Trading Report: The Candriam Luxembourg S.C.A. invests in Cabot Oil & Gas Corp. (COG) Shares

The Candriam Luxembourg S.C.A. invests in Cabot Oil & Gas Corp. (COG) Shares

Candriam Luxembourg S.C.A. increased its stake in shares of Cabot Oil & Gas Corp. (NYSE:COG) by 58.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,020 shares of the oil and gas exploration company’s stock after buying an additional 5,898 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Cabot Oil & Gas Corp. were worth $412,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COG. Financial Architects Inc bought a new position in Cabot Oil & Gas Corp. during the second quarter valued at $106,000. BlueMountain Capital Management LLC bought a new position in Cabot Oil & Gas Corp. during the first quarter valued at $124,000. Acadian Asset Management LLC bought a new position in Cabot Oil & Gas Corp. during the second quarter valued at $247,000. Cypress Asset Management Inc. TX bought a new position in Cabot Oil & Gas Corp. during the second quarter valued at $256,000. Finally, Loeb Partners Corp bought a new position in Cabot Oil & Gas Corp. during the second quarter valued at $257,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

Cabot Oil & Gas Corp. (NYSE:COG) traded up 0.93% on Wednesday, reaching $23.86. 4,251,142 shares of the company traded hands. Cabot Oil & Gas Corp. has a 1-year low of $14.88 and a 1-year high of $26.74. The stock has a 50 day moving average of $25.15 and a 200-day moving average of $24.47. The stock’s market capitalization is $11.10 billion.

Cabot Oil & Gas Corp. (NYSE:COG) last posted its earnings results on Friday, July 29th. The oil and gas exploration company reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.01. Cabot Oil & Gas Corp. had a negative net margin of 21.59% and a negative return on equity of 4.16%. The company had revenue of $246.80 million for the quarter, compared to analysts’ expectations of $270.13 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. Cabot Oil & Gas Corp.’s revenue for the quarter was down 19.4% compared to the same quarter last year. On average, equities analysts anticipate that Cabot Oil & Gas Corp. will post ($0.16) EPS for the current year.

A number of analysts have commented on the stock. Raymond James Financial Inc. raised shares of Cabot Oil & Gas Corp. from a “market perform” rating to a “strong-buy” rating and upped their target price for the company from $25.57 to $30.00 in a report on Friday, September 23rd. Williams Capital assumed coverage on shares of Cabot Oil & Gas Corp. in a report on Monday, August 29th. They set a “buy” rating and a $30.00 target price for the company. Deutsche Bank AG reduced their target price on shares of Cabot Oil & Gas Corp. from $24.00 to $23.00 and set a “hold” rating for the company in a report on Tuesday, June 14th. Drexel Hamilton upped their target price 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. Finally, Scotiabank raised shares of Cabot Oil & Gas Corp. from a “sector perform” rating to a “sector outperform” rating and set a $30.00 target price for the company in a report on Saturday, August 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $27.83.

In other Cabot Oil & Gas Corp. news, insider George Kevin Cunningham sold 3,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $908,747.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by company insiders.

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.

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