Legal & General Group Plc Acquires 32,313 Shares of Cabot Oil & Gas Corporation (COG)

Legal & General Group Plc lifted its holdings in shares of Cabot Oil & Gas Corporation (NYSE:COG) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,137,748 shares of the oil and gas exploration company’s stock after purchasing an additional 32,313 shares during the period. Legal & General Group Plc owned 0.46% of Cabot Oil & Gas worth $57,185,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of COG. Amundi Pioneer Asset Management Inc. increased its stake in Cabot Oil & Gas by 6.1% in the third quarter. Amundi Pioneer Asset Management Inc. now owns 9,719,829 shares of the oil and gas exploration company’s stock valued at $260,006,000 after purchasing an additional 562,709 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in Cabot Oil & Gas by 63.0% in the third quarter. Great West Life Assurance Co. Can now owns 535,560 shares of the oil and gas exploration company’s stock valued at $14,330,000 after purchasing an additional 207,011 shares in the last quarter. Norinchukin Bank The increased its stake in Cabot Oil & Gas by 6.6% in the third quarter. Norinchukin Bank The now owns 34,424 shares of the oil and gas exploration company’s stock valued at $921,000 after purchasing an additional 2,119 shares in the last quarter. ING Groep NV bought a new stake in Cabot Oil & Gas in the third quarter valued at $315,000. Finally, Icon Advisers Inc. Co. increased its stake in Cabot Oil & Gas by 11.1% in the third quarter. Icon Advisers Inc. Co. now owns 434,120 shares of the oil and gas exploration company’s stock valued at $11,613,000 after purchasing an additional 43,520 shares in the last quarter. Institutional investors own 95.69% of the company’s stock.

Shares of Cabot Oil & Gas Corporation (COG) opened at $28.33 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.61 and a debt-to-equity ratio of 0.49. The company has a market cap of $13,213.87, a PE ratio of 75.18, a PEG ratio of 1.93 and a beta of 0.52. Cabot Oil & Gas Corporation has a 52-week low of $20.55 and a 52-week high of $29.57.

Cabot Oil & Gas (NYSE:COG) last issued its quarterly earnings data on Friday, October 27th. The oil and gas exploration company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.01). Cabot Oil & Gas had a positive return on equity of 6.63% and a negative net margin of 8.80%. The firm had revenue of $385.40 million during the quarter, compared to the consensus estimate of $400.85 million. During the same period in the previous year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was up 24.2% on a year-over-year basis. research analysts anticipate that Cabot Oil & Gas Corporation will post 0.49 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Wednesday, November 8th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Tuesday, November 7th. Cabot Oil & Gas’s payout ratio is -64.51%.

Several research firms have weighed in on COG. J P Morgan Chase & Co set a $37.00 price target on shares of Cabot Oil & Gas and gave the company a “buy” rating in a research note on Monday, November 27th. KeyCorp set a $30.00 price target on shares of Cabot Oil & Gas and gave the company a “buy” rating in a research note on Saturday, November 25th. Scotiabank reaffirmed a “buy” rating on shares of Cabot Oil & Gas in a research note on Wednesday, November 22nd. Barclays lifted their price target on shares of Cabot Oil & Gas from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, November 20th. Finally, Drexel Hamilton lifted their price target on shares of Cabot Oil & Gas from $27.82 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $30.59.

In other Cabot Oil & Gas news, Chairman Dan O. Dinges sold 66,610 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $27.92, for a total value of $1,859,751.20. Following the completion of the sale, the chairman now directly owns 2,887,018 shares of the company’s stock, valued at approximately $80,605,542.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Kelley acquired 2,000 shares of Cabot Oil & Gas stock in a transaction on Tuesday, October 31st. The stock was purchased at an average cost of $27.47 per share, with a total value of $54,940.00. Following the completion of the transaction, the director now directly owns 619,500 shares in the company, valued at approximately $17,017,665. The disclosure for this purchase can be found here. Corporate insiders own 1.60% of the company’s stock.

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Cabot Oil & Gas 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.

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Institutional Ownership by Quarter for Cabot Oil & Gas (NYSE:COG)

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