Westpac Banking Corp Maintains Holdings in Cabot Oil & Gas Corporation (COG)

Westpac Banking Corp continued to hold its stake in shares of Cabot Oil & Gas Corporation (NYSE:COG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,003 shares of the oil and gas exploration company’s stock at the close of the second quarter. Westpac Banking Corp’s holdings in Cabot Oil & Gas Corporation were worth $677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Cabot Oil & Gas Corporation by 3.7% during the first quarter. Vanguard Group Inc. now owns 46,495,862 shares of the oil and gas exploration company’s stock valued at $1,111,717,000 after buying an additional 1,653,616 shares during the period. BlackRock Inc. lifted its stake in shares of Cabot Oil & Gas Corporation by 3,136.9% during the first quarter. BlackRock Inc. now owns 32,973,225 shares of the oil and gas exploration company’s stock valued at $788,389,000 after buying an additional 31,954,562 shares during the period. Sanders Capital LLC lifted its stake in shares of Cabot Oil & Gas Corporation by 5.5% during the second quarter. Sanders Capital LLC now owns 27,261,023 shares of the oil and gas exploration company’s stock valued at $739,422,000 after buying an additional 1,430,599 shares during the period. FMR LLC lifted its stake in shares of Cabot Oil & Gas Corporation by 32.7% during the first quarter. FMR LLC now owns 25,468,996 shares of the oil and gas exploration company’s stock valued at $608,964,000 after buying an additional 6,277,179 shares during the period. Finally, Neuberger Berman Group LLC lifted its stake in shares of Cabot Oil & Gas Corporation by 11.3% during the second 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 buying an additional 2,095,126 shares during the period. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the stock. Scotiabank set a $28.00 price objective on shares of Cabot Oil & Gas Corporation and gave the company a “buy” rating in a research note on Saturday, July 1st. Zacks Investment Research raised shares of Cabot Oil & Gas Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. BMO Capital Markets set a $30.00 price objective on shares of Cabot Oil & Gas Corporation and gave the company a “buy” rating in a research note on Sunday, July 30th. Barclays PLC reissued a “buy” rating and set a $28.00 price objective on shares of Cabot Oil & Gas Corporation in a research note on Wednesday, August 2nd. Finally, TheStreet downgraded shares of Cabot Oil & Gas Corporation from a “c” rating to a “d+” rating in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Cabot Oil & Gas Corporation presently has a consensus rating of “Buy” and an average price target of $29.67.

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In other news, insider Jeffrey W. Hutton sold 11,918 shares of Cabot Oil & Gas Corporation stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $26.79, for a total value of $319,283.22. Following the transaction, the insider now owns 635,124 shares of the company’s stock, valued at $17,014,971.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.

Shares of Cabot Oil & Gas Corporation (NYSE COG) opened at 26.33 on Wednesday. The stock has a 50 day moving average of $25.11 and a 200 day moving average of $23.97. The firm’s market cap is $12.18 billion. Cabot Oil & Gas Corporation has a 52-week low of $20.02 and a 52-week high of $27.14.

Cabot Oil & Gas Corporation (NYSE:COG) last posted its earnings results on Thursday, July 27th. The oil and gas exploration company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.01). The business had revenue of $460.50 million during the quarter, compared to analyst estimates of $454.76 million. Cabot Oil & Gas Corporation had a negative net margin of 10.95% and a positive return on equity of 4.68%. Cabot Oil & Gas Corporation’s revenue was up 86.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) earnings per share. Equities analysts predict that Cabot Oil & Gas Corporation will post $0.60 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Tuesday, August 8th. Cabot Oil & Gas Corporation’s dividend payout ratio is -54.05%.

About Cabot Oil & Gas Corporation

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

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