Cabot Oil & Gas Co. (NYSE:COG) Director Peter B. Delaney bought 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were bought at an average price of $19.28 per share, for a total transaction of $173,520.00. Following the completion of the acquisition, the director now owns 16,925 shares in the company, valued at approximately $326,314. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
NYSE COG traded down $0.17 during mid-day trading on Wednesday, reaching $19.16. 15,306,048 shares of the company’s stock traded hands, compared to its average volume of 6,224,031. Cabot Oil & Gas Co. has a 1-year low of $18.99 and a 1-year high of $27.65. The firm’s fifty day simple moving average is $22.89. The company has a current ratio of 2.70, a quick ratio of 2.75 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $8.11 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 0.73 and a beta of 0.53.
Cabot Oil & Gas (NYSE:COG) last issued its quarterly earnings data on Friday, July 26th. The oil and gas exploration company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. Cabot Oil & Gas had a return on equity of 34.79% and a net margin of 34.51%. The firm had revenue of $534.12 million during the quarter, compared to analyst estimates of $476.10 million. During the same quarter last year, the firm earned $0.13 EPS. Cabot Oil & Gas’s quarterly revenue was up 17.8% on a year-over-year basis. Equities analysts expect that Cabot Oil & Gas Co. will post 1.74 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be paid a dividend of $0.09 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.36 dividend on an annualized basis and a yield of 1.88%. Cabot Oil & Gas’s dividend payout ratio (DPR) is presently 31.86%.
COG has been the topic of several analyst reports. MKM Partners upgraded Cabot Oil & Gas from a “neutral” rating to a “buy” rating in a report on Monday. TheStreet downgraded Cabot Oil & Gas from a “b” rating to a “c+” rating in a report on Tuesday, July 9th. Morgan Stanley set a $23.00 target price on Cabot Oil & Gas and gave the company a “hold” rating in a report on Monday, June 24th. Zacks Investment Research downgraded Cabot Oil & Gas from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Finally, ValuEngine downgraded Cabot Oil & Gas from a “sell” rating to a “strong sell” rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $28.14.
Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Cabot Oil & Gas in the 4th quarter worth approximately $76,512,000. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in shares of Cabot Oil & Gas in the 1st quarter worth approximately $63,479,000. Neuberger Berman Group LLC lifted its holdings in shares of Cabot Oil & Gas by 10.4% in the 1st quarter. Neuberger Berman Group LLC now owns 14,287,550 shares of the oil and gas exploration company’s stock worth $372,905,000 after purchasing an additional 1,343,815 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in shares of Cabot Oil & Gas by 4,915.8% in the 2nd quarter. WINTON GROUP Ltd now owns 895,824 shares of the oil and gas exploration company’s stock worth $20,568,000 after purchasing an additional 877,964 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Cabot Oil & Gas by 109.6% in the 2nd quarter. KBC Group NV now owns 1,605,505 shares of the oil and gas exploration company’s stock worth $36,862,000 after purchasing an additional 839,408 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.
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 174,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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