Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Cabot Oil & Gas Co. (NYSE:COG) by 9.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 25,440 shares of the oil and gas exploration company’s stock after acquiring an additional 2,230 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Cabot Oil & Gas were worth $664,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in COG. Paragon Capital Management LLC bought a new stake in shares of Cabot Oil & Gas during the 1st quarter worth approximately $26,000. Joseph P. Lucia & Associates LLC acquired a new stake in shares of Cabot Oil & Gas during the first quarter worth $40,000. Carroll Financial Associates Inc. increased its position in shares of Cabot Oil & Gas by 192.9% during the first quarter. Carroll Financial Associates Inc. now owns 1,201 shares of the oil and gas exploration company’s stock worth $31,000 after buying an additional 791 shares during the period. Pearl River Capital LLC acquired a new stake in shares of Cabot Oil & Gas during the first quarter worth $32,000. Finally, Whittier Trust Co. increased its position in shares of Cabot Oil & Gas by 97.2% during the fourth quarter. Whittier Trust Co. now owns 1,430 shares of the oil and gas exploration company’s stock worth $32,000 after buying an additional 705 shares during the period. 98.39% of the stock is owned by hedge funds and other institutional investors.
In other Cabot Oil & Gas news, insider Jeffrey W. Hutton sold 150,720 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 629,270 shares of the company’s stock, valued at $16,430,239.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by company insiders.
COG has been the subject of several recent analyst reports. Williams Capital reiterated a “hold” rating and set a $27.00 price objective on shares of Cabot Oil & Gas in a research report on Friday, February 22nd. 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. Zacks Investment Research upgraded 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. Cowen initiated coverage on shares of Cabot Oil & Gas in a report on Tuesday, April 9th. They issued an “outperform” rating and a $32.00 price target for the company. Finally, TD Securities raised 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. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $29.08.
Cabot Oil & Gas stock opened at $24.00 on Friday. Cabot Oil & Gas Co. has a 1-year low of $20.94 and a 1-year high of $27.65. The firm has a market capitalization of $10.16 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 0.36 and a beta of 0.62. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.75 and a current ratio of 2.83.
Cabot Oil & Gas (NYSE:COG) last released its quarterly earnings data on Friday, April 26th. The oil and gas exploration company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $641.70 million for the quarter, compared to analyst estimates of $674.71 million. During the same period last year, the firm earned $0.28 earnings per share. The business’s quarterly revenue was up 35.6% compared to the same quarter last year. Equities research analysts predict that Cabot Oil & Gas Co. will post 1.88 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Wednesday, May 15th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.50%. This is a positive change from Cabot Oil & Gas’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, May 14th. Cabot Oil & Gas’s dividend payout ratio (DPR) is 31.86%.
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Cabot Oil & Gas 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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