Bessemer Group Inc. lowered its position in Cabot Oil & Gas Co. (NYSE:COG) by 43.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 91,537 shares of the oil and gas exploration company’s stock after selling 70,696 shares during the period. Bessemer Group Inc.’s holdings in Cabot Oil & Gas were worth $2,102,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of COG. Norges Bank purchased a new stake in Cabot Oil & Gas during the 4th quarter worth approximately $76,512,000. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in shares of Cabot Oil & Gas in the 1st quarter valued at $63,479,000. Neuberger Berman Group LLC lifted its stake in shares of Cabot Oil & Gas by 10.4% in the 1st quarter. Neuberger Berman Group LLC now owns 14,287,550 shares of the oil and gas exploration company’s stock valued at $372,905,000 after purchasing an additional 1,343,815 shares during the period. WINTON GROUP Ltd lifted its stake in shares of Cabot Oil & Gas by 4,915.8% in the 2nd quarter. WINTON GROUP Ltd now owns 895,824 shares of the oil and gas exploration company’s stock valued at $20,568,000 after purchasing an additional 877,964 shares during the period. Finally, South Texas Money Management Ltd. acquired a new position in shares of Cabot Oil & Gas in the 1st quarter valued at $16,057,000. 98.73% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:COG traded down $2.64 during trading hours on Friday, reaching $19.15. 19,749,567 shares of the company were exchanged, compared to its average volume of 4,454,671. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.75 and a current ratio of 2.83. The stock has a 50-day moving average of $23.50. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 0.85 and a beta of 0.52. Cabot Oil & Gas Co. has a twelve month low of $20.94 and a twelve month high of $27.65.
Cabot Oil & Gas (NYSE:COG) last issued its earnings results on Friday, July 26th. The oil and gas exploration company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.05. Cabot Oil & Gas had a net margin of 29.81% and a return on equity of 31.52%. The business had revenue of $534.12 million during the quarter, compared to analysts’ expectations of $476.10 million. During the same period in the prior year, the business earned $0.13 earnings per share. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. As a group, research analysts anticipate that Cabot Oil & Gas Co. will post 1.74 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.88%. Cabot Oil & Gas’s dividend payout ratio (DPR) is presently 31.86%.
Several equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. ValuEngine upgraded shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Williams Capital reiterated a “hold” rating and issued a $27.00 target price on shares of Cabot Oil & Gas in a research note on Monday. Citigroup set a $12.00 target price on shares of Avaya and gave the company a “hold” rating in a research note on Monday, July 8th. Finally, Morgan Stanley set a $23.00 target price on shares of Cabot Oil & Gas and gave the company a “hold” rating in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. Cabot Oil & Gas has a consensus rating of “Buy” and a consensus price target of $28.66.
About Cabot Oil & Gas
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 174,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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