New Mexico Educational Retirement Board reduced its stake in shares of Cabot Oil & Gas Corporation (NYSE:COG) by 10.2% during the second quarter, Holdings Channel reports. The institutional investor owned 43,292 shares of the oil and gas exploration company’s stock after selling 4,900 shares during the period. New Mexico Educational Retirement Board’s holdings in Cabot Oil & Gas Corporation were worth $1,077,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. First Manhattan Co. acquired a new stake in Cabot Oil & Gas Corporation during the first quarter valued at approximately $100,000. IFP Advisors Inc raised its stake in 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 valued at $115,000 after buying an additional 457 shares in the last quarter. Financial Architects Inc raised its stake in Cabot Oil & Gas Corporation by 24.4% in the first quarter. Financial Architects Inc now owns 5,100 shares of the oil and gas exploration company’s stock valued at $122,000 after buying an additional 1,000 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in Cabot Oil & Gas Corporation by 83.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 6,800 shares of the oil and gas exploration company’s stock valued at $163,000 after buying an additional 3,100 shares in the last quarter. Finally, Crestwood Advisors Group LLC acquired a new stake in Cabot Oil & Gas Corporation during the first quarter valued at approximately $167,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Shares of Cabot Oil & Gas Corporation (NYSE:COG) opened at 24.45 on Tuesday. The stock’s market cap is $11.31 billion. Cabot Oil & Gas Corporation has a 52-week low of $20.02 and a 52-week high of $26.74. The firm’s 50-day moving average is $24.85 and its 200 day moving average is $23.63.

Cabot Oil & Gas Corporation (NYSE:COG) last released its quarterly earnings data on Thursday, July 27th. The oil and gas exploration company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by $0.01. Cabot Oil & Gas Corporation had a positive return on equity of 4.68% and a negative net margin of 10.95%. The company had revenue of $460.50 million for the quarter, compared to analyst estimates of $454.76 million. During the same period in the previous year, the business posted ($0.07) EPS. The firm’s revenue for the quarter was up 86.6% compared to the same quarter last year. Analysts forecast that Cabot Oil & Gas Corporation will post $0.62 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.82%. Cabot Oil & Gas Corporation’s payout ratio is currently -54.05%.

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COG has been the subject of several recent research reports. BMO Capital Markets restated a “buy” rating and issued a $33.00 price target on shares of Cabot Oil & Gas Corporation in a report on Thursday, June 22nd. Williams Capital restated a “buy” rating and issued a $32.00 price target on shares of Cabot Oil & Gas Corporation in a report on Friday, April 28th. Scotiabank set a $29.00 price target on shares of Cabot Oil & Gas Corporation and gave the company a “buy” rating in a report on Saturday, April 22nd. Bank of America Corporation upgraded shares of Cabot Oil & Gas Corporation from a “neutral” rating to a “buy” rating and boosted their price target for the company from $28.00 to $32.00 in a report on Friday, June 30th. Finally, BidaskClub upgraded shares of Cabot Oil & Gas Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the stock. Cabot Oil & Gas Corporation presently has an average rating of “Buy” and a consensus target price of $29.79.

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

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