Cabot Oil & Gas Co. (NYSE:COG) Shares Sold by Lucia Wealth Services LLC

Lucia Wealth Services LLC decreased its position in Cabot Oil & Gas Co. (NYSE:COG) by 18.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,361 shares of the oil and gas exploration company’s stock after selling 9,491 shares during the quarter. Lucia Wealth Services LLC’s holdings in Cabot Oil & Gas were worth $973,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Connable Office Inc. grew its holdings in Cabot Oil & Gas by 0.8% in the 1st quarter. Connable Office Inc. now owns 67,508 shares of the oil and gas exploration company’s stock valued at $1,762,000 after buying an additional 549 shares during the period. Nicollet Investment Management Inc. grew its holdings in Cabot Oil & Gas by 1.7% in the 1st quarter. Nicollet Investment Management Inc. now owns 34,396 shares of the oil and gas exploration company’s stock valued at $898,000 after buying an additional 570 shares during the period. Carroll Financial Associates Inc. grew its holdings in Cabot Oil & Gas by 50.4% in the 2nd quarter. Carroll Financial Associates Inc. now owns 1,806 shares of the oil and gas exploration company’s stock valued at $41,000 after buying an additional 605 shares during the period. Sumitomo Mitsui Asset Management Company LTD grew its holdings in Cabot Oil & Gas by 2.0% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 31,159 shares of the oil and gas exploration company’s stock valued at $813,000 after buying an additional 619 shares during the period. Finally, Exane Derivatives grew its holdings in Cabot Oil & Gas by 1.6% in the 1st quarter. Exane Derivatives now owns 40,887 shares of the oil and gas exploration company’s stock valued at $1,067,000 after buying an additional 634 shares during the period. 95.21% of the stock is owned by hedge funds and other institutional investors.

COG has been the subject of several recent analyst reports. Morgan Stanley set a $23.00 price target on Cabot Oil & Gas and gave the company a “hold” rating in a report on Monday, June 24th. Tudor Pickering upgraded Cabot Oil & Gas from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research cut Cabot Oil & Gas from a “buy” rating to a “hold” rating in a report on Monday, May 20th. TheStreet cut Cabot Oil & Gas from a “b” rating to a “c+” rating in a report on Tuesday, July 9th. Finally, Williams Capital restated a “hold” rating and issued a $27.00 price target on shares of Cabot Oil & Gas in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. Cabot Oil & Gas currently has an average rating of “Buy” and an average target price of $28.14.

In related news, Director Peter B. Delaney purchased 9,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was purchased at an average price of $19.28 per share, for a total transaction of $173,520.00. Following the acquisition, the director now directly owns 16,925 shares in the company, valued at $326,314. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by insiders.

Shares of NYSE:COG opened at $18.91 on Friday. The company has a quick ratio of 2.75, a current ratio of 2.70 and a debt-to-equity ratio of 0.52. Cabot Oil & Gas Co. has a 1 year low of $18.39 and a 1 year high of $27.65. The stock has a market cap of $8.09 billion, a PE ratio of 16.73, a P/E/G ratio of 0.74 and a beta of 0.52. The business’s 50-day moving average price is $22.69.

Cabot Oil & Gas (NYSE:COG) last issued its earnings results on Friday, July 26th. The oil and gas exploration company reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.05. Cabot Oil & Gas had a return on equity of 34.79% and a net margin of 34.51%. The business had revenue of $534.12 million during the quarter, compared to analysts’ expectations of $476.10 million. During the same quarter in the previous year, the business earned $0.13 EPS. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. Research analysts expect that Cabot Oil & Gas Co. will post 1.74 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Wednesday, August 7th. Cabot Oil & Gas’s payout ratio is currently 31.86%.

Cabot Oil & Gas declared that its board has authorized a share buyback program on Friday, July 26th that authorizes the company to repurchase 25,000,000 shares. This repurchase authorization authorizes the oil and gas exploration company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Cabot Oil & Gas 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 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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