BlackRock Inc. boosted its holdings in Cabot Oil & Gas Co. (NYSE:COG) by 1.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,628,467 shares of the oil and gas exploration company’s stock after buying an additional 328,207 shares during the quarter. BlackRock Inc. owned 7.00% of Cabot Oil & Gas worth $773,304,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Foresters Investment Management Company Inc. acquired a new stake in shares of Cabot Oil & Gas in the fourth quarter worth approximately $6,627,000. Janus Henderson Group PLC grew its stake in shares of Cabot Oil & Gas by 13.1% during the first quarter. Janus Henderson Group PLC now owns 1,647,588 shares of the oil and gas exploration company’s stock valued at $43,002,000 after purchasing an additional 191,268 shares during the last quarter. Contravisory Investment Management Inc. boosted its stake in Cabot Oil & Gas by 12.0% in the first quarter. Contravisory Investment Management Inc. now owns 13,338 shares of the oil and gas exploration company’s stock valued at $348,000 after acquiring an additional 1,429 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Cabot Oil & Gas by 19.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,501,665 shares of the oil and gas exploration company’s stock valued at $33,572,000 after acquiring an additional 239,959 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Cabot Oil & Gas in the fourth quarter valued at approximately $379,000. 98.33% of the stock is owned by institutional investors and hedge funds.
COG stock traded down $0.33 during midday trading on Wednesday, reaching $22.63. The company had a trading volume of 6,750,100 shares, compared to its average volume of 6,109,506. 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’s 50 day moving average price is $25.12. Cabot Oil & Gas Co. has a fifty-two week low of $20.94 and a fifty-two week high of $27.65. The stock has a market cap of $9.83 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 0.84 and a beta of 0.62.
Cabot Oil & Gas (NYSE:COG) last issued its earnings results on Friday, April 26th. The oil and gas exploration company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.09. Cabot Oil & Gas had a return on equity of 31.52% and a net margin of 29.81%. The company had revenue of $641.70 million during the quarter, compared to the consensus estimate of $674.71 million. During the same period in the previous year, the firm posted $0.28 earnings per share. Cabot Oil & Gas’s quarterly revenue was up 35.6% compared to the same quarter last year. As a group, analysts anticipate that Cabot Oil & Gas Co. will post 1.85 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Wednesday, May 15th were paid a $0.09 dividend. This is an increase from Cabot Oil & Gas’s previous quarterly dividend of $0.07. This represents a $0.36 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Tuesday, May 14th. Cabot Oil & Gas’s payout ratio is presently 31.86%.
A number of brokerages have issued reports on COG. Williams Capital reaffirmed a “hold” rating and issued a $28.00 price objective on shares of Cabot Oil & Gas in a research note on Sunday, April 21st. TD Securities increased 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 note on Tuesday, April 9th. Zacks Investment Research raised shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Tuesday, March 26th. Morgan Stanley set a $23.00 target price on shares of Cabot Oil & Gas and gave the stock a “hold” rating in a research note on Monday. Finally, Cowen initiated coverage on shares of Cabot Oil & Gas in a research note on Tuesday, April 9th. They set an “outperform” rating and a $32.00 target price on the stock. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $28.81.
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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