Cabot Oil & Gas (COG) Receives “Neutral” Rating from Susquehanna Bancshares
Susquehanna Bancshares reissued their neutral rating on shares of Cabot Oil & Gas (NYSE:COG) in a research note released on Wednesday, Marketbeat.com reports. Susquehanna Bancshares currently has a $32.00 price objective on the oil and gas exploration company’s stock.
A number of other research analysts also recently weighed in on the stock. Morgan Stanley restated a sell rating on shares of Cabot Oil & Gas in a report on Thursday, December 14th. Barclays raised their price target on shares of Cabot Oil & Gas from $28.00 to $30.00 and gave the company an overweight rating in a report on Wednesday, October 11th. Zacks Investment Research upgraded shares of Cabot Oil & Gas from a sell rating to a hold rating in a report on Wednesday, October 25th. Raymond James Financial downgraded shares of Cabot Oil & Gas from an outperform rating to a sell rating in a report on Tuesday, January 2nd. Finally, Credit Suisse Group started coverage on shares of Cabot Oil & Gas in a report on Monday, December 11th. They set a neutral rating and a $30.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $31.21.
Cabot Oil & Gas (NYSE COG) traded down $0.06 during trading on Wednesday, hitting $27.51. 4,382,703 shares of the stock were exchanged, compared to its average volume of 5,019,554. The company has a market cap of $12,720.00, a P/E ratio of -85.97, a P/E/G ratio of 0.90 and a beta of 0.53. The company has a quick ratio of 1.61, a current ratio of 1.64 and a debt-to-equity ratio of 0.49. Cabot Oil & Gas has a fifty-two week low of $20.55 and a fifty-two week high of $29.57.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Tuesday, January 23rd. This is an increase from Cabot Oil & Gas’s previous quarterly dividend of $0.05. Cabot Oil & Gas’s dividend payout ratio (DPR) is -62.50%.
In related news, Director Robert Kelley acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were bought at an average price of $27.47 per share, for a total transaction of $54,940.00. Following the acquisition, the director now owns 619,500 shares in the company, valued at approximately $17,017,665. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Dan O. Dinges sold 66,610 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $27.92, for a total transaction of $1,859,751.20. Following the transaction, the chairman now owns 2,887,018 shares in the company, valued at approximately $80,605,542.56. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Large investors have recently bought and sold shares of the company. Westwood Holdings Group Inc. bought a new position in shares of Cabot Oil & Gas during the 2nd quarter worth about $100,000. Advisors Asset Management Inc. bought a new position in shares of Cabot Oil & Gas during the 3rd quarter worth about $130,000. Pinebridge Investments L.P. bought a new position in shares of Cabot Oil & Gas during the 2nd quarter worth about $163,000. Private Advisor Group LLC bought a new position in shares of Cabot Oil & Gas during the 2nd quarter worth about $201,000. Finally, Reliance Trust Co. of Delaware bought a new position in shares of Cabot Oil & Gas during the 3rd quarter worth about $210,000. Institutional investors own 95.63% of the company’s stock.
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About Cabot Oil & Gas
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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