Cabot Oil & Gas Co. (NYSE: COG) shares rose in value on Monday February 6 on heavier trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Investors turned cautious in early trading today with the Dow Jones Industrial Average DJIA, was off by 17 points, or 0.1%, to 20.054.
The S&P 500 SPX, -0.14% eased 5 points, or 0.2%, to 2,293, with seven of the 11 main sectors trading lower. Nearly all main sectors were trading lower, while materials and consumer staples led the losses.
The Nasdaq Composite COMP, -0.14% slipped 10 points, or 0.2%, at 5,144.
Analysts at J P Morgan Chase & Co upgraded shares of Cabot Oil & Gas Co. (NYSE: COG) from Neutral to Overweight today. The company currently has a rating of Overweight on the stock. A number of other analysts have spoken on the company recently, and the company has earned a consensus one-year price target of $27.78, higher than the opening price of $23.75, a difference of 11.82 percent. Cabot Oil & Gas Co. stock has a 52-week high of $26.74. Stock prices sometimes get a bounce to the upside when analysts upgrade a stock.
Shares of Cabot Oil & Gas Co. (NYSE: COG) opened at $23.75 yesterday trading between $23.46 and $24.23, and last traded at $23.51, which is an increase of $2.08 over the previous closing price.
Cabot Oil & Gas Co. (NYSE: COG) currently has a market cap of 10.93B.
Cabot Oil & Gas Co. (NYSE: COG) Average Daily Trading Volume
8,866,046 shares crossed the trading desk yesterday, 114 percent above the average, out of a total float 422,565,000. higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.
While increased trading for short periods will not mean much will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain substantial teams of analysts researching thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
Cabot Oil & Gas Co. (NYSE: COG) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, Cabot Oil & Gas Co. (NYSE: COG) now has a 50-day MA of $22.24 and 200-day MA of $23.35. It has traded in a 52-week range between $18.48 – 26.740 and today’s last price is 12.10%% lower than the 52 week high of $26.74.
Earnings growth is a critical factor to consider when buying stocks and investors look for companies that have raised their earnings at least 25% or more for the past 3 years.
DISCLOSURE: The views and opinions expressed in this article do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.