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South Texas Money Management Ltd. Increases Stake in Cabot Oil & Gas Co. (NYSE:COG)

By August 17, 2019 No Comments

South Texas Money Management Ltd. lifted its stake in Cabot Oil & Gas Co. (NYSE:COG) by 69.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,041,204 shares of the oil and gas exploration company’s stock after buying an additional 425,988 shares during the period. South Texas Money Management Ltd. owned approximately 0.25% of Cabot Oil & Gas worth $23,906,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC increased its holdings in Cabot Oil & Gas by 13.1% in the first quarter. Janus Henderson Group PLC now owns 1,647,588 shares of the oil and gas exploration company’s stock valued at $43,002,000 after purchasing an additional 191,268 shares during the period. Contravisory Investment Management Inc. boosted its position in Cabot Oil & Gas by 12.0% during the first quarter. Contravisory Investment Management Inc. now owns 13,338 shares of the oil and gas exploration company’s stock valued at $348,000 after acquiring an additional 1,429 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Cabot Oil & Gas by 19.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,501,665 shares of the oil and gas exploration company’s stock valued at $33,572,000 after acquiring an additional 239,959 shares during the last quarter. TD Asset Management Inc. boosted its position in Cabot Oil & Gas by 4.8% during the first quarter. TD Asset Management Inc. now owns 480,225 shares of the oil and gas exploration company’s stock valued at $12,534,000 after acquiring an additional 22,194 shares during the last quarter. Finally, BP PLC bought a new stake in Cabot Oil & Gas during the first quarter valued at $1,305,000. Institutional investors and hedge funds own 97.45% of the company’s stock.

In other news, Director Peter B. Delaney acquired 9,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were purchased 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 owns 16,925 shares of the company’s stock, valued at $326,314. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently owned by insiders.

COG has been the topic of a number of research analyst reports. Tudor Pickering raised shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Friday, August 2nd. MKM Partners raised shares of Cabot Oil & Gas from a “neutral” rating to a “buy” rating in a research report on Monday, July 29th. Citigroup cut 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 report on Friday, August 2nd. Zacks Investment Research cut shares of Cabot Oil & Gas from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Finally, ValuEngine cut shares of Cabot Oil & Gas from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $27.83.

NYSE:COG traded up $0.17 during trading hours on Friday, reaching $16.47. The company’s stock had a trading volume of 4,798,183 shares, compared to its average volume of 6,518,301. The firm has a 50-day simple moving average of $20.96 and a 200-day simple moving average of $24.30. Cabot Oil & Gas Co. has a 1 year low of $16.01 and a 1 year high of $27.65. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 0.65 and a beta of 0.51. 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 released its quarterly earnings data on Friday, July 26th. The oil and gas exploration company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $534.12 million for the quarter, compared to analysts’ expectations of $476.10 million. During the same quarter in the previous year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. Equities analysts anticipate that Cabot Oil & Gas Co. will post 1.74 earnings per share for the current fiscal year.

Cabot Oil & Gas declared that its board has initiated a share repurchase plan on Friday, July 26th that permits the company to repurchase 25,000,000 outstanding shares. This repurchase authorization permits the oil and gas exploration company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

The company 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 $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Wednesday, August 7th. Cabot Oil & Gas’s payout ratio is 31.86%.

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

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