Bp Plc Invests $1.47 Million in Cabot Oil & Gas Corporation (NYSE:COG) Stock

BP PLC acquired a new position in shares of Cabot Oil & Gas Corporation (NYSE:COG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 55,000 shares of the oil and gas exploration company’s stock, valued at approximately $1,471,000.

Several other hedge funds have also recently modified their holdings of COG. Stifel Financial Corp lifted its position in Cabot Oil & Gas Corporation by 127.2% in the second quarter. Stifel Financial Corp now owns 44,262 shares of the oil and gas exploration company’s stock valued at $1,126,000 after purchasing an additional 24,777 shares during the period. Shell Asset Management Co. lifted its position in Cabot Oil & Gas Corporation by 328.6% in the third quarter. Shell Asset Management Co. now owns 125,242 shares of the oil and gas exploration company’s stock valued at $4,094,000 after purchasing an additional 96,023 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Cabot Oil & Gas Corporation by 59.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 165,521 shares of the oil and gas exploration company’s stock valued at $4,151,000 after purchasing an additional 61,978 shares during the period. Neuberger Berman Group LLC lifted its position in Cabot Oil & Gas Corporation by 11.3% in the second quarter. Neuberger Berman Group LLC now owns 20,664,730 shares of the oil and gas exploration company’s stock valued at $518,271,000 after purchasing an additional 2,095,126 shares during the period. Finally, Federated Investors Inc. PA lifted its position in Cabot Oil & Gas Corporation by 1,257.5% in the second quarter. Federated Investors Inc. PA now owns 130,509 shares of the oil and gas exploration company’s stock valued at $3,273,000 after purchasing an additional 120,895 shares during the period. 96.81% of the stock is currently owned by institutional investors.

COG has been the subject of a number of recent analyst reports. Scotiabank set a $30.00 price objective on Cabot Oil & Gas Corporation and gave the stock a “buy” rating in a research report on Tuesday, August 22nd. Barclays PLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of Cabot Oil & Gas Corporation in a research note on Wednesday, August 2nd. Cowen and Company set a $30.00 target price on shares of Cabot Oil & Gas Corporation and gave the stock a “buy” rating in a research note on Tuesday, July 18th. BMO Capital Markets set a $30.00 price objective on shares of Cabot Oil & Gas Corporation and gave the company a “buy” rating in a research note on Sunday, July 30th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $33.00 price objective on shares of Cabot Oil & Gas Corporation in a research note on Thursday, September 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $30.06.

TRADEMARK VIOLATION WARNING: This report was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this report can be viewed at https://www.dispatchtribunal.com/2017/11/12/bp-plc-purchases-shares-of-55000-cabot-oil-gas-corporation-cog.html.

Cabot Oil & Gas Corporation (COG) traded up $0.43 during mid-day trading on Friday, reaching $28.99. 6,005,300 shares of the company’s stock were exchanged, compared to its average volume of 6,426,265. Cabot Oil & Gas Corporation has a 12 month low of $20.55 and a 12 month high of $29.06. The company has a current ratio of 1.64, a quick ratio of 1.61 and a debt-to-equity ratio of 0.49. The stock has a market cap of $13,408.11, a P/E ratio of 76.29, a price-to-earnings-growth ratio of 1.83 and a beta of 0.51.

Cabot Oil & Gas Corporation (NYSE:COG) last released its earnings results on Friday, October 27th. The oil and gas exploration company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Cabot Oil & Gas Corporation had a positive return on equity of 6.63% and a negative net margin of 8.80%. The company had revenue of $385.40 million during the quarter, compared to analysts’ expectations of $400.85 million. During the same quarter in the previous year, the company earned ($0.04) EPS. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. analysts expect that Cabot Oil & Gas Corporation will post 0.53 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Wednesday, November 8th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $0.20 dividend on an annualized basis and a yield of 0.69%. Cabot Oil & Gas Corporation’s payout ratio is presently -64.51%.

In other news, Director Robert Kelley purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was purchased at an average cost of $27.47 per share, with a total value of $54,940.00. Following the acquisition, the director now directly owns 619,500 shares of the company’s stock, valued at approximately $17,017,665. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Dan O. Dinges sold 66,610 shares of Cabot Oil & Gas Corporation stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $27.92, for a total transaction of $1,859,751.20. Following the transaction, the chairman now directly owns 2,887,018 shares of the company’s stock, valued at $80,605,542.56. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Cabot Oil & Gas Corporation Profile

Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties. The Company operates in the segment of natural gas and oil development, exploitation, exploration and production, in the continental United States. Its assets are concentrated in areas with known hydrocarbon resources, which are conducive to multi-well, repeatable drilling programs.

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

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

Leave a Reply