Scotiabank reaffirmed their buy rating on shares of Cabot Oil & Gas (NYSE:COG) in a research report sent to investors on Wednesday, November 22nd.
COG has been the topic of a number of other reports. Williams Capital set a $30.00 target price on shares of Cabot Oil & Gas and gave the stock a hold rating in a research report on Monday, October 30th. Cowen reaffirmed a buy rating and set a $30.00 price target on shares of Cabot Oil & Gas in a report on Tuesday, September 12th. Zacks Investment Research raised Cabot Oil & Gas from a sell rating to a hold rating in a report on Wednesday, October 25th. BMO Capital Markets set a $30.00 price target on Cabot Oil & Gas and gave the stock a buy rating in a report on Sunday, July 30th. Finally, Barclays increased their price target on Cabot Oil & Gas from $30.00 to $31.00 and gave the stock an overweight rating in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. The company has an average rating of Buy and an average price target of $30.59.
Shares of Cabot Oil & Gas (NYSE:COG) traded down $0.27 during trading on Wednesday, reaching $27.78. 3,204,867 shares of the company’s stock traded hands, compared to its average volume of 5,948,405. The stock has a market capitalization of $12,870.00, a price-to-earnings ratio of 74.55, a P/E/G ratio of 1.91 and a beta of 0.52. Cabot Oil & Gas has a one year low of $20.55 and a one year high of $29.57. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.64 and a quick ratio of 1.61.
Cabot Oil & Gas (NYSE:COG) last announced its quarterly earnings results on Friday, October 27th. The oil and gas exploration company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.01). The company had revenue of $385.40 million during the quarter, compared to analysts’ expectations of $400.85 million. Cabot Oil & Gas had a negative net margin of 8.80% and a positive return on equity of 6.63%. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) earnings per share. sell-side analysts predict that Cabot Oil & Gas will post 0.49 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Wednesday, November 8th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Tuesday, November 7th. Cabot Oil & Gas’s dividend payout ratio is presently -62.50%.
In other Cabot Oil & Gas news, Director Robert Kelley purchased 2,000 shares of the stock in a transaction on Tuesday, October 31st. The stock was bought at an average price of $27.47 per share, for a total transaction of $54,940.00. Following the acquisition, the director now directly owns 619,500 shares of the company’s stock, valued at $17,017,665. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Dan O. Dinges sold 66,610 shares of Cabot Oil & Gas stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $27.92, for a total value of $1,859,751.20. Following the completion of the sale, the chairman now owns 2,887,018 shares of the company’s stock, valued at approximately $80,605,542.56. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of COG. Capital World Investors lifted its stake in shares of Cabot Oil & Gas by 157.8% in the 2nd quarter. Capital World Investors now owns 27,084,300 shares of the oil and gas exploration company’s stock valued at $679,274,000 after purchasing an additional 16,579,300 shares in the last quarter. PointState Capital LP lifted its stake in shares of Cabot Oil & Gas by 60.9% in the 2nd quarter. PointState Capital LP now owns 18,011,889 shares of the oil and gas exploration company’s stock valued at $451,738,000 after purchasing an additional 6,818,389 shares in the last quarter. FMR LLC lifted its stake in shares of Cabot Oil & Gas by 16.5% in the 2nd quarter. FMR LLC now owns 29,661,972 shares of the oil and gas exploration company’s stock valued at $743,923,000 after purchasing an additional 4,192,976 shares in the last quarter. Boston Partners acquired a new position in shares of Cabot Oil & Gas in the 3rd quarter valued at about $64,249,000. Finally, Neuberger Berman Group LLC lifted its stake in shares of Cabot Oil & Gas by 11.3% in the 2nd 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 in the last quarter. Institutional investors own 95.69% of the company’s stock.
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Cabot Oil & Gas Company 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.
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