial Associates Inc. now owns 1,201 shares of the oil and gas exploration company’s stock valued at $31,000 after buying an additional 791 shares during the period. Pearl River Capital LLC purchased a new stake in shares of Cabot Oil & Gas during the 1st quarter valued at $32,000. Finally, Joseph P. Lucia & Associates LLC purchased a new stake in shares of Cabot Oil & Gas during the 1st quarter valued at $40,000. 96.65% of the stock is owned by institutional investors and hedge funds.
In other Cabot Oil & Gas news, Director Rhys J. Best acquired 7,500 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was acquired at an average price of $16.31 per share, with a total value of $122,325.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dan O. Dinges acquired 16,755 shares of the stock in a transaction that occurred 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 disclosure for this purchase can be found here. Insiders bought a total of 53,255 shares of company stock valued at $895,416 in the last three months. Insiders own 1.90% of the company’s stock.
COG stock traded down $0.10 during trading on Tuesday, reaching $17.02. The stock had a trading volume of 6,305,100 shares, compared to its average volume of 6,551,280. Cabot Oil & Gas Co. has a 1-year low of $16.01 and a 1-year high of $27.65. The company has a current ratio of 2.70, a quick ratio of 2.61 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $7.13 billion, a P/E ratio of 15.06, a PEG ratio of 0.66 and a beta of 0.53. The firm has a fifty day moving average price of $18.43 and a 200 day moving average price of $23.57.
Cabot Oil & Gas (NYSE:COG) last issued its quarterly earnings data on Friday, July 26th. The oil and gas exploration company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. The firm had revenue of $534.12 million for the quarter, compared to analyst estimates of $476.10 million. Cabot Oil & Gas had a net margin of 34.51% and a return on equity of 34.79%. The firm’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 EPS. Sell-side analysts predict that Cabot Oil & Gas Co. will post 1.72 EPS for the current year.
Cabot Oil & Gas declared that its board has approved a stock repurchase program 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 reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Wednesday, August 7th. Cabot Oil & Gas’s payout ratio is currently 31.86%.
Several analysts have recently issued reports on COG shares. TheStreet cut shares of Cabot Oil & Gas from a “b” rating to a “c+” rating in a research note on Tuesday, July 9th. MKM Partners raised shares of Cabot Oil & Gas from a “neutral” rating to a “buy” rating in a research note on Monday, July 29th. Citigroup lowered their price objective on shares of Cabot Oil & Gas from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. ValuEngine cut shares of Cabot Oil & Gas from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 27th. Finally, Williams Capital restated a “hold” rating and set a $22.00 target price on shares of Cabot Oil & Gas in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. Cabot Oil & Gas currently has a consensus rating of “Buy” and an average target price of $27.54.
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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