Steward Partners Investment Advisory LLC bought a new stake in shares of Cabot Oil & Gas Co. (NYSE:COG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,500 shares of the oil and gas exploration company’s stock, valued at approximately $57,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC increased its position in Cabot Oil & Gas by 13.1% during the 1st 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. TD Asset Management Inc. boosted its holdings in shares of Cabot Oil & Gas by 4.8% in the 1st 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 buying an additional 22,194 shares in the last quarter. BP PLC bought a new stake in shares of Cabot Oil & Gas in the 1st quarter valued at about $1,305,000. Alambic Investment Management L.P. bought a new stake in shares of Cabot Oil & Gas in the 1st quarter valued at about $880,000. Finally, Zions Bancorporation N.A. bought a new stake in shares of Cabot Oil & Gas in the 1st quarter valued at about $55,000. 95.63% of the stock is currently owned by institutional investors and hedge funds.
In other Cabot Oil & Gas news, CEO Dan O. Dinges purchased 16,755 shares of Cabot Oil & Gas stock in a transaction on Friday, August 16th. The stock was bought 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 of the company’s stock, valued at approximately $50,539,713.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter B. Delaney purchased 9,000 shares of Cabot Oil & Gas stock in a transaction on Tuesday, July 30th. The shares were acquired at an average cost of $19.28 per share, with a total value of $173,520.00. Following the completion of the transaction, the director now directly owns 16,925 shares in the company, valued at approximately $326,314. The disclosure for this purchase can be found here. Insiders purchased a total of 53,255 shares of company stock valued at $895,416 over the last quarter. 1.90% of the stock is owned by company insiders.COG stock opened at $16.75 on Tuesday. The firm has a 50 day moving average of $20.45 and a 200 day moving average of $24.14. The stock has a market capitalization of $6.89 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51. The company has a quick ratio of 2.61, a current ratio of 2.70 and a debt-to-equity ratio of 0.52. Cabot Oil & Gas Co. has a 52 week low of $16.01 and a 52 week high of $27.65.
Cabot Oil & Gas (NYSE:COG) last released its earnings results 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 company had revenue of $534.12 million during the quarter, compared to analysts’ expectations of $476.10 million. Cabot Oil & Gas had a net margin of 34.51% and a return on equity of 34.79%. Cabot Oil & Gas’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period last year, the business earned $0.13 EPS. On average, equities research analysts expect that Cabot Oil & Gas Co. will post 1.74 earnings per share for the current year.
Cabot Oil & Gas declared that its board has initiated a share 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. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Wednesday, August 7th. Cabot Oil & Gas’s dividend payout ratio (DPR) is presently 31.86%.
A number of research firms have recently weighed in on COG. Wells Fargo & Co upgraded shares of Cabot Oil & Gas from a “market perform” rating to an “outperform” rating and set a $28.00 price target on the stock in a report on Monday, July 8th. MKM Partners upgraded shares of Cabot Oil & Gas from a “neutral” rating to a “buy” rating in a report on Monday, July 29th. TheStreet cut shares of Cabot Oil & Gas from a “b” rating to a “c+” rating in a report on Tuesday, July 9th. Williams Capital restated a “hold” rating and issued a $27.00 price target on shares of Cabot Oil & Gas in a report on Monday, July 22nd. Finally, Citigroup lowered 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 report on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. Cabot Oil & Gas has an average rating of “Buy” and a consensus target price of $27.83.
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.
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