Credit Suisse AG decreased its holdings in shares of Cabot Oil & Gas Co. (NYSE:COG) by 25.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 512,304 shares of the oil and gas exploration company’s stock after selling 179,135 shares during the quarter. Credit Suisse AG owned approximately 0.12% of Cabot Oil & Gas worth $11,537,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in COG. Bank of New York Mellon Corp lifted its holdings in Cabot Oil & Gas by 59.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,968,674 shares of the oil and gas exploration company’s stock valued at $261,055,000 after purchasing an additional 4,087,096 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in Cabot Oil & Gas by 67.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,410,628 shares of the oil and gas exploration company’s stock valued at $81,173,000 after purchasing an additional 1,374,966 shares during the last quarter. Marshall Wace LLP acquired a new stake in Cabot Oil & Gas during the 2nd quarter valued at $27,858,000. Millennium Management LLC lifted its holdings in Cabot Oil & Gas by 19.9% during the 2nd quarter. Millennium Management LLC now owns 5,947,652 shares of the oil and gas exploration company’s stock valued at $141,554,000 after purchasing an additional 986,353 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Cabot Oil & Gas by 33.8% during the 2nd quarter. Schroder Investment Management Group now owns 3,900,663 shares of the oil and gas exploration company’s stock valued at $92,290,000 after purchasing an additional 984,756 shares during the last quarter.
COG opened at $25.23 on Friday. Cabot Oil & Gas Co. has a fifty-two week low of $20.94 and a fifty-two week high of $29.56. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.69 and a quick ratio of 1.66. The firm has a market cap of $10.87 billion, a PE ratio of 33.17, a PEG ratio of 0.80 and a beta of 0.30.
Cabot Oil & Gas (NYSE:COG) last posted its earnings results on Friday, October 26th. The oil and gas exploration company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.03). Cabot Oil & Gas had a return on equity of 14.87% and a net margin of 12.69%. The firm had revenue of $545.10 million for the quarter, compared to analyst estimates of $482.74 million. During the same period in the prior year, the business posted $0.07 EPS. The firm’s quarterly revenue was up 41.4% compared to the same quarter last year. On average, sell-side analysts predict that Cabot Oil & Gas Co. will post 1.05 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 16th. Stockholders of record on Wednesday, November 7th were issued a dividend of $0.07 per share. The ex-dividend date was Tuesday, November 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.11%. This is an increase from Cabot Oil & Gas’s previous quarterly dividend of $0.06. Cabot Oil & Gas’s dividend payout ratio (DPR) is currently 58.33%.
Several brokerages have issued reports on COG. Tudor Pickering downgraded Cabot Oil & Gas from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. Goldman Sachs Group downgraded Cabot Oil & Gas from a “buy” rating to a “neutral” rating and set a $29.00 price target for the company. in a report on Tuesday, November 20th. Zacks Investment Research reaffirmed a “buy” rating and set a $27.00 price target on shares of Cabot Oil & Gas in a report on Monday, November 12th. Morgan Stanley raised their price target on Cabot Oil & Gas from $24.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, November 20th. Finally, JPMorgan Chase & Co. set a $32.00 price target on Cabot Oil & Gas and gave the company a “buy” rating in a report on Friday. Three analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $28.37.
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Cabot Oil & Gas Company Profile
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 172,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; and the Eagle Ford Shale with approximately 79,000 net acres in the oil window of the play located in Atascosa, Frio, and La Salle Counties, Texas.
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