Norinchukin Bank The boosted its stake in shares of Cabot Oil & Gas Co. (NYSE:COG) by 10.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,744 shares of the oil and gas exploration company’s stock after acquiring an additional 5,591 shares during the period. Norinchukin Bank The’s holdings in Cabot Oil & Gas were worth $1,278,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of COG. Bank of New York Mellon Corp increased its stake in Cabot Oil & Gas by 59.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,968,674 shares of the oil and gas exploration company’s stock worth $261,055,000 after acquiring an additional 4,087,096 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake in Cabot Oil & Gas by 64.2% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,144,471 shares of the oil and gas exploration company’s stock worth $146,238,000 after acquiring an additional 2,403,213 shares during the period. Point72 Asset Management L.P. increased its stake in Cabot Oil & Gas by 67.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,410,628 shares of the oil and gas exploration company’s stock worth $81,173,000 after acquiring an additional 1,374,966 shares during the period. Marshall Wace LLP bought a new position in Cabot Oil & Gas during the 2nd quarter worth $27,858,000. Finally, Millennium Management LLC increased its stake in Cabot Oil & Gas by 19.9% during the 2nd quarter. Millennium Management LLC now owns 5,947,652 shares of the oil and gas exploration company’s stock worth $141,554,000 after acquiring an additional 986,353 shares during the period. Hedge funds and other institutional investors own 94.60% of the company’s stock.
Shares of COG opened at $25.59 on Friday. Cabot Oil & Gas Co. has a 52-week low of $20.94 and a 52-week high of $29.57. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 1.69. The firm has a market capitalization of $11.12 billion, a PE ratio of 53.31, a price-to-earnings-growth ratio of 0.84 and a beta of 0.27.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 16th. Investors of record on Wednesday, November 7th were issued a dividend of $0.07 per share. This is an increase from Cabot Oil & Gas’s previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, November 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.09%. Cabot Oil & Gas’s dividend payout ratio (DPR) is 58.33%.
A number of research firms have commented on COG. Tudor Pickering lowered Cabot Oil & Gas from a “buy” rating to a “hold” rating in a research note on Thursday, November 15th. Goldman Sachs Group lowered Cabot Oil & Gas from a “buy” rating to a “neutral” rating and set a $29.00 price target on the stock. in a research note on Tuesday. Zacks Investment Research reiterated a “buy” rating and issued a $27.00 price target on shares of Cabot Oil & Gas in a research note on Monday, November 12th. Morgan Stanley lifted their price target on Cabot Oil & Gas from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday. Finally, ValuEngine upgraded Cabot Oil & Gas from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $28.67.
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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 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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