Kennedy Capital Management Inc. bought a new stake in Cabot Oil & Gas Co. (NYSE:COG) in the first quarter, HoldingsChannel reports. The institutional investor bought 126,828 shares of the oil and gas exploration company’s stock, valued at approximately $3,310,000.

Several other large investors have also made changes to their positions in the company. M&T Bank Corp raised its holdings in Cabot Oil & Gas by 2.2% during the fourth quarter. M&T Bank Corp now owns 21,611 shares of the oil and gas exploration company’s stock worth $484,000 after purchasing an additional 465 shares in the last quarter. JOYN Advisors Inc. raised its holdings in Cabot Oil & Gas by 31.2% during the fourth quarter. JOYN Advisors Inc. now owns 2,151 shares of the oil and gas exploration company’s stock worth $48,000 after purchasing an additional 511 shares in the last quarter. Connable Office Inc. raised its holdings in Cabot Oil & Gas by 0.8% during the first quarter. Connable Office Inc. now owns 67,508 shares of the oil and gas exploration company’s stock worth $1,762,000 after purchasing an additional 549 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in Cabot Oil & Gas by 23.4% during the first quarter. Rockefeller Capital Management L.P. now owns 2,992 shares of the oil and gas exploration company’s stock worth $78,000 after purchasing an additional 567 shares in the last quarter. Finally, Nicollet Investment Management Inc. raised its holdings in Cabot Oil & Gas by 1.7% during the first quarter. Nicollet Investment Management Inc. now owns 34,396 shares of the oil and gas exploration company’s stock worth $898,000 after purchasing an additional 570 shares in the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

Several research firms recently issued reports on COG. Zacks Investment Research raised shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Tuesday, March 26th. TD Securities increased their price target on shares of Cabot Oil & Gas from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Williams Capital reissued a “hold” rating and set a $28.00 price target on shares of Cabot Oil & Gas in a report on Sunday, April 21st. Cowen began coverage on shares of Cabot Oil & Gas in a report on Tuesday, April 9th. They set an “outperform” rating and a $32.00 price target for the company. Finally, Guggenheim set a $27.00 price target on shares of Cabot Oil & Gas and gave the stock a “hold” rating in a report on Friday, February 22nd. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Cabot Oil & Gas presently has a consensus rating of “Buy” and an average target price of $29.08.

In other Cabot Oil & Gas news, insider Jeffrey W. Hutton sold 150,720 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $26.11, for a total value of $3,935,299.20. Following the completion of the transaction, the insider now directly owns 629,270 shares of the company’s stock, valued at $16,430,239.70. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.90% of the company’s stock.

Shares of Cabot Oil & Gas stock opened at $23.90 on Friday. Cabot Oil & Gas Co. has a 12-month low of $20.94 and a 12-month high of $27.65. 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 has a market capitalization of $10.04 billion, a price-to-earnings ratio of 14.92, a P/E/G ratio of 0.36 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 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.09. Cabot Oil & Gas had a net margin of 29.81% and a return on equity of 31.52%. The company had revenue of $641.70 million during the quarter, compared to analysts’ expectations of $674.71 million. During the same period last year, the company posted $0.28 earnings per share. The firm’s quarterly revenue was up 35.6% compared to the same quarter last year. As a group, sell-side analysts predict that Cabot Oil & Gas Co. will post 1.88 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Wednesday, May 15th were issued a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This is a boost 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 1.51%. Cabot Oil & Gas’s dividend payout ratio (DPR) is 31.86%.

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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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Institutional Ownership by Quarter for Cabot Oil & Gas (NYSE:COG)

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