Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Cabot Oil & Gas Corporation (NYSE:COG) by 64.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,101 shares of the oil and gas exploration company’s stock after purchasing an additional 41,853 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Cabot Oil & Gas were worth $2,865,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. acquired a new position in Cabot Oil & Gas during the second quarter worth $100,000. IFP Advisors Inc grew its holdings in Cabot Oil & Gas by 11.1% during the second quarter. IFP Advisors Inc now owns 4,569 shares of the oil and gas exploration company’s stock worth $115,000 after acquiring an additional 457 shares during the period. Parallel Advisors LLC grew its holdings in Cabot Oil & Gas by 1.4% during the second quarter. Parallel Advisors LLC now owns 5,050 shares of the oil and gas exploration company’s stock worth $126,000 after acquiring an additional 71 shares during the period. Pinebridge Investments L.P. acquired a new position in Cabot Oil & Gas during the second quarter worth $163,000. Finally, Reliance Trust Co. of Delaware acquired a new stake in Cabot Oil & Gas in the third quarter valued at $210,000. Institutional investors and hedge funds own 95.69% of the company’s stock.
Several research firms have weighed in on COG. Williams Capital set a $30.00 target price on Cabot Oil & Gas and gave the company a “hold” rating in a report on Monday, October 30th. Cowen reissued a “buy” rating and issued a $30.00 target price on shares of Cabot Oil & Gas in a report on Tuesday, September 12th. Zacks Investment Research raised Cabot Oil & Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. Barclays increased their price objective on Cabot Oil & Gas from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Finally, BMO Capital Markets set a $30.00 price objective on Cabot Oil & Gas and gave the company a “buy” rating in a research note on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $30.59.
In related news, Chairman Dan O. Dinges sold 66,610 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $27.92, for a total value of $1,859,751.20. Following the sale, the chairman now owns 2,887,018 shares of the company’s stock, valued at approximately $80,605,542.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Kelley purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was bought at an average cost of $27.47 per share, for a total transaction of $54,940.00. Following the acquisition, the director now owns 619,500 shares in the company, valued at approximately $17,017,665. The disclosure for this purchase can be found here. 1.60% of the stock is currently owned by company insiders.
Cabot Oil & Gas Corporation (NYSE COG) traded down $0.28 during mid-day trading on Wednesday, hitting $28.05. The stock had a trading volume of 3,585,958 shares, compared to its average volume of 5,958,518. Cabot Oil & Gas Corporation has a fifty-two week low of $20.55 and a fifty-two week high of $29.57. The company has a current ratio of 1.64, a quick ratio of 1.61 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $13,213.87, a price-to-earnings ratio of 75.18, a P/E/G ratio of 1.93 and a beta of 0.52.
Cabot Oil & Gas (NYSE:COG) last issued its quarterly earnings data on Friday, October 27th. The oil and gas exploration company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Cabot Oil & Gas had a negative net margin of 8.80% and a positive return on equity of 6.63%. The business had revenue of $385.40 million for the quarter, compared to analyst estimates of $400.85 million. During the same quarter last year, the business earned ($0.04) EPS. Cabot Oil & Gas’s revenue for the quarter was up 24.2% compared to the same quarter last year. research analysts expect that Cabot Oil & Gas Corporation will post 0.49 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Wednesday, November 8th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, November 7th. This represents a $0.20 dividend on an annualized basis and a yield of 0.71%. Cabot Oil & Gas’s dividend payout ratio (DPR) is presently -64.51%.
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About Cabot Oil & Gas
Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties. The Company operates in the segment of natural gas and oil development, exploitation, exploration and production, in the continental United States. Its assets are concentrated in areas with known hydrocarbon resources, which are conducive to multi-well, repeatable drilling programs.
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