Stone Ridge Asset Management LLC Acquires New Stake in Cabot Oil & Gas Co. (COG)

Stone Ridge Asset Management LLC purchased a new position in Cabot Oil & Gas Co. (NYSE:COG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,601 shares of the oil and gas exploration company’s stock, valued at approximately $326,000.

Several other large investors also recently modified their holdings of COG. M&T Bank Corp boosted its position in Cabot Oil & Gas by 2.2% during the 4th quarter. M&T Bank Corp now owns 21,611 shares of the oil and gas exploration company’s stock valued at $484,000 after buying an additional 465 shares during the period. First Quadrant L P CA raised its holdings in Cabot Oil & Gas by 7.0% in the 4th quarter. First Quadrant L P CA now owns 7,600 shares of the oil and gas exploration company’s stock worth $170,000 after purchasing an additional 500 shares in the last quarter. JOYN Advisors Inc. raised its holdings in Cabot Oil & Gas by 31.2% in the 4th quarter. JOYN Advisors Inc. now owns 2,151 shares of the oil and gas exploration company’s stock worth $48,000 after purchasing an additional 511 shares in the last quarter. Gateway Investment Advisers LLC raised its holdings in Cabot Oil & Gas by 2.9% in the 4th quarter. Gateway Investment Advisers LLC now owns 20,042 shares of the oil and gas exploration company’s stock worth $448,000 after purchasing an additional 567 shares in the last quarter. Finally, DNB Asset Management AS raised its holdings in Cabot Oil & Gas by 1.0% in the 4th quarter. DNB Asset Management AS now owns 62,428 shares of the oil and gas exploration company’s stock worth $1,395,000 after purchasing an additional 600 shares in the last quarter. 94.88% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have commented on the stock. Williams Capital restated a “hold” rating and issued a $28.00 price objective on shares of Cabot Oil & Gas in a report on Sunday. TD Securities increased their price target on shares of Cabot Oil & Gas from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Cowen started coverage on shares of Cabot Oil & Gas in a research note on Tuesday, April 9th. They issued an “outperform” rating and a $32.00 price target for the company. Zacks Investment Research upgraded shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Tuesday, April 2nd. Finally, Guggenheim set a $27.00 price objective on shares of Cabot Oil & Gas and gave the company a “hold” rating in a research note on Friday, February 22nd. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Cabot Oil & Gas has an average rating of “Buy” and a consensus price target of $28.95.

Shares of COG traded down $0.91 on Friday, reaching $26.13. The company’s stock had a trading volume of 5,955,880 shares, compared to its average volume of 4,661,056. The company has a current ratio of 1.90, a quick ratio of 1.86 and a debt-to-equity ratio of 0.59. The company has a market cap of $11.06 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 0.38 and a beta of 0.62. Cabot Oil & Gas Co. has a 12-month low of $20.94 and a 12-month high of $27.65.

Cabot Oil & Gas (NYSE:COG) last posted its quarterly earnings data on Friday, February 22nd. The oil and gas exploration company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Cabot Oil & Gas had a return on equity of 23.35% and a net margin of 25.46%. The business had revenue of $716.30 million during the quarter, compared to analysts’ expectations of $659.51 million. During the same period in the previous year, the business posted $0.13 EPS. The business’s quarterly revenue was up 78.9% compared to the same quarter last year. As a group, analysts predict that Cabot Oil & Gas Co. will post 1.97 EPS for the current fiscal year.

In other Cabot Oil & Gas news, insider Jeffrey W. Hutton sold 150,720 shares of Cabot Oil & Gas stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $26.11, for a total transaction of $3,935,299.20. Following the transaction, the insider now owns 629,270 shares of the company’s stock, valued at $16,430,239.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by insiders.

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About Cabot Oil & Gas

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 174,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

Further Reading: Hedge Funds Explained

Institutional Ownership by Quarter for Cabot Oil & Gas (NYSE:COG)

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