Dynamic Technology Lab Private Ltd bought a new position in Cabot Oil & Gas Co. (NYSE:COG) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 57,266 shares of the oil and gas exploration company’s stock, valued at approximately $1,373,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in COG. Motco raised its holdings in shares of Cabot Oil & Gas by 3,034.3% during the first quarter. Motco now owns 4,200 shares of the oil and gas exploration company’s stock valued at $101,000 after purchasing an additional 4,066 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in shares of Cabot Oil & Gas by 119.3% during the fourth quarter. Glenmede Trust Co. NA now owns 5,008 shares of the oil and gas exploration company’s stock valued at $143,000 after purchasing an additional 2,724 shares during the last quarter. Avestar Capital LLC purchased a new position in shares of Cabot Oil & Gas during the fourth quarter valued at approximately $151,000. Massey Quick Simon & CO. LLC raised its holdings in shares of Cabot Oil & Gas by 134.2% during the first quarter. Massey Quick Simon & CO. LLC now owns 6,850 shares of the oil and gas exploration company’s stock valued at $164,000 after purchasing an additional 3,925 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of Cabot Oil & Gas during the fourth quarter valued at approximately $186,000. 95.09% of the stock is owned by hedge funds and other institutional investors.
Shares of Cabot Oil & Gas opened at $23.11 on Friday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.42 and a quick ratio of 2.40. The firm has a market capitalization of $10.91 billion, a PE ratio of 40.95, a PEG ratio of 0.78 and a beta of 0.38. Cabot Oil & Gas Co. has a 1 year low of $21.71 and a 1 year high of $29.57.
Cabot Oil & Gas (NYSE:COG) last announced its quarterly earnings data on Friday, April 27th. The oil and gas exploration company reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.01. The firm had revenue of $473.20 million during the quarter, compared to analysts’ expectations of $471.25 million. Cabot Oil & Gas had a net margin of 6.51% and a return on equity of 10.56%. The company’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 earnings per share. research analysts predict that Cabot Oil & Gas Co. will post 1.03 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 30th. Stockholders of record on Wednesday, May 16th were paid a $0.06 dividend. The ex-dividend date was Tuesday, May 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.04%. Cabot Oil & Gas’s dividend payout ratio (DPR) is presently 50.00%.
Several research firms have recently weighed in on COG. ValuEngine raised shares of Cabot Oil & Gas from a “sell” rating to a “hold” rating in a report on Friday, June 1st. Morgan Stanley decreased their price objective on shares of Cabot Oil & Gas from $32.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, May 24th. Stifel Nicolaus began coverage on shares of Cabot Oil & Gas in a report on Tuesday, May 22nd. They set a “hold” rating and a $22.00 price objective for the company. Bank of America cut shares of Cabot Oil & Gas from a “buy” rating to an “underperform” rating and set a $27.00 price objective for the company. in a report on Thursday, May 10th. Finally, LADENBURG THALM/SH SH set a $34.00 price objective on shares of Cabot Oil & Gas and gave the company a “buy” rating in a report on Friday, April 27th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $30.11.
In other news, Director Robert Kelley acquired 50,000 shares of Cabot Oil & Gas stock in a transaction dated Tuesday, May 29th. The stock was purchased at an average cost of $22.25 per share, with a total value of $1,112,500.00. Following the completion of the purchase, the director now directly owns 681,717 shares in the company, valued at approximately $15,168,203.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.
Cabot Oil & Gas 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 172,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; and the Eagle Ford Shale with approximately 79,000 net acres in the oil window of the play located in Atascosa, Frio, and La Salle Counties, Texas.
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