Public Employees Retirement Association of Colorado Decreases Holdings in Cabot Oil & Gas Co. (COG)

Public Employees Retirement Association of Colorado reduced its stake in Cabot Oil & Gas Co. (NYSE:COG) by 18.5% during the 1st quarter, Holdings Channel reports. The firm owned 69,815 shares of the oil and gas exploration company’s stock after selling 15,898 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Cabot Oil & Gas were worth $1,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in Cabot Oil & Gas by 13.1% during the first quarter. Janus Henderson Group PLC now owns 1,647,588 shares of the oil and gas exploration company’s stock worth $43,002,000 after purchasing an additional 191,268 shares during the period. First Republic Investment Management Inc. lifted its position in Cabot Oil & Gas by 7.2% during the first quarter. First Republic Investment Management Inc. now owns 24,867 shares of the oil and gas exploration company’s stock worth $649,000 after purchasing an additional 1,664 shares during the period. Highland Associates Inc. bought a new stake in Cabot Oil & Gas during the first quarter worth about $3,101,000. Cullen Frost Bankers Inc. bought a new stake in Cabot Oil & Gas during the first quarter worth about $88,000. Finally, Janney Montgomery Scott LLC lifted its position in Cabot Oil & Gas by 3.2% during the first quarter. Janney Montgomery Scott LLC now owns 31,004 shares of the oil and gas exploration company’s stock worth $809,000 after purchasing an additional 947 shares during the period. Hedge funds and other institutional investors own 94.88% of the company’s stock.

Several research firms recently weighed in on COG. Williams Capital reaffirmed a “hold” rating and set a $28.00 price objective on shares of Cabot Oil & Gas in a research report on Sunday, April 21st. Zacks Investment Research raised shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Tuesday, March 26th. TD Securities raised their price objective on shares of Cabot Oil & Gas from $30.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. ValuEngine upgraded shares of Cabot Oil & Gas from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, KeyCorp began coverage on shares of Cabot Oil & Gas in a report on Monday, January 14th. They issued a “sector weight” rating and a $24.18 price objective for the company. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Cabot Oil & Gas presently has a consensus rating of “Buy” and an average price target of $28.64.

NYSE:COG opened at $25.94 on Friday. The company has a market cap of $10.83 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 0.37 and a beta of 0.62. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.83 and a quick ratio of 2.75. Cabot Oil & Gas Co. has a fifty-two week low of $20.94 and a fifty-two week high of $27.65.

Cabot Oil & Gas (NYSE:COG) last released its earnings results on Friday, April 26th. The oil and gas exploration company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.09. The business had revenue of $641.70 million during the quarter, compared to the consensus estimate of $674.71 million. Cabot Oil & Gas had a net margin of 29.81% and a return on equity of 31.52%. The company’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 EPS. On average, sell-side analysts expect that Cabot Oil & Gas Co. will post 1.94 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Tuesday, May 14th. This is an increase from Cabot Oil & Gas’s previous quarterly dividend of $0.07. Cabot Oil & Gas’s dividend payout ratio is currently 24.78%.

In other Cabot Oil & Gas news, insider Jeffrey W. Hutton sold 150,720 shares of the 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 completion of the sale, the insider now owns 629,270 shares of the company’s stock, valued at approximately $16,430,239.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.

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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.

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

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