Investec Asset Management LTD lifted its stake in Cabot Oil & Gas Co. (NYSE:COG) by 696.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 399,922 shares of the oil and gas exploration company’s stock after purchasing an additional 349,707 shares during the period. Investec Asset Management LTD owned about 0.09% of Cabot Oil & Gas worth $9,518,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Motco lifted its position in shares of Cabot Oil & Gas by 3,034.3% during the first quarter. Motco now owns 4,200 shares of the oil and gas exploration company’s stock valued at $101,000 after buying an additional 4,066 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in Cabot Oil & Gas during the 2nd quarter worth approximately $123,000. Massey Quick Simon & CO. LLC raised its position in Cabot Oil & Gas by 134.2% during the 1st quarter. Massey Quick Simon & CO. LLC now owns 6,850 shares of the oil and gas exploration company’s stock worth $164,000 after buying an additional 3,925 shares during the last quarter. Parkwood LLC purchased a new position in Cabot Oil & Gas during the 2nd quarter worth approximately $212,000. Finally, Welch & Forbes LLC purchased a new position in Cabot Oil & Gas during the 2nd quarter worth approximately $214,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.
Shares of Cabot Oil & Gas stock traded down $0.15 on Friday, reaching $21.92. 2,672,855 shares of the company were exchanged, compared to its average volume of 4,742,730. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.64 and a current ratio of 1.67. The company has a market cap of $9.73 billion, a PE ratio of 45.67, a P/E/G ratio of 0.75 and a beta of 0.38. Cabot Oil & Gas Co. has a 1-year low of $21.48 and a 1-year high of $29.57.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 23rd. Shareholders of record on Thursday, August 9th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Wednesday, August 8th. Cabot Oil & Gas’s dividend payout ratio is currently 50.00%.
A number of brokerages have recently commented on COG. Morgan Stanley raised their price objective on shares of Cabot Oil & Gas from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Thursday, July 12th. Susquehanna Bancshares raised shares of Cabot Oil & Gas from a “neutral” rating to a “positive” rating and lifted their price target for the company from $27.00 to $28.00 in a research note on Monday, July 30th. Stifel Nicolaus started coverage on shares of Cabot Oil & Gas in a research note on Tuesday, May 22nd. They set a “hold” rating and a $22.00 target price on the stock. ValuEngine cut shares of Cabot Oil & Gas from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. Finally, TD Securities reiterated a “buy” rating and set a $30.00 price target (up previously from $29.00) on shares of Cabot Oil & Gas in a report on Friday, July 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company. Cabot Oil & Gas presently has a consensus rating of “Buy” and a consensus target price of $29.95.
Cabot Oil & Gas Company 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 172,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; and the Eagle Ford Shale with approximately 79,000 net acres in the oil window of the play located in Atascosa, Frio, and La Salle Counties, Texas.
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