Altrinsic Global Advisors LLC boosted its position in Cabot Oil & Gas Co. (NYSE:COG) by 0.5% in the 1st quarter, Holdings Channel reports. The firm owned 684,791 shares of the oil and gas exploration company’s stock after purchasing an additional 3,460 shares during the period. Altrinsic Global Advisors LLC’s holdings in Cabot Oil & Gas were worth $17,873,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Paragon Capital Management LLC acquired a new position in Cabot Oil & Gas in the 1st quarter valued at about $26,000. Carroll Financial Associates Inc. raised its stake in Cabot Oil & Gas by 192.9% in the 1st quarter. Carroll Financial Associates Inc. now owns 1,201 shares of the oil and gas exploration company’s stock valued at $31,000 after purchasing an additional 791 shares during the last quarter. Whittier Trust Co. raised its stake in Cabot Oil & Gas by 97.2% in the 4th quarter. Whittier Trust Co. now owns 1,430 shares of the oil and gas exploration company’s stock valued at $32,000 after purchasing an additional 705 shares during the last quarter. Pearl River Capital LLC acquired a new position in Cabot Oil & Gas in the 1st quarter valued at about $32,000. Finally, Advisory Services Network LLC acquired a new position in Cabot Oil & Gas in the 4th quarter valued at about $40,000. 98.39% of the stock is owned by hedge funds and other institutional investors.
NYSE COG opened at $23.99 on Wednesday. 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 cap of $10.06 billion, a PE ratio of 21.23, a P/E/G ratio of 0.39 and a beta of 0.61.
Cabot Oil & Gas (NYSE:COG) last posted its quarterly earnings data on Friday, April 26th. The oil and gas exploration company reported $0.73 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 the consensus estimate of $674.71 million. During the same quarter in the prior year, the company posted $0.28 EPS. The company’s quarterly revenue was up 35.6% compared to the same quarter last year. On average, analysts expect that Cabot Oil & Gas Co. will post 1.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.50%. This is a boost from Cabot Oil & Gas’s previous quarterly dividend of $0.07. Cabot Oil & Gas’s payout ratio is presently 31.86%.
In other news, insider Jeffrey W. Hutton sold 150,720 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $26.11, for a total transaction of $3,935,299.20. Following the completion of the sale, the insider now owns 629,270 shares in the company, valued at approximately $16,430,239.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by insiders.
Several brokerages recently weighed in on COG. Zacks Investment Research downgraded shares of Cabot Oil & Gas from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Williams Capital reissued a “hold” rating and issued a $28.00 target price on shares of Cabot Oil & Gas in a research note on Sunday, April 21st. TD Securities upped their price objective on shares of Cabot Oil & Gas from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Cowen started coverage on shares of Cabot Oil & Gas in a research note on Tuesday, April 9th. They set an “outperform” rating and a $32.00 price objective for the company. Finally, Guggenheim set a $27.00 price objective on shares of Cabot Oil & Gas and gave the company a “hold” rating in a research note on Friday, February 22nd. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Cabot Oil & Gas has a consensus rating of “Buy” and a consensus price target of $29.08.
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About Cabot Oil & Gas
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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