Cabot Oil & Gas Corporation (COG) Shares Bought by Private Advisor Group LLC
Private Advisor Group LLC lifted its stake in shares of Cabot Oil & Gas Corporation (NYSE:COG) by 21.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,864 shares of the oil and gas exploration company’s stock after acquiring an additional 1,732 shares during the quarter. Private Advisor Group LLC’s holdings in Cabot Oil & Gas were worth $252,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of COG. Westwood Holdings Group Inc. acquired a new position in Cabot Oil & Gas in the 2nd quarter worth approximately $100,000. IFP Advisors Inc boosted its stake in Cabot Oil & Gas by 11.1% in the 2nd quarter. IFP Advisors Inc now owns 4,569 shares of the oil and gas exploration company’s stock worth $115,000 after purchasing an additional 457 shares during the period. Parallel Advisors LLC boosted its stake in Cabot Oil & Gas by 1.4% in the 2nd quarter. Parallel Advisors LLC now owns 5,050 shares of the oil and gas exploration company’s stock worth $126,000 after purchasing an additional 71 shares during the period. Advisors Asset Management Inc. acquired a new position in Cabot Oil & Gas in the 3rd quarter worth approximately $130,000. Finally, Pinebridge Investments L.P. acquired a new position in Cabot Oil & Gas in the 2nd quarter worth approximately $163,000. Institutional investors and hedge funds own 95.69% of the company’s stock.
A number of research firms recently commented on COG. Williams Capital set a $30.00 price objective on shares of Cabot Oil & Gas and gave the stock a “hold” rating in a research note on Monday, October 30th. Cowen reissued a “buy” rating and set a $30.00 target price on shares of Cabot Oil & Gas in a research note on Tuesday, September 12th. Zacks Investment Research raised shares of Cabot Oil & Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. Barclays lifted their target price on shares of Cabot Oil & Gas from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Finally, BMO Capital Markets set a $30.00 target price on shares of Cabot Oil & Gas and gave the company a “buy” rating in a research note on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. Cabot Oil & Gas currently has a consensus rating of “Hold” and an average price target of $30.56.
In related news, Chairman Dan O. Dinges sold 66,610 shares of Cabot Oil & Gas stock in a transaction on 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 owns 2,887,018 shares in the company, valued at approximately $80,605,542.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Kelley bought 2,000 shares of the company’s stock in a transaction that occurred 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 acquisition, the director now directly owns 619,500 shares in the company, valued at $17,017,665. The disclosure for this purchase can be found here. 1.60% of the stock is currently owned by company insiders.
Cabot Oil & Gas Corporation (NYSE:COG) traded down $0.50 during trading on Friday, hitting $27.26. 4,482,900 shares of the stock were exchanged, compared to its average volume of 5,905,979. The company has a market cap of $12,839.23, a P/E ratio of 73.05, a P/E/G ratio of 1.91 and a beta of 0.52. 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 Corporation has a fifty-two week low of $20.55 and a fifty-two week high of $29.57.
Cabot Oil & Gas (NYSE:COG) last released its quarterly earnings results on Friday, October 27th. The oil and gas exploration company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $385.40 million for the quarter, compared to the consensus estimate of $400.85 million. Cabot Oil & Gas had a negative net margin of 8.80% and a positive return on equity of 6.63%. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.04) EPS. equities research analysts anticipate that Cabot Oil & Gas Corporation will post 0.49 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Wednesday, November 8th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.73%. Cabot Oil & Gas’s dividend payout ratio is currently -64.51%.
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Cabot Oil & Gas Company Profile
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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