Cabot Oil & Gas Corporation (COG) Given Average Recommendation of “Buy” by Brokerages
Shares of Cabot Oil & Gas Corporation (NYSE:COG) have been assigned a consensus recommendation of “Buy” from the twenty-six analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $30.69.
COG has been the topic of a number of recent analyst reports. TheStreet cut Cabot Oil & Gas from a “c” rating to a “d+” rating in a report on Thursday, August 24th. Credit Suisse Group initiated coverage on Cabot Oil & Gas in a report on Monday. They set a “neutral” rating and a $30.00 target price on the stock. Scotiabank set a $30.00 target price on Cabot Oil & Gas and gave the stock a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research upgraded Cabot Oil & Gas from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Finally, Jefferies Group set a $24.00 target price on Cabot Oil & Gas and gave the stock a “hold” rating in a report on Monday, August 28th.
Shares of Cabot Oil & Gas (NYSE COG) traded up $0.16 on Thursday, reaching $27.76. The company’s stock had a trading volume of 4,039,700 shares, compared to its average volume of 5,911,909. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.61 and a current ratio of 1.64. Cabot Oil & Gas has a 12-month low of $20.55 and a 12-month high of $29.57. The company has a market capitalization of $12,765.23, a PE ratio of 72.63, a P/E/G ratio of 1.86 and a beta of 0.52.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Wednesday, November 8th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Tuesday, November 7th. Cabot Oil & Gas’s dividend payout ratio (DPR) is presently -64.51%.
In related news, Chairman Dan O. Dinges sold 66,610 shares of Cabot Oil & Gas stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $27.92, for a total value of $1,859,751.20. Following the sale, the chairman now 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 SEC, which can be accessed through this link. Also, Director Robert Kelley bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was purchased at an average cost of $27.47 per share, for a total transaction of $54,940.00. Following the transaction, the director now owns 619,500 shares in the company, valued at approximately $17,017,665. The disclosure for this purchase can be found here. Insiders own 1.60% of the company’s stock.
A number of institutional investors have recently made changes to their positions in COG. Daiwa Securities Group Inc. raised its position in Cabot Oil & Gas by 9.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 13,500 shares of the oil and gas exploration company’s stock valued at $339,000 after buying an additional 1,150 shares during the last quarter. Sei Investments Co. raised its position in Cabot Oil & Gas by 28.0% in the 2nd quarter. Sei Investments Co. now owns 96,650 shares of the oil and gas exploration company’s stock valued at $2,424,000 after buying an additional 21,162 shares during the last quarter. IFP Advisors Inc raised its position in Cabot Oil & Gas by 11.1% in the 2nd quarter. IFP Advisors Inc now owns 4,569 shares of the oil and gas exploration company’s stock valued at $115,000 after buying an additional 457 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Cabot Oil & Gas by 3.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,526,610 shares of the oil and gas exploration company’s stock valued at $38,288,000 after buying an additional 55,738 shares during the last quarter. Finally, Dupont Capital Management Corp acquired a new stake in Cabot Oil & Gas in the 2nd quarter valued at approximately $1,946,000. 95.69% of the stock is currently owned by institutional investors and hedge funds.
About Cabot Oil & Gas
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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