Moody Lynn & Lieberson LLC trimmed its position in shares of Cabot Oil & Gas Co. (NYSE:COG) by 9.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,315 shares of the oil and gas exploration company’s stock after selling 18,534 shares during the quarter. Moody Lynn & Lieberson LLC’s holdings in Cabot Oil & Gas were worth $3,933,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Meridian Wealth Management LLC acquired a new stake in Cabot Oil & Gas in the 1st quarter valued at $25,000. Paragon Capital Management LLC acquired a new stake in Cabot Oil & Gas in the 1st quarter valued at $26,000. Joseph P. Lucia & Associates LLC acquired a new stake in Cabot Oil & Gas in the 1st quarter valued at $40,000. Carroll Financial Associates Inc. grew its stake in Cabot Oil & Gas by 192.9% in 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. Finally, Pearl River Capital LLC acquired a new stake in Cabot Oil & Gas during the 1st quarter worth $32,000. 95.21% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Peter B. Delaney purchased 9,000 shares of the stock in a transaction dated Tuesday, July 30th. The shares were purchased at an average price of $19.28 per share, with a total value of $173,520.00. Following the transaction, the director now owns 16,925 shares in the company, valued at approximately $326,314. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.90% of the company’s stock.
Shares of COG stock traded down $0.09 on Friday, hitting $18.64. 1,468,183 shares of the stock traded hands, compared to its average volume of 6,233,660. The company’s 50-day moving average price is $22.69. The company has a quick ratio of 2.75, a current ratio of 2.70 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $8.09 billion, a PE ratio of 16.50, a PEG ratio of 0.74 and a beta of 0.52. Cabot Oil & Gas Co. has a twelve month low of $18.39 and a twelve month high of $27.65.
Cabot Oil & Gas (NYSE:COG) last announced its quarterly earnings results on Friday, July 26th. The oil and gas exploration company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.05. The firm had revenue of $534.12 million for the quarter, compared to analysts’ expectations of $476.10 million. Cabot Oil & Gas had a net margin of 34.51% and a return on equity of 34.79%. The company’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS. As a group, equities research analysts expect that Cabot Oil & Gas Co. will post 1.74 EPS for the current fiscal year.
Cabot Oil & Gas announced that its Board of Directors has authorized a stock repurchase program on Friday, July 26th that allows the company to buyback 25,000,000 outstanding shares. This buyback authorization allows the oil and gas exploration company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are 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 dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.36 annualized dividend and a dividend yield of 1.93%. Cabot Oil & Gas’s payout ratio is 31.86%.
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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