Cabot Oil & Gas Corporation (NYSE:COG) was the recipient of a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 17,770,912 shares, a drop of 18.7% from the May 15th total of 21,847,332 shares. Based on an average daily volume of 6,062,455 shares, the days-to-cover ratio is presently 2.9 days. Currently, 3.9% of the shares of the company are short sold.

Cabot Oil & Gas Corporation (NYSE:COG) opened at 23.12 on Friday. Cabot Oil & Gas Corporation has a one year low of $20.02 and a one year high of $26.74. The firm has a 50 day moving average of $23.23 and a 200 day moving average of $23.08. The firm’s market capitalization is $10.76 billion.

Cabot Oil & Gas Corporation (NYSE:COG) last announced its quarterly earnings results on Friday, April 28th. The oil and gas exploration company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $517.80 million during the quarter, compared to analysts’ expectations of $464.45 million. Cabot Oil & Gas Corporation had a positive return on equity of 1.05% and a negative net margin of 18.70%. Cabot Oil & Gas Corporation’s revenue was up 83.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.13) EPS. Equities analysts forecast that Cabot Oil & Gas Corporation will post $0.71 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Wednesday, May 17th were paid a $0.05 dividend. The ex-dividend date was Monday, May 15th. This is a boost from Cabot Oil & Gas Corporation’s previous quarterly dividend of $0.02. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.87%. Cabot Oil & Gas Corporation’s dividend payout ratio is -35.71%.

In related news, insider Todd M. Roemer sold 3,737 shares of Cabot Oil & Gas Corporation stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $24.12, for a total value of $90,136.44. Following the sale, the insider now directly owns 62,453 shares in the company, valued at approximately $1,506,366.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Norinchukin Bank The boosted its stake in shares of Cabot Oil & Gas Corporation by 9.4% in the first quarter. Norinchukin Bank The now owns 30,874 shares of the oil and gas exploration company’s stock worth $738,000 after buying an additional 2,655 shares during the period. British Columbia Investment Management Corp boosted its stake in shares of Cabot Oil & Gas Corporation by 219.3% in the first quarter. British Columbia Investment Management Corp now owns 461,627 shares of the oil and gas exploration company’s stock worth $11,038,000 after buying an additional 317,069 shares during the period. Gulf International Bank UK Ltd boosted its stake in shares of Cabot Oil & Gas Corporation by 1.8% in the first quarter. Gulf International Bank UK Ltd now owns 146,344 shares of the oil and gas exploration company’s stock worth $3,499,000 after buying an additional 2,600 shares during the period. Cibc World Markets Corp boosted its stake in shares of Cabot Oil & Gas Corporation by 55.3% in the first quarter. Cibc World Markets Corp now owns 49,637 shares of the oil and gas exploration company’s stock worth $1,187,000 after buying an additional 17,672 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in shares of Cabot Oil & Gas Corporation during the first quarter worth approximately $418,000. 96.26% of the stock is owned by institutional investors.

COG has been the topic of several research analyst reports. Scotiabank set a $28.00 target price on shares of Cabot Oil & Gas Corporation and gave the company a “buy” rating in a research note on Monday, March 27th. Stifel Nicolaus initiated coverage on shares of Cabot Oil & Gas Corporation in a research note on Thursday, March 23rd. They set a “buy” rating and a $30.00 target price on the stock. Williams Capital reissued a “buy” rating and set a $32.00 target price on shares of Cabot Oil & Gas Corporation in a research note on Friday, April 28th. BMO Capital Markets reissued a “buy” rating and set a $33.00 target price on shares of Cabot Oil & Gas Corporation in a research note on Monday, May 15th. Finally, TheStreet raised shares of Cabot Oil & Gas Corporation from a “d+” rating to a “c” rating in a research note on Friday, April 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $29.58.

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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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