Advisors Asset Management Inc. lowered its position in Cabot Oil & Gas Corp. (NYSE:COG) by 29.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,998 shares of the oil and gas exploration company’s stock after selling 13,672 shares during the period. Advisors Asset Management Inc.’s holdings in Cabot Oil & Gas Corp. were worth $826,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. First Manhattan Co. raised its stake in Cabot Oil & Gas Corp. by 149.2% in the third quarter. First Manhattan Co. now owns 3,900 shares of the oil and gas exploration company’s stock worth $100,000 after buying an additional 2,335 shares during the period. Financial Architects Inc acquired a new stake in Cabot Oil & Gas Corp. during the second quarter worth about $106,000. BlueMountain Capital Management LLC acquired a new stake in Cabot Oil & Gas Corp. during the first quarter worth about $124,000. Advisor Group Inc. acquired a new stake in Cabot Oil & Gas Corp. during the second quarter worth about $153,000. Finally, Mizuho Asset Management Co. Ltd. raised its stake in Cabot Oil & Gas Corp. by 96.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 6,202 shares of the oil and gas exploration company’s stock worth $160,000 after buying an additional 3,042 shares during the period. 94.75% of the stock is owned by hedge funds and other institutional investors.
Shares of Cabot Oil & Gas Corp. (NYSE:COG) traded up 2.87% during mid-day trading on Thursday, hitting $23.30. 5,653,300 shares of the company traded hands. The firm has a 50-day moving average price of $22.03 and a 200 day moving average price of $24.11. The firm’s market cap is $10.84 billion. Cabot Oil & Gas Corp. has a 52-week low of $14.88 and a 52-week high of $26.74.
Cabot Oil & Gas Corp. (NYSE:COG) last issued its earnings results on Friday, October 28th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.04). The company had revenue of $310.43 million for the quarter, compared to analysts’ expectations of $325.25 million. Cabot Oil & Gas Corp. had a negative net margin of 21.03% and a negative return on equity of 4.68%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.01) earnings per share. Equities research analysts anticipate that Cabot Oil & Gas Corp. will post ($0.22) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Thursday, November 10th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Tuesday, November 8th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.34%. Cabot Oil & Gas Corp.’s dividend payout ratio (DPR) is -14.55%.
A number of research firms have issued reports on COG. Raymond James Financial Inc. upgraded shares of Cabot Oil & Gas Corp. from a “market perform” rating to a “strong-buy” rating and increased their target price for the stock from $25.57 to $30.00 in a report on Friday, September 23rd. Williams Capital started coverage on shares of Cabot Oil & Gas Corp. in a report on Monday, August 29th. They issued a “buy” rating and a $30.00 price objective on the stock. Drexel Hamilton raised their price objective on shares of Cabot Oil & Gas Corp. from $31.00 to $35.00 and gave the company a “buy” rating in a report on Monday, August 15th. Scotiabank upgraded shares of Cabot Oil & Gas Corp. from a “sector perform” rating to a “sector outperform” rating and set a $30.00 price objective on the stock in a report on Saturday, August 13th. Finally, Barclays PLC raised their price objective on shares of Cabot Oil & Gas Corp. from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Thursday, September 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Cabot Oil & Gas Corp. has a consensus rating of “Buy” and an average price target of $26.77.
In other Cabot Oil & Gas Corp. news, insider George Kevin Cunningham sold 3,000 shares of the stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $25.25, for a total transaction of $75,750.00. Following the sale, the insider now directly owns 35,990 shares of the company’s stock, valued at $908,747.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.
Cabot Oil & Gas Corp. Company Profile
Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties. The Company operates in the segment of natural gas and oil development, exploitation, exploration and production, in the continental United States. Its assets are concentrated in areas with known hydrocarbon resources, which are conducive to multi-well, repeatable drilling programs.