Stephens Investment Management Group LLC lifted its position in Cabot Oil & Gas Corporation (NYSE:COG) by 23.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 524,550 shares of the oil and gas exploration company’s stock after purchasing an additional 100,050 shares during the quarter. Stephens Investment Management Group LLC owned 0.11% of Cabot Oil & Gas worth $14,032,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Westwood Holdings Group Inc. bought a new position in Cabot Oil & Gas during the second quarter worth about $100,000. IFP Advisors Inc boosted its holdings in Cabot Oil & Gas by 11.1% during the second quarter. IFP Advisors Inc now owns 4,569 shares of the oil and gas exploration company’s stock worth $115,000 after buying an additional 457 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Cabot Oil & Gas by 1.4% during the second quarter. Parallel Advisors LLC now owns 5,050 shares of the oil and gas exploration company’s stock worth $126,000 after buying an additional 71 shares during the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of Cabot Oil & Gas during the third quarter worth about $130,000. Finally, Pinebridge Investments L.P. acquired a new stake in shares of Cabot Oil & Gas during the second quarter worth about $163,000. Hedge funds and other institutional investors own 95.69% of the company’s stock.
Cabot Oil & Gas Corporation (NYSE COG) traded down $0.27 during midday trading on Thursday, hitting $27.78. The company’s stock had a trading volume of 3,204,867 shares, compared to its average volume of 5,948,405. Cabot Oil & Gas Corporation has a 1 year low of $20.55 and a 1 year high of $29.57. The company has a market cap of $12,870.00, a price-to-earnings ratio of 74.55, a PEG ratio of 1.91 and a beta of 0.52. 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 released its quarterly earnings results on Friday, October 27th. The oil and gas exploration company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Cabot Oil & Gas had a negative net margin of 8.80% and a positive return on equity of 6.63%. The company had revenue of $385.40 million during the quarter, compared to the consensus estimate of $400.85 million. During the same quarter last year, the firm posted ($0.04) EPS. The company’s quarterly revenue was up 24.2% on a year-over-year basis. analysts forecast that Cabot Oil & Gas Corporation will post 0.49 earnings per share for the current year.
The firm also recently announced 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. The ex-dividend date was Tuesday, November 7th. This represents a $0.20 annualized dividend and a dividend yield of 0.72%. Cabot Oil & Gas’s payout ratio is -62.50%.
A number of brokerages recently issued reports on COG. J P Morgan Chase & Co set a $37.00 target price on Cabot Oil & Gas and gave the company a “buy” rating in a research report on Monday, November 27th. KeyCorp set a $30.00 target price on Cabot Oil & Gas and gave the company a “buy” rating in a research report on Saturday, November 25th. Scotiabank restated a “buy” rating on shares of Cabot Oil & Gas in a research note on Wednesday, November 22nd. Barclays raised their price target on Cabot Oil & Gas from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, November 20th. Finally, Drexel Hamilton raised their price target on Cabot Oil & Gas from $27.82 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company. Cabot Oil & Gas currently has an average rating of “Buy” and an average price target of $30.59.
In other news, Chairman Dan O. Dinges sold 66,610 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was 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 directly owns 2,887,018 shares of the company’s stock, valued at $80,605,542.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Kelley acquired 2,000 shares of the stock in a transaction dated Tuesday, October 31st. The stock was bought at an average cost of $27.47 per share, with a total value of $54,940.00. Following the completion of the purchase, the director now owns 619,500 shares of the company’s stock, valued at $17,017,665. The disclosure for this purchase can be found here. 1.60% of the stock is owned by corporate insiders.
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About Cabot Oil & Gas
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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