Shares of Cabot Oil & Gas Co. (NYSE:COG) have been assigned a consensus rating of “Hold” from the twenty-six analysts that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $31.44.
Several equities analysts have commented on COG shares. Scotiabank set a $32.00 price target on shares of Cabot Oil & Gas and gave the company a “buy” rating in a research note on Saturday, October 21st. Cowen set a $30.00 price objective on Cabot Oil & Gas and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Morgan Stanley set a $33.00 price objective on Cabot Oil & Gas and gave the stock a “buy” rating in a research report on Wednesday, October 18th. BMO Capital Markets set a $30.00 price objective on Cabot Oil & Gas and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Finally, Johnson Rice upgraded Cabot Oil & Gas from an “accumulate” rating to a “buy” rating in a research report on Monday, October 30th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PointState Capital LP increased its holdings in shares of Cabot Oil & Gas by 60.9% in the 2nd quarter. PointState Capital LP now owns 18,011,889 shares of the oil and gas exploration company’s stock valued at $451,738,000 after acquiring an additional 6,818,389 shares during the last quarter. Boston Partners acquired a new position in Cabot Oil & Gas during the third quarter worth approximately $64,249,000. Sanders Capital LLC increased its position in Cabot Oil & Gas by 7.2% during the third quarter. Sanders Capital LLC now owns 29,212,930 shares of the oil and gas exploration company’s stock worth $839,952,000 after buying an additional 1,951,907 shares during the last quarter. First Quadrant L P CA boosted its holdings in shares of Cabot Oil & Gas by 15,112.7% during the fourth quarter. First Quadrant L P CA now owns 1,080,100 shares of the oil and gas exploration company’s stock worth $30,891,000 after acquiring an additional 1,073,000 shares during the period. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Cabot Oil & Gas during the second quarter worth approximately $18,048,000. 96.01% of the stock is currently owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th will be paid a $0.06 dividend. This is a positive change from Cabot Oil & Gas’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, January 23rd. Cabot Oil & Gas’s payout ratio is currently -75.00%.
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Cabot Oil & Gas 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.
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