Cabot Oil & Gas Co. (NYSE:COG) Short Interest Update

Cabot Oil & Gas Co. (NYSE:COG) was the target of a large decrease in short interest in June. As of June 15th, there was short interest totalling 24,188,700 shares, a decrease of 12.8% from the May 15th total of 27,740,800 shares. Approximately 5.8% of the shares of the company are short sold. Based on an average daily volume of 6,080,000 shares, the days-to-cover ratio is presently 4.0 days.

A number of research analysts have issued reports on COG shares. Zacks Investment Research upgraded shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Tuesday, March 26th. Cowen started coverage on shares of Cabot Oil & Gas in a research note on Tuesday, April 9th. They set an “outperform” rating and a $32.00 price target on the stock. TD Securities upped their price target on shares of Cabot Oil & Gas from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Williams Capital restated a “hold” rating and set a $28.00 price target on shares of Cabot Oil & Gas in a research note on Sunday, April 21st. Finally, Morgan Stanley set a $23.00 price target on shares of Cabot Oil & Gas and gave the company a “hold” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Cabot Oil & Gas presently has a consensus rating of “Hold” and an average price target of $28.81.

Several large investors have recently added to or reduced their stakes in the company. Meridian Wealth Management LLC purchased a new stake in Cabot Oil & Gas during the first quarter worth $25,000. Paragon Capital Management LLC purchased a new stake in Cabot Oil & Gas during the first quarter worth $26,000. Joseph P. Lucia & Associates LLC purchased a new stake in Cabot Oil & Gas during the first quarter worth $40,000. Carroll Financial Associates Inc. boosted its holdings in Cabot Oil & Gas by 192.9% during the first quarter. Carroll Financial Associates Inc. now owns 1,201 shares of the oil and gas exploration company’s stock worth $31,000 after buying an additional 791 shares in the last quarter. Finally, Pearl River Capital LLC purchased a new stake in Cabot Oil & Gas during the first quarter worth $32,000. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Shares of NYSE:COG traded up $0.30 during midday trading on Friday, reaching $22.96. The company’s stock had a trading volume of 5,606,487 shares, compared to its average volume of 6,102,464. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 0.82 and a beta of 0.62. Cabot Oil & Gas has a twelve month low of $20.94 and a twelve month high of $27.65. The firm has a fifty day moving average price of $24.95. 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 (NYSE:COG) last released 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 Zacks’ consensus estimate of $0.64 by $0.09. The firm had revenue of $641.70 million for the quarter, compared to analyst estimates of $674.71 million. Cabot Oil & Gas had a net margin of 29.81% and a return on equity of 31.52%. The business’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 earnings per share. Equities analysts predict that Cabot Oil & Gas will post 1.85 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Wednesday, May 15th were paid a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.57%. This is a positive change from Cabot Oil & Gas’s previous quarterly dividend of $0.07. Cabot Oil & Gas’s dividend payout ratio is presently 31.86%.

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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