BidaskClub cut shares of Cabot Oil & Gas Corporation (NYSE:COG) from a buy rating to a hold rating in a research report sent to investors on Thursday, July 27th.
COG has been the topic of a number of other reports. BMO Capital Markets reiterated a buy rating and issued a $33.00 price objective on shares of Cabot Oil & Gas Corporation in a research report on Monday, May 15th. Jefferies Group LLC set a $23.00 target price on Cabot Oil & Gas Corporation and gave the company a hold rating in a research note on Wednesday, May 17th. Bank of America Corporation upgraded Cabot Oil & Gas Corporation from a neutral rating to a buy rating and raised their target price for the company from $28.00 to $32.00 in a research note on Friday, June 30th. Zacks Investment Research cut Cabot Oil & Gas Corporation from a hold rating to a sell rating in a research note on Tuesday, July 18th. Finally, Piper Jaffray Companies restated an overweight rating and issued a $35.00 target price on shares of Cabot Oil & Gas Corporation in a research note on Monday, May 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Cabot Oil & Gas Corporation has a consensus rating of Buy and a consensus price target of $29.50.
Shares of Cabot Oil & Gas Corporation (COG) opened at 24.54 on Thursday. The company’s market cap is $11.35 billion. Cabot Oil & Gas Corporation has a one year low of $20.02 and a one year high of $26.74. The firm has a 50-day moving average of $24.86 and a 200 day moving average of $23.65.
Cabot Oil & Gas Corporation (NYSE:COG) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.01. Cabot Oil & Gas Corporation had a positive return on equity of 4.68% and a negative net margin of 10.95%. The company had revenue of $460.50 million for the quarter, compared to the consensus estimate of $454.76 million. During the same quarter in the previous year, the business earned ($0.07) earnings per share. Cabot Oil & Gas Corporation’s revenue was up 86.6% compared to the same quarter last year. Equities research analysts anticipate that Cabot Oil & Gas Corporation will post $0.62 EPS for the current year.
The firm also recently announced 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. The ex-dividend date is Tuesday, August 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.81%. Cabot Oil & Gas Corporation’s dividend payout ratio is -54.05%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norinchukin Bank The boosted its position 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 in the last quarter. British Columbia Investment Management Corp boosted its position 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 in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of 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 valued at $1,467,000 after buying an additional 4,941 shares during the period. Gulf International Bank UK Ltd boosted its position in shares of 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 valued at $3,499,000 after buying an additional 2,600 shares during the period. Finally, US Bancorp DE boosted its stake in shares of Cabot Oil & Gas Corporation by 25.3% in the second quarter. US Bancorp DE now owns 751,522 shares of the oil and gas exploration company’s stock valued at $18,848,000 after buying an additional 151,938 shares during the period. 97.40% of the stock is currently owned by hedge funds and other institutional investors.
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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