Quantamental Technologies LLC grew its stake in shares of Cabot Oil & Gas Co. (NYSE:COG) by 52.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,836 shares of the oil and gas exploration company’s stock after buying an additional 6,812 shares during the quarter. Quantamental Technologies LLC’s holdings in Cabot Oil & Gas were worth $518,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sanders Capital LLC raised its holdings in shares of Cabot Oil & Gas by 2.7% during the fourth quarter. Sanders Capital LLC now owns 30,903,602 shares of the oil and gas exploration company’s stock valued at $755,173,000 after purchasing an additional 820,881 shares during the period. Geode Capital Management LLC increased its position in shares of Cabot Oil & Gas by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 5,654,486 shares of the oil and gas exploration company’s stock worth $126,159,000 after acquiring an additional 237,315 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Cabot Oil & Gas by 4.5% during the fourth quarter. Mackenzie Financial Corp now owns 5,263,003 shares of the oil and gas exploration company’s stock worth $117,628,000 after acquiring an additional 227,448 shares in the last quarter. Northern Trust Corp increased its position in shares of Cabot Oil & Gas by 2.4% during the fourth quarter. Northern Trust Corp now owns 4,886,894 shares of the oil and gas exploration company’s stock worth $109,222,000 after acquiring an additional 114,251 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Cabot Oil & Gas during the fourth quarter worth about $76,512,000. 94.88% of the stock is currently owned by hedge funds and other institutional investors.
NYSE COG traded down $0.75 on Wednesday, hitting $26.60. The stock had a trading volume of 7,093,200 shares, compared to its average volume of 5,990,777. Cabot Oil & Gas Co. has a 52-week low of $20.94 and a 52-week high of $27.65. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.83 and a quick ratio of 2.75. The stock has a market capitalization of $11.36 billion, a PE ratio of 23.54, a P/E/G ratio of 0.39 and a beta of 0.62.
Cabot Oil & Gas (NYSE:COG) last posted its earnings results on Friday, April 26th. The oil and gas exploration company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.09. The business had revenue of $641.70 million for the quarter, compared to analysts’ expectations of $674.71 million. Cabot Oil & Gas had a net margin of 29.81% and a return on equity of 31.52%. The business’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS. On average, research analysts anticipate that Cabot Oil & Gas Co. will post 1.91 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, May 14th. This represents a $0.36 annualized dividend and a dividend yield of 1.35%. This is a boost from Cabot Oil & Gas’s previous quarterly dividend of $0.07. Cabot Oil & Gas’s dividend payout ratio (DPR) is 31.86%.
In other news, insider Jeffrey W. Hutton sold 150,720 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $26.11, for a total transaction of $3,935,299.20. Following the sale, the insider now owns 629,270 shares in the company, valued at approximately $16,430,239.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.90% of the company’s stock.
Several research firms have recently commented on COG. TD Securities boosted their target price on shares of Cabot Oil & Gas from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Cowen began coverage on shares of Cabot Oil & Gas in a research report on Tuesday, April 9th. They set an “outperform” rating and a $32.00 target price for the company. Zacks Investment Research raised shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Tuesday, March 26th. Williams Capital reaffirmed a “hold” rating and issued a $28.00 price objective on shares of Cabot Oil & Gas in a research report on Sunday, April 21st. Finally, Morgan Stanley set a $27.00 price objective on shares of Cabot Oil & Gas and gave the stock a “hold” rating in a research report on Tuesday, January 29th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $28.64.
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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.
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