First Trust Advisors LP Has $8.62 Million Holdings in Cabot Oil & Gas Co. (NYSE:COG)

First Trust Advisors LP lowered its position in shares of Cabot Oil & Gas Co. (NYSE:COG) by 38.2% during the third quarter, Holdings Channel reports. The fund owned 490,822 shares of the oil and gas exploration company’s stock after selling 303,751 shares during the quarter. First Trust Advisors LP’s holdings in Cabot Oil & Gas were worth $8,624,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Unigestion Holding SA grew its position in Cabot Oil & Gas by 48.3% in the third quarter. Unigestion Holding SA now owns 730,947 shares of the oil and gas exploration company’s stock worth $12,843,000 after acquiring an additional 238,051 shares in the last quarter. Keybank National Association OH bought a new stake in Cabot Oil & Gas in the third quarter worth approximately $482,000. Abacus Planning Group Inc. bought a new stake in Cabot Oil & Gas in the third quarter worth approximately $262,000. Creative Planning grew its position in Cabot Oil & Gas by 37.1% in the third quarter. Creative Planning now owns 21,616 shares of the oil and gas exploration company’s stock worth $380,000 after acquiring an additional 5,852 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its position in Cabot Oil & Gas by 33.3% in the third quarter. IFM Investors Pty Ltd now owns 46,242 shares of the oil and gas exploration company’s stock worth $812,000 after acquiring an additional 11,555 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

NYSE COG opened at $17.17 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.37 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $18.09 and a 200 day simple moving average of $20.68. The company has a market cap of $7.41 billion, a P/E ratio of 9.77, a P/E/G ratio of 0.76 and a beta of 0.56. Cabot Oil & Gas Co. has a 1 year low of $16.01 and a 1 year high of $27.65.

Cabot Oil & Gas (NYSE:COG) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas exploration company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.04. The business had revenue of $429.11 million during the quarter, compared to the consensus estimate of $453.73 million. Cabot Oil & Gas had a net margin of 34.86% and a return on equity of 34.92%. Cabot Oil & Gas’s quarterly revenue was down 21.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 EPS. Equities research analysts forecast that Cabot Oil & Gas Co. will post 1.59 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Wednesday, November 6th were issued a dividend of $0.10 per share. This is an increase from Cabot Oil & Gas’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Tuesday, November 5th. Cabot Oil & Gas’s dividend payout ratio is currently 35.40%.

Cabot Oil & Gas announced that its board has initiated a stock buyback program on Friday, July 26th that permits the company to buyback 25,000,000 shares. This buyback authorization permits the oil and gas exploration company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Several analysts have commented on COG shares. Wells Fargo & Co decreased their target price on shares of Cabot Oil & Gas from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Citigroup decreased their target price on shares of 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. Williams Capital set a $22.00 target price on shares of Cabot Oil & Gas and gave the stock a “hold” rating in a research report on Monday, September 30th. Tudor Pickering raised shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Friday, August 2nd. Finally, ValuEngine raised shares of Cabot Oil & Gas from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $26.76.

Cabot Oil & Gas Company 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 174,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

Further Reading: G-20

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

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