Cabot Oil & Gas Co. (COG) Shares Bought by US Bancorp DE

US Bancorp DE grew its holdings in Cabot Oil & Gas Co. (NYSE:COG) by 29.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 681,483 shares of the oil and gas exploration company’s stock after purchasing an additional 154,644 shares during the period. US Bancorp DE owned approximately 0.16% of Cabot Oil & Gas worth $15,348,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in COG. Bank of New York Mellon Corp lifted its holdings in shares of Cabot Oil & Gas by 59.4% in 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 purchasing an additional 4,087,096 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Cabot Oil & Gas by 64.2% in 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 purchasing an additional 2,403,213 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Cabot Oil & Gas by 67.5% in the second quarter. Point72 Asset Management L.P. now owns 3,410,628 shares of the oil and gas exploration company’s stock valued at $81,173,000 after purchasing an additional 1,374,966 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Cabot Oil & Gas in the second quarter valued at $27,858,000. Finally, Millennium Management LLC lifted its holdings in shares of Cabot Oil & Gas by 19.9% in 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 purchasing an additional 986,353 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Shares of NYSE:COG opened at $25.79 on Wednesday. The company has a quick ratio of 1.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.58. Cabot Oil & Gas Co. has a 1 year low of $20.94 and a 1 year high of $29.57. The firm has a market cap of $10.59 billion, a P/E ratio of 53.73, a PEG ratio of 0.79 and a beta of 0.27.

Cabot Oil & Gas (NYSE:COG) last announced its quarterly earnings data on Friday, October 26th. The oil and gas exploration company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). Cabot Oil & Gas had a return on equity of 14.87% and a net margin of 12.69%. The firm had revenue of $545.10 million for the quarter, compared to analysts’ expectations of $482.74 million. During the same quarter in the prior year, the business posted $0.07 earnings per share. Cabot Oil & Gas’s revenue was up 41.4% on a year-over-year basis. Analysts anticipate that Cabot Oil & Gas Co. will post 1.03 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Wednesday, November 7th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.09%. This is a positive change from Cabot Oil & Gas’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, November 6th. Cabot Oil & Gas’s dividend payout ratio (DPR) is currently 50.00%.

COG has been the subject of a number of research analyst reports. Evercore ISI upgraded Cabot Oil & Gas from an “in-line” rating to an “outperform” rating and increased their target price for the company from $28.00 to $30.00 in a report on Friday, September 7th. Morgan Stanley lowered Cabot Oil & Gas from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $29.00 to $23.00 in a report on Wednesday, September 26th. Zacks Investment Research lowered Cabot Oil & Gas from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. TD Securities restated a “buy” rating and issued a $30.00 target price (up previously from $29.00) on shares of Cabot Oil & Gas in a report on Friday, July 27th. Finally, Wells Fargo & Co lowered Cabot Oil & Gas from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. Cabot Oil & Gas has a consensus rating of “Hold” and an average target price of $28.95.

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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.

See Also: No Load Funds

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

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