Los Angeles Capital Management & Equity Research Inc. Grows Position in Cabot Oil & Gas Co. (COG)

Los Angeles Capital Management & Equity Research Inc. increased its holdings in Cabot Oil & Gas Co. (NYSE:COG) by 2.7% in the third quarter, HoldingsChannel.com reports. The fund owned 6,311,496 shares of the oil and gas exploration company’s stock after purchasing an additional 167,025 shares during the quarter. Cabot Oil & Gas accounts for approximately 0.7% of Los Angeles Capital Management & Equity Research Inc.’s portfolio, making the stock its 16th largest position. Los Angeles Capital Management & Equity Research Inc.’s holdings in Cabot Oil & Gas were worth $142,135,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Piedmont Investment Advisors LLC purchased a new stake in Cabot Oil & Gas in the second quarter worth about $123,000. Cornerstone Wealth Management LLC purchased a new stake in Cabot Oil & Gas in the second quarter worth about $324,000. Cerebellum GP LLC lifted its stake in Cabot Oil & Gas by 198.9% in the third quarter. Cerebellum GP LLC now owns 7,671 shares of the oil and gas exploration company’s stock worth $173,000 after acquiring an additional 5,105 shares during the period. Parkwood LLC purchased a new stake in Cabot Oil & Gas in the second quarter worth about $212,000. Finally, Welch & Forbes LLC purchased a new stake in shares of Cabot Oil & Gas during the second quarter valued at about $214,000. 96.03% of the stock is owned by institutional investors.

Several analysts have commented on the stock. Zacks Investment Research lowered shares of Cabot Oil & Gas from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. ValuEngine raised shares of Cabot Oil & Gas from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Piper Jaffray Companies set a $26.00 price target on shares of Cabot Oil & Gas and gave the company a “buy” rating in a research report on Monday, October 8th. Morgan Stanley increased their price target on shares of Cabot Oil & Gas from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, July 12th. Finally, TheStreet raised shares of Cabot Oil & Gas from a “c” rating to a “b-” rating in a research report on Friday, October 26th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $28.95.

Shares of Cabot Oil & Gas stock opened at $25.99 on Tuesday. The company has a market capitalization of $10.59 billion, a P/E ratio of 54.15, a P/E/G ratio of 0.79 and a beta of 0.27. The company has a quick ratio of 1.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.58. Cabot Oil & Gas Co. has a 52 week low of $20.94 and a 52 week high of $29.57.

Cabot Oil & Gas (NYSE:COG) last announced its quarterly earnings data on Friday, October 26th. The oil and gas exploration company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). The company had revenue of $545.10 million during the quarter, compared to analysts’ expectations of $482.74 million. Cabot Oil & Gas had a net margin of 12.69% and a return on equity of 14.87%. The business’s revenue for the quarter was up 41.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 earnings per share. Analysts expect that Cabot Oil & Gas Co. will post 1.03 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Wednesday, November 7th will be given a $0.07 dividend. This is a positive change from Cabot Oil & Gas’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Tuesday, November 6th. Cabot Oil & Gas’s dividend payout ratio (DPR) is presently 50.00%.

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

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