Cabot Oil & Gas Corporation (COG) Hits New 12-Month High at $29.45
Shares of Cabot Oil & Gas Corporation (NYSE:COG) hit a new 52-week high on Wednesday . The stock traded as high as $29.45 and last traded at $29.07, with a volume of 2791300 shares trading hands. The stock had previously closed at $29.01.
Several analysts have recently weighed in on COG shares. BidaskClub lowered shares of Cabot Oil & Gas Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Williams Capital set a $30.00 target price on shares of Cabot Oil & Gas Corporation and gave the company a “hold” rating in a research report on Friday, July 28th. BMO Capital Markets set a $30.00 target price on shares of Cabot Oil & Gas Corporation and gave the company a “buy” rating in a research report on Sunday, July 30th. Morgan Stanley upgraded shares of Cabot Oil & Gas Corporation from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $24.00 to $31.00 in a research report on Tuesday, August 1st. Finally, Zacks Investment Research upgraded shares of Cabot Oil & Gas Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. Cabot Oil & Gas Corporation currently has an average rating of “Buy” and an average price target of $30.12.
The stock has a market capitalization of $13,616.25, a PE ratio of 77.47, a P/E/G ratio of 1.97 and a beta of 0.51. The company has a current ratio of 1.64, a quick ratio of 1.61 and a debt-to-equity ratio of 0.49.
Cabot Oil & Gas Corporation (NYSE:COG) last released its quarterly earnings results on Friday, October 27th. The oil and gas exploration company reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.01). The firm had revenue of $385.40 million during the quarter, compared to analyst estimates of $400.85 million. Cabot Oil & Gas Corporation had a negative net margin of 8.80% and a positive return on equity of 6.63%. Cabot Oil & Gas Corporation’s quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.04) earnings per share. sell-side analysts expect that Cabot Oil & Gas Corporation will post 0.5 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Wednesday, November 8th were given a $0.05 dividend. The ex-dividend date was Tuesday, November 7th. This represents a $0.20 dividend on an annualized basis and a yield of 0.68%. Cabot Oil & Gas Corporation’s dividend payout ratio (DPR) is presently -64.51%.
In other Cabot Oil & Gas Corporation news, Chairman Dan O. Dinges sold 66,610 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $27.92, for a total value of $1,859,751.20. Following the transaction, the chairman now directly owns 2,887,018 shares in the company, valued at $80,605,542.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert Kelley purchased 2,000 shares of Cabot Oil & Gas Corporation stock in a transaction on Tuesday, October 31st. The stock was purchased at an average price of $27.47 per share, for a total transaction of $54,940.00. Following the completion of the transaction, the director now owns 619,500 shares of the company’s stock, valued at $17,017,665. The disclosure for this purchase can be found here. 1.60% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Westwood Holdings Group Inc. bought a new position in shares of Cabot Oil & Gas Corporation in the second quarter worth about $100,000. IFP Advisors Inc raised its stake in shares of Cabot Oil & Gas Corporation by 11.1% in the second quarter. IFP Advisors Inc now owns 4,569 shares of the oil and gas exploration company’s stock worth $115,000 after acquiring an additional 457 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Cabot Oil & Gas Corporation by 1.4% in the second quarter. Parallel Advisors LLC now owns 5,050 shares of the oil and gas exploration company’s stock worth $126,000 after acquiring an additional 71 shares during the last quarter. Advisors Asset Management Inc. bought a new position in shares of Cabot Oil & Gas Corporation in the third quarter worth about $130,000. Finally, Pinebridge Investments L.P. bought a new position in shares of Cabot Oil & Gas Corporation in the second quarter worth about $163,000. Hedge funds and other institutional investors own 96.32% of the company’s stock.
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About Cabot Oil & Gas Corporation
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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