Cabot Oil & Gas Co. (NYSE:COG)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $15.96 and last traded at $16.00, with a volume of 6630111 shares changing hands. The stock had previously closed at $16.39.
A number of research analysts have issued reports on COG shares. TD Securities reduced their price objective on shares of Cabot Oil & Gas from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. Susquehanna Bancshares downgraded shares of Cabot Oil & Gas from a “positive” rating to a “neutral” rating and set a $21.00 target price on the stock. in a research report on Monday, October 28th. Wolfe Research upgraded shares of Cabot Oil & Gas from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 19th. MKM Partners upgraded shares of Cabot Oil & Gas from a “neutral” rating to a “buy” rating in a research note on Monday, July 29th. Finally, Williams Capital set a $22.00 price target on shares of Cabot Oil & Gas and gave the stock a “hold” rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. Cabot Oil & Gas currently has a consensus rating of “Buy” and an average target price of $26.61.
The company’s fifty day moving average is $18.06 and its 200-day moving average is $20.59. The company has a market capitalization of $7.41 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 0.76 and a beta of 0.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.37 and a current ratio of 1.43.
Cabot Oil & Gas (NYSE:COG) last released its earnings results on Thursday, October 24th. The oil and gas exploration company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.04. The company had revenue of $429.11 million during the quarter, compared to analyst estimates of $453.73 million. Cabot Oil & Gas had a net margin of 34.86% and a return on equity of 34.92%. The firm’s quarterly revenue was down 21.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. On average, sell-side analysts expect that Cabot Oil & Gas Co. will post 1.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Wednesday, November 6th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.49%. This is a positive change from Cabot Oil & Gas’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Tuesday, November 5th. Cabot Oil & Gas’s dividend payout ratio is currently 35.40%.
Cabot Oil & Gas announced that its board has initiated a stock buyback program on Friday, July 26th that permits the company to repurchase 25,000,000 shares. This repurchase authorization permits the oil and gas exploration company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
A number of institutional investors have recently added to or reduced their stakes in COG. Rational Advisors LLC grew its holdings in Cabot Oil & Gas by 61.2% during the 3rd quarter. Rational Advisors LLC now owns 3,576 shares of the oil and gas exploration company’s stock valued at $63,000 after buying an additional 1,357 shares in the last quarter. Copeland Capital Management LLC grew its holdings in Cabot Oil & Gas by 25.8% during the 3rd quarter. Copeland Capital Management LLC now owns 547,264 shares of the oil and gas exploration company’s stock valued at $9,616,000 after buying an additional 112,288 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Cabot Oil & Gas by 2.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,035,927 shares of the oil and gas exploration company’s stock valued at $53,341,000 after buying an additional 68,519 shares in the last quarter. Mengis Capital Management Inc. grew its holdings in Cabot Oil & Gas by 9.2% during the 3rd quarter. Mengis Capital Management Inc. now owns 128,655 shares of the oil and gas exploration company’s stock valued at $2,260,000 after buying an additional 10,801 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in Cabot Oil & Gas during the 3rd quarter valued at approximately $303,000. 96.97% of the stock is owned by institutional investors.
Cabot Oil & Gas Company Profile (NYSE:COG)
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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