Stephens Investment Management Group LLC boosted its stake in Cabot Oil & Gas Co. (NYSE:COG) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,215,026 shares of the oil and gas exploration company’s stock after buying an additional 22,627 shares during the period. Stephens Investment Management Group LLC owned approximately 0.29% of Cabot Oil & Gas worth $27,897,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Meridian Wealth Management LLC acquired a new position in Cabot Oil & Gas in the 1st quarter valued at about $25,000. Carroll Financial Associates Inc. grew its position in Cabot Oil & Gas by 192.9% in the 1st quarter. Carroll Financial Associates Inc. now owns 1,201 shares of the oil and gas exploration company’s stock valued at $31,000 after acquiring an additional 791 shares in the last quarter. Pearl River Capital LLC acquired a new position in Cabot Oil & Gas in the 1st quarter valued at about $32,000. Joseph P. Lucia & Associates LLC acquired a new position in Cabot Oil & Gas in the 1st quarter valued at about $40,000. Finally, Zions Bancorporation N.A. acquired a new position in shares of Cabot Oil & Gas during the first quarter worth about $55,000. Hedge funds and other institutional investors own 97.45% of the company’s stock.
A number of equities analysts have recently commented on COG shares. TheStreet downgraded Cabot Oil & Gas from a “b” rating to a “c+” rating in a research report on Tuesday, July 9th. ValuEngine downgraded Cabot Oil & Gas from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 27th. Tudor Pickering raised Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Friday, August 2nd. Williams Capital reissued a “hold” rating and set a $27.00 price objective on shares of Cabot Oil & Gas in a research report on Monday, July 22nd. Finally, Zacks Investment Research downgraded Cabot Oil & Gas from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $27.83.
In other Cabot Oil & Gas news, Director Peter B. Delaney bought 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was purchased at an average price of $19.28 per share, for a total transaction of $173,520.00. Following the completion of the purchase, the director now directly owns 16,925 shares in the company, valued at $326,314. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by insiders.
COG stock traded up $0.08 during trading on Friday, hitting $16.38. 148,607 shares of the company’s stock were exchanged, compared to its average volume of 10,032,931. The business has a 50-day moving average price of $20.96 and a two-hundred day moving average price of $24.30. The stock has a market capitalization of $7.11 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 0.65 and a beta of 0.51. Cabot Oil & Gas Co. has a 52-week low of $16.01 and a 52-week high of $27.65. The company has a current ratio of 2.70, a quick ratio of 2.61 and a debt-to-equity ratio of 0.52.
Cabot Oil & Gas (NYSE:COG) last posted its earnings results on Friday, July 26th. The oil and gas exploration company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.05. The firm had revenue of $534.12 million during the quarter, compared to analysts’ expectations of $476.10 million. Cabot Oil & Gas had a return on equity of 34.79% and a net margin of 34.51%. The firm’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 earnings per share. On average, equities research analysts anticipate that Cabot Oil & Gas Co. will post 1.74 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, August 7th. Cabot Oil & Gas’s payout ratio is 31.86%.
Cabot Oil & Gas announced that its board has authorized a stock repurchase program on Friday, July 26th that allows the company to buyback 25,000,000 shares. This buyback authorization allows the oil and gas exploration company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
About Cabot Oil & Gas
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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