Princeton Portfolio Strategies Group LLC Acquires Shares of 20,775 Cabot Oil & Gas Corporation (NYSE:COG)

Princeton Portfolio Strategies Group LLC bought a new position in Cabot Oil & Gas Corporation (NYSE:COG) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 20,775 shares of the oil and gas exploration company’s stock, valued at approximately $521,000.

Other large investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cabot Oil & Gas Corporation by 59.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 165,521 shares of the oil and gas exploration company’s stock worth $4,151,000 after purchasing an additional 61,978 shares during the period. Neuberger Berman Group LLC increased its stake in shares of Cabot Oil & Gas Corporation by 11.3% during the second quarter. Neuberger Berman Group LLC now owns 20,664,730 shares of the oil and gas exploration company’s stock valued at $518,271,000 after buying an additional 2,095,126 shares during the period. Federated Investors Inc. PA increased its stake in shares of Cabot Oil & Gas Corporation by 1,257.5% during the second quarter. Federated Investors Inc. PA now owns 130,509 shares of the oil and gas exploration company’s stock valued at $3,273,000 after buying an additional 120,895 shares during the period. Engineers Gate Manager LP purchased a new position in shares of Cabot Oil & Gas Corporation during the second quarter valued at approximately $745,000. Finally, Synovus Financial Corp increased its stake in shares of Cabot Oil & Gas Corporation by 4,949.8% during the second quarter. Synovus Financial Corp now owns 60,800 shares of the oil and gas exploration company’s stock valued at $1,526,000 after buying an additional 59,596 shares during the period. Institutional investors own 96.30% of the company’s stock.

In related news, insider Jeffrey W. Hutton sold 11,918 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $26.79, for a total value of $319,283.22. Following the completion of the sale, the insider now owns 635,124 shares in the company, valued at $17,014,971.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.60% of the stock is owned by company insiders.

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Several equities research analysts recently weighed in on the company. Bank of America Corporation raised Cabot Oil & Gas Corporation from a “neutral” rating to a “buy” rating and upped their price target for the stock 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. Cowen and Company reissued a “buy” rating and issued a $30.00 target price on shares of Cabot Oil & Gas Corporation in a report on Tuesday, September 12th. BMO Capital Markets set a $30.00 target price on Cabot Oil & Gas Corporation and gave the stock a “buy” rating in a report on Sunday, July 30th. Finally, Scotiabank set a $28.00 target price on Cabot Oil & Gas Corporation and gave the stock a “buy” rating in a report on Saturday, July 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $29.18.

Cabot Oil & Gas Corporation (NYSE:COG) traded down 0.251% during mid-day trading on Wednesday, hitting $25.815. The company had a trading volume of 877,943 shares. The company has a 50-day moving average price of $26.23 and a 200 day moving average price of $24.61. Cabot Oil & Gas Corporation has a 12 month low of $20.02 and a 12 month high of $27.14. The firm’s market capitalization is $11.94 billion.

Cabot Oil & Gas Corporation (NYSE:COG) last announced its earnings results on Thursday, July 27th. The oil and gas exploration company reported $0.14 earnings per share 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 business had revenue of $460.50 million for the quarter, compared to analyst estimates of $454.76 million. During the same quarter last year, the company posted ($0.07) EPS. Cabot Oil & Gas Corporation’s quarterly revenue was up 86.6% on a year-over-year basis. Equities analysts forecast that Cabot Oil & Gas Corporation will post $0.57 EPS for the current fiscal year.

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.

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

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