Cabot Oil & Gas Target of Unusually Large Options Trading (COG)

Cabot Oil & Gas Co. (NYSE:COG) was the target of some unusual options trading activity on Monday. Investors bought 5,780 put options on the stock. This represents an increase of 1,162% compared to the typical volume of 458 put options.

NYSE COG opened at $24.35 on Tuesday. The firm has a market cap of $9.94 billion, a price-to-earnings ratio of 50.73, a P/E/G ratio of 0.77 and a beta of 0.41. Cabot Oil & Gas has a fifty-two week low of $21.48 and a fifty-two week high of $29.57. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.57.

Cabot Oil & Gas (NYSE:COG) last issued its quarterly earnings data on Friday, July 27th. The oil and gas exploration company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.05). Cabot Oil & Gas had a return on equity of 10.84% and a net margin of 7.75%. The business had revenue of $453.50 million during the quarter, compared to the consensus estimate of $384.57 million. During the same period in the prior year, the firm earned $0.14 EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, sell-side analysts predict that Cabot Oil & Gas will post 0.97 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the stock. Sanders Capital LLC grew its stake in shares of Cabot Oil & Gas by 1.1% in the second quarter. Sanders Capital LLC now owns 29,938,869 shares of the oil and gas exploration company’s stock worth $772,204,000 after purchasing an additional 319,100 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Cabot Oil & Gas by 59.4% during the second quarter. Bank of New York Mellon Corp now owns 10,968,674 shares of the oil and gas exploration company’s stock valued at $261,055,000 after acquiring an additional 4,087,096 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in Cabot Oil & Gas by 64.2% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,144,471 shares of the oil and gas exploration company’s stock valued at $146,238,000 after acquiring an additional 2,403,213 shares during the last quarter. Millennium Management LLC boosted its position in Cabot Oil & Gas by 19.9% during the second quarter. Millennium Management LLC now owns 5,947,652 shares of the oil and gas exploration company’s stock valued at $141,554,000 after acquiring an additional 986,353 shares during the last quarter. Finally, Schroder Investment Management Group boosted its position in Cabot Oil & Gas by 33.8% during the second quarter. Schroder Investment Management Group now owns 3,900,663 shares of the oil and gas exploration company’s stock valued at $92,290,000 after acquiring an additional 984,756 shares during the last quarter. 94.74% of the stock is currently owned by institutional investors.

Several research analysts have commented on COG shares. TD Securities started coverage on shares of Cabot Oil & Gas in a research report on Thursday, July 5th. They set a “buy” rating and a $29.00 price objective for the company. Piper Jaffray Companies set a $26.00 price objective on shares of Cabot Oil & Gas and gave the company a “buy” rating in a research report on Monday. Morgan Stanley downgraded shares of Cabot Oil & Gas from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $29.00 to $23.00 in a research report on Wednesday, September 26th. Evercore ISI upgraded shares of Cabot Oil & Gas from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $28.00 to $30.00 in a research report on Friday, September 7th. Finally, Susquehanna Bancshares upgraded shares of Cabot Oil & Gas from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $27.00 to $28.00 in a research report on Monday, July 30th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $29.19.

About Cabot Oil & Gas

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 172,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; and the Eagle Ford Shale with approximately 79,000 net acres in the oil window of the play located in Atascosa, Frio, and La Salle Counties, Texas.

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