Riverpark Capital Management LLC acquired a new stake in Cabot Oil & Gas Co. (NYSE:COG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 334,657 shares of the oil and gas exploration company’s stock, valued at approximately $9,571,000. Riverpark Capital Management LLC owned approximately 0.07% of Cabot Oil & Gas at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in COG. Crossmark Global Holdings Inc. purchased a new position in Cabot Oil & Gas during the third quarter worth $860,000. Boston Partners purchased a new position in Cabot Oil & Gas during the third quarter worth $64,249,000. Bessemer Group Inc. increased its position in Cabot Oil & Gas by 55.7% during the third quarter. Bessemer Group Inc. now owns 145,476 shares of the oil and gas exploration company’s stock worth $3,891,000 after buying an additional 52,036 shares in the last quarter. FDx Advisors Inc. increased its position in Cabot Oil & Gas by 61.5% during the third quarter. FDx Advisors Inc. now owns 17,371 shares of the oil and gas exploration company’s stock worth $465,000 after buying an additional 6,614 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Cabot Oil & Gas by 3.1% during the third quarter. BNP Paribas Arbitrage SA now owns 318,353 shares of the oil and gas exploration company’s stock worth $8,516,000 after buying an additional 9,526 shares in the last quarter. 98.57% of the stock is owned by institutional investors.
Several equities analysts have weighed in on COG shares. Morgan Stanley reissued a “sell” rating on shares of Cabot Oil & Gas in a research report on Thursday, December 14th. Raymond James Financial downgraded Cabot Oil & Gas from an “outperform” rating to a “sell” rating in a research report on Tuesday, January 2nd. Zacks Investment Research raised Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Tuesday, January 2nd. Credit Suisse Group began coverage on Cabot Oil & Gas in a research report on Monday, December 11th. They set a “neutral” rating and a $30.00 price target for the company. Finally, Tudor Pickering raised Cabot Oil & Gas from a “hold” rating to a “buy” rating in a research report on Monday, February 12th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target 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 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.04. Cabot Oil & Gas had a return on equity of 8.60% and a net margin of 5.69%. The firm had revenue of $400.50 million for the quarter, compared to analysts’ expectations of $422.12 million. During the same quarter last year, the firm earned $0.01 earnings per share. The firm’s revenue for the quarter was up 26.5% compared to the same quarter last year. equities analysts forecast that Cabot Oil & Gas Co. will post 1.11 EPS for the current fiscal year.
Cabot Oil & Gas declared that its Board of Directors has authorized a share buyback plan on Friday, February 23rd that permits the company to repurchase 30,000,000 outstanding shares. This repurchase authorization permits the oil and gas exploration company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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Cabot Oil & Gas 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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