Ossiam boosted its holdings in Cabot Oil & Gas Co. (NYSE:COG) by 852.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,202 shares of the oil and gas exploration company’s stock after purchasing an additional 30,612 shares during the quarter. Ossiam’s holdings in Cabot Oil & Gas were worth $785,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of COG. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in shares of Cabot Oil & Gas during the 1st quarter worth approximately $63,479,000. Schroder Investment Management Group increased its holdings in shares of Cabot Oil & Gas by 34.7% during the second quarter. Schroder Investment Management Group now owns 6,738,311 shares of the oil and gas exploration company’s stock worth $154,712,000 after purchasing an additional 1,737,102 shares during the period. Renaissance Technologies LLC bought a new position in shares of Cabot Oil & Gas during the second quarter worth approximately $31,542,000. Neuberger Berman Group LLC raised its position in shares of Cabot Oil & Gas by 10.4% in the first quarter. Neuberger Berman Group LLC now owns 14,287,550 shares of the oil and gas exploration company’s stock valued at $372,905,000 after buying an additional 1,343,815 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of Cabot Oil & Gas by 240.2% in the second quarter. Teacher Retirement System of Texas now owns 1,520,242 shares of the oil and gas exploration company’s stock valued at $34,905,000 after buying an additional 1,073,407 shares in the last quarter. 96.66% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on COG shares. Morgan Stanley set a $23.00 price target on Cabot Oil & Gas and gave the stock a “hold” rating in a research report on Monday, June 24th. TD Securities dropped their price objective on Cabot Oil & Gas from $29.00 to $27.00 and set a “buy” rating for the company in a report on Monday, July 29th. Citigroup cut their target price on Cabot Oil & Gas from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Zacks Investment Research cut Cabot Oil & Gas from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Finally, Wells Fargo & Co upgraded Cabot Oil & Gas from a “market perform” rating to an “outperform” rating and set a $28.00 price target on the stock in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. Cabot Oil & Gas currently has an average rating of “Buy” and an average price target of $27.39.
Shares of COG traded up $0.18 during midday trading on Wednesday, hitting $18.77. The company’s stock had a trading volume of 578,436 shares, compared to its average volume of 7,022,451. Cabot Oil & Gas Co. has a one year low of $16.01 and a one year high of $27.65. The company’s fifty day simple moving average is $17.76 and its two-hundred day simple moving average is $23.31. The company has a quick ratio of 2.61, a current ratio of 2.70 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53.
Cabot Oil & Gas (NYSE:COG) last announced its quarterly earnings data on Friday, July 26th. The oil and gas exploration company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.05. The business had revenue of $534.12 million during the quarter, compared to the consensus estimate of $476.10 million. Cabot Oil & Gas had a return on equity of 34.79% and a net margin of 34.51%. Cabot Oil & Gas’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 EPS. On average, research analysts predict that Cabot Oil & Gas Co. will post 1.7 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.92%. The ex-dividend date was Wednesday, August 7th. Cabot Oil & Gas’s payout ratio is 31.86%.
Cabot Oil & Gas announced that its board has authorized a stock buyback plan on Friday, July 26th that permits the company to buyback 25,000,000 outstanding shares. This buyback authorization permits the oil and gas exploration company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
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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