Luminus Management LLC bought a new stake in shares of Cabot Oil & Gas Co. (NYSE:COG) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 4,728,411 shares of the oil and gas exploration company’s stock, valued at approximately $135,232,000. Cabot Oil & Gas accounts for 2.9% of Luminus Management LLC’s holdings, making the stock its 6th biggest position. Luminus Management LLC owned 1.02% of Cabot Oil & Gas as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Advisors Asset Management Inc. purchased a new stake in shares of Cabot Oil & Gas during the 3rd quarter valued at about $130,000. MHI Funds LLC acquired a new stake in Cabot Oil & Gas during the 4th quarter valued at approximately $147,000. Avestar Capital LLC acquired a new stake in Cabot Oil & Gas during the 4th quarter valued at approximately $151,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Cabot Oil & Gas during the 4th quarter valued at approximately $186,000. Finally, Calamos Advisors LLC acquired a new stake in Cabot Oil & Gas during the 4th quarter valued at approximately $202,000. Institutional investors and hedge funds own 98.57% of the company’s stock.
A number of equities research analysts have weighed in on the company. Williams Capital set a $30.00 price objective on Cabot Oil & Gas and gave the company a “hold” rating in a research note on Friday, February 23rd. Zacks Investment Research lowered Cabot Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 27th. Susquehanna Bancshares restated a “neutral” rating and set a $32.00 price objective on shares of Cabot Oil & Gas in a research note on Wednesday, January 17th. Raymond James Financial lowered Cabot Oil & Gas from an “outperform” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, UBS Group assumed coverage on Cabot Oil & Gas in a research note on Wednesday, March 7th. They set a “neutral” rating and a $28.00 price objective for the company. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $31.21.
Cabot Oil & Gas (NYSE:COG) last issued its earnings results on Friday, February 23rd. The oil and gas exploration company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.09 by $0.04. The company had revenue of $400.50 million during the quarter, compared to analyst estimates of $422.12 million. Cabot Oil & Gas had a return on equity of 8.60% and a net margin of 5.69%. The business’s revenue was up 26.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 EPS. research analysts expect that Cabot Oil & Gas Co. will post 1.11 earnings per share for the current year.
Cabot Oil & Gas announced that its Board of Directors has initiated a stock repurchase program on Friday, February 23rd that authorizes the company to repurchase 30,000,000 outstanding shares. This repurchase authorization authorizes the oil and gas exploration company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
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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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