Copeland Capital Management LLC increased its holdings in Cabot Oil & Gas Co. (NYSE:COG) by 25.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 547,264 shares of the oil and gas exploration company’s stock after purchasing an additional 112,288 shares during the quarter. Copeland Capital Management LLC owned 0.13% of Cabot Oil & Gas worth $9,616,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its holdings in Cabot Oil & Gas by 2.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,035,927 shares of the oil and gas exploration company’s stock worth $53,341,000 after purchasing an additional 68,519 shares during the period. Mengis Capital Management Inc. raised its holdings in Cabot Oil & Gas by 9.2% in the 3rd quarter. Mengis Capital Management Inc. now owns 128,655 shares of the oil and gas exploration company’s stock worth $2,260,000 after purchasing an additional 10,801 shares during the period. Tower Research Capital LLC TRC acquired a new position in Cabot Oil & Gas in the 3rd quarter worth about $303,000. Knuff & Co LLC raised its holdings in Cabot Oil & Gas by 35.5% in the 3rd quarter. Knuff & Co LLC now owns 43,245 shares of the oil and gas exploration company’s stock worth $760,000 after purchasing an additional 11,320 shares during the period. Finally, Carillon Tower Advisers Inc. acquired a new position in Cabot Oil & Gas in the 3rd quarter worth about $13,417,000. 96.51% of the stock is owned by institutional investors.
In related news, Chairman Dan O. Dinges purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average price of $16.34 per share, with a total value of $326,800.00. Following the completion of the acquisition, the chairman now owns 3,104,405 shares in the company, valued at $50,725,977.70. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rhys J. Best purchased 7,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average cost of $16.31 per share, with a total value of $122,325.00. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 44,255 shares of company stock valued at $721,896. Insiders own 1.90% of the company’s stock.
Shares of Cabot Oil & Gas stock opened at $17.74 on Tuesday. The business has a 50 day simple moving average of $18.06 and a two-hundred day simple moving average of $20.97. Cabot Oil & Gas Co. has a 12 month low of $16.01 and a 12 month high of $27.65. The stock has a market capitalization of $7.49 billion, a P/E ratio of 15.70, a PEG ratio of 0.76 and a beta of 0.56. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.43 and a quick ratio of 1.37.
Cabot Oil & Gas (NYSE:COG) last announced its earnings results on Thursday, October 24th. The oil and gas exploration company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Cabot Oil & Gas had a return on equity of 34.92% and a net margin of 34.86%. The business had revenue of $429.11 million during the quarter, compared to analysts’ expectations of $453.73 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The business’s revenue was down 21.3% compared to the same quarter last year. As a group, research analysts anticipate that Cabot Oil & Gas Co. will post 1.6 EPS for the current fiscal year.
Cabot Oil & Gas announced that its board has approved a stock repurchase plan on Friday, July 26th that authorizes the company to repurchase 25,000,000 shares. This repurchase authorization authorizes the oil and gas exploration company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Wednesday, November 6th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Tuesday, November 5th. This is a boost from Cabot Oil & Gas’s previous quarterly dividend of $0.09. Cabot Oil & Gas’s dividend payout ratio (DPR) is currently 35.40%.
A number of research firms recently weighed in on COG. Susquehanna Bancshares cut Cabot Oil & Gas from a “positive” rating to a “neutral” rating and set a $21.00 price target for the company. in a report on Monday, October 28th. Citigroup reduced their target price on Cabot Oil & Gas from $28.00 to $26.00 and set a “buy” rating for the company in a report on Friday, August 2nd. ValuEngine raised Cabot Oil & Gas from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Williams Capital set a $22.00 target price on Cabot Oil & Gas and gave the company a “hold” rating in a report on Monday, September 30th. Finally, Tudor Pickering raised Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. Cabot Oil & Gas has an average rating of “Buy” and an average price target of $27.07.
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 174,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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