Knuff & Co LLC Lowers Stock Position in Cabot Oil & Gas Co. (NYSE:COG)

Knuff & Co LLC reduced its stake in Cabot Oil & Gas Co. (NYSE:COG) by 44.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,925 shares of the oil and gas exploration company’s stock after selling 25,550 shares during the quarter. Knuff & Co LLC’s holdings in Cabot Oil & Gas were worth $733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Penn Capital Management Co. Inc. raised its stake in shares of Cabot Oil & Gas by 29.5% during the second quarter. Penn Capital Management Co. Inc. now owns 89,489 shares of the oil and gas exploration company’s stock worth $2,055,000 after acquiring an additional 20,399 shares in the last quarter. Rational Advisors LLC raised its stake in shares of Cabot Oil & Gas by 951.7% during the second quarter. Rational Advisors LLC now owns 2,219 shares of the oil and gas exploration company’s stock worth $51,000 after acquiring an additional 2,008 shares in the last quarter. Corient Capital Partners LLC purchased a new position in shares of Cabot Oil & Gas during the second quarter worth approximately $1,145,000. Allianz Asset Management GmbH raised its stake in shares of Cabot Oil & Gas by 6.0% during the second quarter. Allianz Asset Management GmbH now owns 717,138 shares of the oil and gas exploration company’s stock worth $16,465,000 after acquiring an additional 40,353 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Cabot Oil & Gas during the second quarter worth approximately $243,000. 95.63% of the stock is currently owned by institutional investors and hedge funds.

In other Cabot Oil & Gas news, CEO Dan O. Dinges bought 16,755 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were purchased at an average price of $16.28 per share, for a total transaction of $272,771.40. Following the acquisition, the chief executive officer now owns 3,104,405 shares in the company, valued at approximately $50,539,713.40. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Rhys J. Best bought 7,500 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were acquired at an average price of $16.31 per share, for a total transaction of $122,325.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 53,255 shares of company stock worth $895,416. 1.90% of the stock is currently owned by company insiders.

Several brokerages have recently issued reports on COG. ValuEngine cut shares of Cabot Oil & Gas from a “sell” rating to a “strong sell” rating in a report on Saturday, July 27th. MKM Partners upgraded shares of Cabot Oil & Gas from a “neutral” rating to a “buy” rating in a report on Monday, July 29th. Williams Capital restated a “hold” rating and issued a $22.00 target price on shares of Cabot Oil & Gas in a report on Thursday, August 22nd. Citigroup cut their target price on shares of Cabot Oil & Gas from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Wells Fargo & Co upgraded shares of Cabot Oil & Gas from a “market perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $27.54.

NYSE:COG traded up $0.43 during trading hours on Thursday, hitting $17.22. The company had a trading volume of 343,417 shares, compared to its average volume of 9,974,774. The company has a market capitalization of $7.17 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51. The stock has a 50-day moving average price of $19.24 and a 200 day moving average price of $23.79. Cabot Oil & Gas Co. has a 52 week low of $16.01 and a 52 week high of $27.65. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.70 and a quick ratio of 2.61.

Cabot Oil & Gas (NYSE:COG) last released its quarterly earnings results on Friday, July 26th. The oil and gas exploration company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.05. The business had revenue of $534.12 million for the quarter, compared to analysts’ expectations of $476.10 million. Cabot Oil & Gas had a net margin of 34.51% and a return on equity of 34.79%. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 earnings per share. Analysts anticipate that Cabot Oil & Gas Co. will post 1.74 EPS for the current fiscal year.

Cabot Oil & Gas announced that its Board of Directors has approved a share buyback plan on Friday, July 26th that allows the company to buyback 25,000,000 outstanding shares. This buyback authorization allows the oil and gas exploration company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Wednesday, August 7th. Cabot Oil & Gas’s dividend payout ratio (DPR) is currently 31.86%.

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

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