Shufro Rose & Co. LLC raised its holdings in Cabot Oil & Gas Co. (NYSE:COG) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 653,469 shares of the oil and gas exploration company’s stock after purchasing an additional 8,771 shares during the period. Cabot Oil & Gas makes up about 1.5% of Shufro Rose & Co. LLC’s portfolio, making the stock its 24th largest holding. Shufro Rose & Co. LLC’s holdings in Cabot Oil & Gas were worth $15,004,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Meridian Wealth Management LLC bought a new stake in shares of Cabot Oil & Gas during the 1st quarter worth approximately $25,000. Paragon Capital Management LLC bought a new stake in shares of Cabot Oil & Gas during the 1st quarter worth approximately $26,000. Carroll Financial Associates Inc. lifted its holdings 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 worth $31,000 after acquiring an additional 791 shares during the period. Pearl River Capital LLC bought a new stake in shares of Cabot Oil & Gas during the 1st quarter worth approximately $32,000. Finally, Advisory Services Network LLC bought a new stake in shares of Cabot Oil & Gas during the 4th quarter worth approximately $40,000. 95.21% of the stock is owned by hedge funds and other institutional investors.
COG stock traded down $0.46 during trading on Friday, reaching $18.27. 12,909,129 shares of the company were exchanged, compared to its average volume of 7,634,436. The business’s 50-day moving average is $22.59. The company has a market capitalization of $7.84 billion, a P/E ratio of 16.17, a price-to-earnings-growth ratio of 0.72 and a beta of 0.51. Cabot Oil & Gas Co. has a twelve month low of $18.27 and a twelve month high of $27.65. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.70 and a quick ratio of 2.75.
Cabot Oil & Gas declared that its Board of Directors has initiated a stock buyback plan on Friday, July 26th that allows the company to repurchase 25,000,000 shares. This repurchase authorization allows the oil and gas exploration company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Wednesday, August 7th. Cabot Oil & Gas’s dividend payout ratio is 31.86%.
In related news, Director Peter B. Delaney acquired 9,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was acquired at an average cost of $19.28 per share, for a total transaction of $173,520.00. Following the transaction, the director now directly owns 16,925 shares in the company, valued at $326,314. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by corporate insiders.
A number of analysts have recently weighed in on the stock. TheStreet downgraded shares of Cabot Oil & Gas from a “b” rating to a “c+” rating in a report on Tuesday, July 9th. Zacks Investment Research downgraded shares of Cabot Oil & Gas from a “buy” rating to a “hold” rating in a report on Monday, May 20th. TD Securities cut their price target on shares of Cabot Oil & Gas from $29.00 to $27.00 and set a “buy” rating for the company in a report on Monday, July 29th. Cowen assumed coverage on shares of Cabot Oil & Gas in a report on Tuesday, April 9th. They set an “outperform” rating and a $32.00 price target for the company. Finally, Citigroup cut their price target on shares of Cabot Oil & Gas from $28.00 to $26.00 and set a “buy” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $27.83.
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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