Cabot Oil & Gas Corporation (COG) Downgraded to “Hold” at BidaskClub

BidaskClub cut shares of Cabot Oil & Gas Corporation (NYSE:COG) from a buy rating to a hold rating in a research note published on Thursday morning.

Other analysts have also issued research reports about the stock. Jefferies Group LLC reaffirmed a hold rating and set a $24.00 price target on shares of Cabot Oil & Gas Corporation in a research report on Tuesday, April 18th. Raymond James Financial, Inc. reaffirmed an outperform rating and set a $31.00 price target (up previously from $27.00) on shares of Cabot Oil & Gas Corporation in a research report on Friday, April 21st. Scotiabank set a $29.00 price target on shares of Cabot Oil & Gas Corporation and gave the company a buy rating in a research report on Saturday, April 22nd. Williams Capital reaffirmed a buy rating and set a $32.00 price target on shares of Cabot Oil & Gas Corporation in a research report on Friday, April 28th. Finally, Piper Jaffray Companies reaffirmed an overweight rating and set a $35.00 price target on shares of Cabot Oil & Gas Corporation in a research report on Monday, May 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company. Cabot Oil & Gas Corporation has an average rating of Hold and a consensus price target of $29.40.

Shares of Cabot Oil & Gas Corporation (COG) traded up 1.27% during midday trading on Thursday, reaching $25.50. The company’s stock had a trading volume of 8,282,555 shares. Cabot Oil & Gas Corporation has a one year low of $20.02 and a one year high of $26.74. The stock’s 50 day moving average price is $24.31 and its 200 day moving average price is $23.43. The firm’s market cap is $11.85 billion.

Cabot Oil & Gas Corporation (NYSE:COG) last released its earnings results on Thursday, July 27th. The oil and gas exploration company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. Cabot Oil & Gas Corporation had a positive return on equity of 1.05% and a negative net margin of 18.70%. The business had revenue of $460.50 million during the quarter, compared to analysts’ expectations of $454.76 million. During the same period last year, the business earned ($0.07) earnings per share. The company’s revenue for the quarter was up 86.6% compared to the same quarter last year. Analysts predict that Cabot Oil & Gas Corporation will post $0.64 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.78%. Cabot Oil & Gas Corporation’s dividend payout ratio (DPR) is -35.71%.

In other Cabot Oil & Gas Corporation news, insider Todd M. Roemer sold 3,737 shares of the business’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $24.12, for a total value of $90,136.44. Following the completion of the transaction, the insider now owns 62,453 shares in the company, valued at $1,506,366.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. S&CO Inc. increased its position in Cabot Oil & Gas Corporation by 5.9% in the second quarter. S&CO Inc. now owns 71,455 shares of the oil and gas exploration company’s stock valued at $1,792,000 after buying an additional 4,005 shares during the period. Daiwa Securities Group Inc. increased its position in Cabot Oil & Gas Corporation by 9.3% in the second quarter. Daiwa Securities Group Inc. now owns 13,500 shares of the oil and gas exploration company’s stock valued at $339,000 after buying an additional 1,150 shares during the period. Rothschild Asset Management Inc. increased its position in Cabot Oil & Gas Corporation by 11.2% in the second quarter. Rothschild Asset Management Inc. now owns 25,624 shares of the oil and gas exploration company’s stock valued at $643,000 after buying an additional 2,571 shares during the period. Great West Life Assurance Co. Can increased its position in Cabot Oil & Gas Corporation by 4.3% in the second quarter. Great West Life Assurance Co. Can now owns 328,549 shares of the oil and gas exploration company’s stock valued at $8,235,000 after buying an additional 13,597 shares during the period. Finally, Sanders Capital LLC increased its position in Cabot Oil & Gas Corporation by 5.5% in the second quarter. Sanders Capital LLC now owns 27,261,023 shares of the oil and gas exploration company’s stock valued at $739,422,000 after buying an additional 1,430,599 shares during the period. Institutional investors and hedge funds own 96.10% of the company’s stock.

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.