Cabot Oil & Gas Co. (NYSE:COG) Shares Sold by Cabot Wellington LLC

Cabot Wellington LLC lowered its stake in shares of Cabot Oil & Gas Co. (NYSE:COG) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 353,307 shares of the oil and gas exploration company’s stock after selling 9,299 shares during the quarter. Cabot Oil & Gas comprises about 3.8% of Cabot Wellington LLC’s holdings, making the stock its 4th largest position. Cabot Wellington LLC’s holdings in Cabot Oil & Gas were worth $6,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of COG. Penn Capital Management Co. Inc. increased its position in Cabot Oil & Gas by 29.5% during the 2nd 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 purchasing an additional 20,399 shares in the last quarter. Schroder Investment Management Group boosted its position in Cabot Oil & Gas by 34.7% during the 2nd quarter. Schroder Investment Management Group now owns 6,738,311 shares of the oil and gas exploration company’s stock worth $154,712,000 after purchasing an additional 1,737,102 shares during the period. Keudell Morrison Wealth Management acquired a new stake in Cabot Oil & Gas in the 2nd quarter valued at $1,275,000. Profund Advisors LLC increased its holdings in Cabot Oil & Gas by 4.1% in the 2nd quarter. Profund Advisors LLC now owns 17,109 shares of the oil and gas exploration company’s stock valued at $393,000 after purchasing an additional 669 shares in the last quarter. Finally, AXA increased its holdings in Cabot Oil & Gas by 0.7% in the 2nd quarter. AXA now owns 141,214 shares of the oil and gas exploration company’s stock valued at $3,243,000 after purchasing an additional 1,012 shares in the last quarter. 95.83% of the stock is owned by institutional investors.

A number of research analysts have commented on COG shares. ValuEngine upgraded Cabot Oil & Gas from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Susquehanna Bancshares lowered Cabot Oil & Gas from a “positive” rating to a “neutral” rating and set a $21.00 target price for the company. in a research note on Monday, October 28th. Wells Fargo & Co dropped their target price on Cabot Oil & Gas from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, January 9th. Wolfe Research raised Cabot Oil & Gas from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 19th. Finally, Zacks Investment Research cut Cabot Oil & Gas from a “hold” rating to a “strong sell” rating and set a $14.00 price target for the company. in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Cabot Oil & Gas currently has a consensus rating of “Hold” and a consensus price target of $22.60.

NYSE:COG traded up $0.20 on Thursday, reaching $17.71. The stock had a trading volume of 122,440 shares, compared to its average volume of 6,685,713. The company has a 50-day moving average of $16.82 and a 200 day moving average of $18.27. The company has a current ratio of 1.43, a quick ratio of 1.37 and a debt-to-equity ratio of 0.51. The stock has a market cap of $7.14 billion, a P/E ratio of 15.65 and a beta of 0.49. Cabot Oil & Gas Co. has a 12-month low of $15.61 and a 12-month high of $27.65.

Cabot Oil & Gas (NYSE:COG) last announced 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 Zacks’ consensus estimate of $0.25 by $0.04. The business had revenue of $429.11 million for the quarter, compared to analyst estimates of $453.73 million. Cabot Oil & Gas had a return on equity of 34.92% and a net margin of 34.86%. The company’s revenue for the quarter was down 21.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. On average, equities analysts predict that Cabot Oil & Gas Co. will post 1.63 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 2.26%. Cabot Oil & Gas’s dividend payout ratio (DPR) is presently 35.40%.

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.

Further Reading: Recession

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

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