Janney Montgomery Scott LLC Raises Holdings in Cabot Oil & Gas Co. (COG)

Janney Montgomery Scott LLC raised its position in Cabot Oil & Gas Co. (NYSE:COG) by 3.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 31,004 shares of the oil and gas exploration company’s stock after purchasing an additional 947 shares during the period. Janney Montgomery Scott LLC’s holdings in Cabot Oil & Gas were worth $809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of COG. Paragon Capital Management LLC bought a new stake in shares of Cabot Oil & Gas during the 1st quarter valued at $26,000. Carroll Financial Associates Inc. lifted its position in shares of Cabot Oil & Gas by 192.9% during the 1st quarter. Carroll Financial Associates Inc. now owns 1,201 shares of the oil and gas exploration company’s stock valued at $31,000 after acquiring an additional 791 shares during the period. Whittier Trust Co. lifted its position in shares of Cabot Oil & Gas by 97.2% during the 4th quarter. Whittier Trust Co. now owns 1,430 shares of the oil and gas exploration company’s stock valued at $32,000 after acquiring an additional 705 shares during the period. Advisory Services Network LLC bought a new stake in shares of Cabot Oil & Gas during the 4th quarter valued at $40,000. Finally, Lavaca Capital LLC bought a new stake in shares of Cabot Oil & Gas during the 4th quarter valued at $45,000. 94.88% of the stock is currently owned by hedge funds and other institutional investors.

Shares of COG stock opened at $26.45 on Tuesday. The company has a quick ratio of 2.75, a current ratio of 2.83 and a debt-to-equity ratio of 0.53. Cabot Oil & Gas Co. has a twelve month low of $20.94 and a twelve month high of $27.65. The firm has a market cap of $11.12 billion, a P/E ratio of 23.41, a price-to-earnings-growth ratio of 0.39 and a beta of 0.62.

Cabot Oil & Gas (NYSE:COG) last announced its quarterly earnings data on Friday, April 26th. The oil and gas exploration company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.09. Cabot Oil & Gas had a return on equity of 31.52% and a net margin of 29.81%. The business had revenue of $641.70 million during the quarter, compared to the consensus estimate of $674.71 million. During the same period in the prior year, the company earned $0.28 EPS. Cabot Oil & Gas’s revenue for the quarter was up 35.6% on a year-over-year basis. On average, research analysts expect that Cabot Oil & Gas Co. will post 1.91 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Wednesday, May 15th will be given a dividend of $0.09 per share. This is an increase from Cabot Oil & Gas’s previous quarterly dividend of $0.07. This represents a $0.36 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Tuesday, May 14th. Cabot Oil & Gas’s dividend payout ratio is currently 31.86%.

In related news, insider Jeffrey W. Hutton sold 150,720 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was 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 directly owns 629,270 shares in the company, valued at approximately $16,430,239.70. The sale was disclosed in a filing with the SEC, which is available through this link. 1.90% of the stock is owned by corporate insiders.

COG has been the subject of a number of recent analyst reports. Williams Capital reiterated a “hold” rating and set a $27.00 target price on shares of Cabot Oil & Gas in a research report on Friday, February 22nd. Zacks Investment Research downgraded Cabot Oil & Gas from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Morgan Stanley set a $27.00 target price on Cabot Oil & Gas and gave the company a “hold” rating in a research report on Tuesday, January 29th. TD Securities upped their target price on Cabot Oil & Gas from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, ValuEngine upgraded Cabot Oil & Gas from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $28.64.

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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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