Cabot Oil & Gas Co. (NYSE:COG) saw a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 27,792,987 shares, a decline of 24.5% from the January 15th total of 36,830,393 shares. Currently, 6.6% of the company’s shares are sold short. Based on an average daily volume of 6,240,216 shares, the short-interest ratio is presently 4.5 days.
Several research firms have recently issued reports on COG. Morgan Stanley raised their price objective on Cabot Oil & Gas from $23.00 to $24.00 and gave the company a “hold” rating in a research note on Monday, October 29th. TheStreet raised shares of Cabot Oil & Gas from a “c” rating to a “b-” rating in a research report on Friday, October 26th. Citigroup raised Cabot Oil & Gas from a “neutral” rating to a “buy” rating in a research note on Friday, December 21st. KeyCorp initiated coverage on Cabot Oil & Gas in a research note on Monday, January 14th. They set a “sector weight” rating and a $24.18 target price on the stock. Finally, Bank of America upgraded shares of Cabot Oil & Gas to a “buy” rating and set a $32.00 price target for the company in a research report on Thursday, December 20th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Cabot Oil & Gas presently has a consensus rating of “Buy” and an average price target of $28.29.
Cabot Oil & Gas stock opened at $24.59 on Thursday. The stock has a market cap of $10.69 billion, a P/E ratio of 51.23 and a beta of 0.54. Cabot Oil & Gas has a 52 week low of $20.94 and a 52 week high of $27.40. The company has a current ratio of 1.69, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 7th. Shareholders of record on Thursday, January 24th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.14%. The ex-dividend date was Wednesday, January 23rd. Cabot Oil & Gas’s dividend payout ratio (DPR) is 58.33%.
A number of large investors have recently added to or reduced their stakes in COG. Advisors Asset Management Inc. boosted its stake in shares of Cabot Oil & Gas by 58.0% in the second quarter. Advisors Asset Management Inc. now owns 18,557 shares of the oil and gas exploration company’s stock worth $442,000 after acquiring an additional 6,811 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Cabot Oil & Gas by 59.4% during the second quarter. Bank of New York Mellon Corp now owns 10,968,674 shares of the oil and gas exploration company’s stock worth $261,055,000 after acquiring an additional 4,087,096 shares in the last quarter. DNB Asset Management AS lifted its position in Cabot Oil & Gas by 10.7% during the third quarter. DNB Asset Management AS now owns 61,828 shares of the oil and gas exploration company’s stock valued at $1,392,000 after purchasing an additional 6,000 shares during the last quarter. First Hawaiian Bank purchased a new stake in shares of Cabot Oil & Gas during the 3rd quarter valued at about $401,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of Cabot Oil & Gas by 2.1% during the third quarter. Nisa Investment Advisors LLC now owns 133,577 shares of the oil and gas exploration company’s stock valued at $3,008,000 after buying an additional 2,762 shares during the period. Institutional investors and hedge funds own 94.88% of the company’s stock.
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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