Cabot Oil & Gas Co. (NYSE:COG) Chairman Dan O. Dinges purchased 20,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was bought at an average price of $16.34 per share, with a total value of $326,800.00. Following the completion of the transaction, the chairman now directly owns 3,104,405 shares of the company’s stock, valued at $50,725,977.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
COG traded up $0.28 during trading hours on Monday, reaching $16.75. The company’s stock had a trading volume of 7,818,712 shares, compared to its average volume of 6,526,595. Cabot Oil & Gas Co. has a fifty-two week low of $16.01 and a fifty-two week high of $27.65. The stock has a market cap of $6.82 billion, a PE ratio of 14.82, a P/E/G ratio of 0.62 and a beta of 0.51. The business’s 50-day moving average is $20.84 and its 200-day moving average is $24.26. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.70 and a quick ratio of 2.61.
Cabot Oil & Gas (NYSE:COG) last released its quarterly earnings data on Friday, July 26th. The oil and gas exploration company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. Cabot Oil & Gas had a return on equity of 34.79% and a net margin of 34.51%. The firm had revenue of $534.12 million for the quarter, compared to analysts’ expectations of $476.10 million. During the same period in the prior year, the firm posted $0.13 earnings per share. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. Analysts expect that Cabot Oil & Gas Co. will post 1.74 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Wednesday, August 7th. Cabot Oil & Gas’s dividend payout ratio is presently 31.86%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. APG Asset Management N.V. lifted its stake in Cabot Oil & Gas by 4,360.3% during the second quarter. APG Asset Management N.V. now owns 7,555,800 shares of the oil and gas exploration company’s stock worth $152,337,000 after purchasing an additional 7,386,400 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in Cabot Oil & Gas by 37,033.0% during the second quarter. Nuveen Asset Management LLC now owns 4,314,487 shares of the oil and gas exploration company’s stock worth $99,061,000 after purchasing an additional 4,302,868 shares in the last quarter. BlackRock Inc. lifted its stake in Cabot Oil & Gas by 12.5% during the second quarter. BlackRock Inc. now owns 33,336,617 shares of the oil and gas exploration company’s stock worth $765,408,000 after purchasing an additional 3,708,150 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in Cabot Oil & Gas during the first quarter worth $63,479,000. Finally, Schroder Investment Management Group lifted its stake in Cabot Oil & Gas by 34.7% during the second quarter. Schroder Investment Management Group now owns 6,738,311 shares of the oil and gas exploration company’s stock worth $154,712,000 after purchasing an additional 1,737,102 shares in the last quarter. Hedge funds and other institutional investors own 95.63% of the company’s stock.
A number of research firms have recently issued reports on COG. Tudor Pickering upgraded Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Friday, August 2nd. TD Securities dropped their price target on Cabot Oil & Gas from $29.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Morgan Stanley set a $23.00 price target on Cabot Oil & Gas and gave the company a “hold” rating in a research report on Monday, June 24th. Wells Fargo & Co upgraded Cabot Oil & Gas from a “market perform” rating to an “outperform” rating and set a $28.00 price target for the company in a research report on Monday, July 8th. Finally, Zacks Investment Research lowered Cabot Oil & Gas from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $27.83.
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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