Cabot Oil & Gas (NYSE:COG) Lifted to “Buy” at MKM Partners

MKM Partners upgraded shares of Cabot Oil & Gas (NYSE:COG) from a neutral rating to a buy rating in a report published on Monday morning, BenzingaRatingsTable reports.

Several other research analysts have also recently issued reports on COG. TD Securities increased their price objective on Cabot Oil & Gas from $30.00 to $36.00 and gave the stock a buy rating in a research report on Tuesday, April 9th. Citigroup increased their price objective on Cabot Oil & Gas from $28.00 to $28.00 and gave the stock a buy rating in a research report on Monday, July 8th. TheStreet cut Cabot Oil & Gas from a b rating to a c+ rating in a research report on Tuesday, July 9th. Williams Capital reiterated a hold rating and issued a $27.00 price objective on shares of Cabot Oil & Gas in a research report on Monday, July 22nd. Finally, ValuEngine cut Cabot Oil & Gas from a sell rating to a strong sell rating in a research report on Saturday, July 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $28.14.

Shares of NYSE COG opened at $18.73 on Monday. The business’s fifty day moving average is $22.69. The firm has a market capitalization of $8.09 billion, a P/E ratio of 10.68, a PEG ratio of 0.74 and a beta of 0.52. The company has a current ratio of 2.70, a quick ratio of 2.75 and a debt-to-equity ratio of 0.52. Cabot Oil & Gas has a 1-year low of $18.39 and a 1-year high of $27.65.

Cabot Oil & Gas (NYSE:COG) last released its quarterly earnings data on Friday, July 26th. The oil and gas exploration company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.05. The firm had revenue of $534.12 million during the quarter, compared to analysts’ expectations of $476.10 million. Cabot Oil & Gas had a return on equity of 34.79% and a net margin of 34.51%. Cabot Oil & Gas’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 earnings per share. On average, research analysts expect that Cabot Oil & Gas will post 1.74 EPS for the current year.

Cabot Oil & Gas declared that its Board of Directors has authorized a share repurchase plan on Friday, July 26th that permits the company to repurchase 25,000,000 shares. This repurchase authorization permits the oil and gas exploration company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Wednesday, August 7th. Cabot Oil & Gas’s dividend payout ratio is currently 31.86%.

In other news, Director Peter B. Delaney purchased 9,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was acquired at an average price of $19.28 per share, for a total transaction of $173,520.00. Following the completion of the transaction, the director now directly owns 16,925 shares in the company, valued at approximately $326,314. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.90% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of COG. Raymond James & Associates boosted its stake in Cabot Oil & Gas by 172.7% during the fourth quarter. Raymond James & Associates now owns 44,508 shares of the oil and gas exploration company’s stock worth $995,000 after acquiring an additional 28,185 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Cabot Oil & Gas by 19.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,501,665 shares of the oil and gas exploration company’s stock worth $33,572,000 after acquiring an additional 239,959 shares in the last quarter. Stifel Financial Corp boosted its stake in Cabot Oil & Gas by 11.3% during the fourth quarter. Stifel Financial Corp now owns 28,324 shares of the oil and gas exploration company’s stock worth $638,000 after acquiring an additional 2,865 shares in the last quarter. Geode Capital Management LLC boosted its stake in Cabot Oil & Gas by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 5,654,486 shares of the oil and gas exploration company’s stock worth $126,159,000 after acquiring an additional 237,315 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Cabot Oil & Gas during the fourth quarter worth about $267,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Cabot Oil & Gas (NYSE:COG)

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