State of Alaska Department of Revenue cut its position in shares of Cabot Oil & Gas Corporation (NYSE:COG) by 51.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,531 shares of the oil and gas exploration company’s stock after selling 8,970 shares during the period. State of Alaska Department of Revenue’s holdings in Cabot Oil & Gas Corporation were worth $213,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Norinchukin Bank The increased its stake in Cabot Oil & Gas Corporation by 9.4% in the first quarter. Norinchukin Bank The now owns 30,874 shares of the oil and gas exploration company’s stock worth $738,000 after buying an additional 2,655 shares during the last quarter. British Columbia Investment Management Corp increased its stake in Cabot Oil & Gas Corporation by 219.3% in the first quarter. British Columbia Investment Management Corp now owns 461,627 shares of the oil and gas exploration company’s stock worth $11,038,000 after buying an additional 317,069 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Cabot Oil & Gas Corporation by 8.8% in the first quarter. PNC Financial Services Group Inc. now owns 61,356 shares of the oil and gas exploration company’s stock worth $1,467,000 after buying an additional 4,941 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in Cabot Oil & Gas Corporation by 1.8% in the first quarter. Gulf International Bank UK Ltd now owns 146,344 shares of the oil and gas exploration company’s stock worth $3,499,000 after buying an additional 2,600 shares during the last quarter. Finally, Cleararc Capital Inc. increased its stake in Cabot Oil & Gas Corporation by 2.9% in the first quarter. Cleararc Capital Inc. now owns 11,639 shares of the oil and gas exploration company’s stock worth $278,000 after buying an additional 331 shares during the last quarter. Institutional investors own 96.05% of the company’s stock.
Cabot Oil & Gas Corporation (NYSE:COG) traded up 0.57% during mid-day trading on Friday, hitting $24.71. 3,769,389 shares of the stock traded hands. The company has a 50-day moving average of $24.44 and a 200 day moving average of $23.50. Cabot Oil & Gas Corporation has a 1-year low of $20.02 and a 1-year high of $26.74. The firm’s market capitalization is $11.43 billion.
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. The company had revenue of $460.50 million for the quarter, compared to analysts’ expectations of $454.76 million. Cabot Oil & Gas Corporation had a negative net margin of 10.95% and a positive return on equity of 4.68%. The business’s revenue for the quarter was up 86.6% compared to the same quarter last year. During the same period last year, the company posted ($0.07) EPS. On average, equities research analysts anticipate that Cabot Oil & Gas Corporation will post $0.63 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Tuesday, August 8th. Cabot Oil & Gas Corporation’s dividend payout ratio (DPR) is presently -54.05%.
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A number of equities research analysts have recently weighed in on COG shares. Macquarie upgraded shares of Cabot Oil & Gas Corporation from a “neutral” rating to an “outperform” rating and set a $26.00 price target on the stock in a research note on Tuesday, June 6th. BidaskClub downgraded shares of Cabot Oil & Gas Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Bank of America Corporation upgraded shares of Cabot Oil & Gas Corporation from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $25.00 to $28.00 in a research report on Thursday, May 11th. BMO Capital Markets reiterated a “buy” rating and set a $33.00 target price on shares of Cabot Oil & Gas Corporation in a research report on Thursday, June 22nd. Finally, ValuEngine downgraded shares of Cabot Oil & Gas Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $29.71.
About Cabot Oil & Gas Corporation
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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