Cabot Oil & Gas Co. (NYSE:COG) CEO Dan O. Dinges acquired 16,755 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was bought at an average cost of $16.28 per share, with a total value of $272,771.40. Following the acquisition, the chief executive officer now owns 3,104,405 shares in the company, valued at $50,539,713.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
NYSE COG traded up $0.28 during trading hours on Monday, reaching $16.75. The company’s stock had a trading volume of 7,818,712 shares, compared to its average volume of 6,526,595. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 0.62 and a beta of 0.51. Cabot Oil & Gas Co. has a 1-year low of $16.01 and a 1-year 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 2.61. The company’s 50-day moving average is $20.84 and its two-hundred day moving average is $24.26.
Cabot Oil & Gas (NYSE:COG) last released its quarterly earnings results on Friday, July 26th. The oil and gas exploration company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. The company 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 quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 EPS. Equities analysts forecast that Cabot Oil & Gas Co. will post 1.74 EPS for the current fiscal year.
Cabot Oil & Gas declared that its board has authorized a share repurchase program 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 reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COG. Janus Henderson Group PLC increased its stake in Cabot Oil & Gas by 13.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,647,588 shares of the oil and gas exploration company’s stock worth $43,002,000 after buying an additional 191,268 shares in the last quarter. TD Asset Management Inc. increased its stake in Cabot Oil & Gas by 4.8% during the 1st quarter. TD Asset Management Inc. now owns 480,225 shares of the oil and gas exploration company’s stock worth $12,534,000 after buying an additional 22,194 shares in the last quarter. BP PLC purchased a new stake in Cabot Oil & Gas during the 1st quarter worth approximately $1,305,000. Alambic Investment Management L.P. purchased a new stake in Cabot Oil & Gas during the 1st quarter worth approximately $880,000. Finally, Zions Bancorporation N.A. purchased a new stake in Cabot Oil & Gas during the 1st quarter worth approximately $55,000. 95.63% of the stock is owned by institutional investors.
COG has been the subject of several analyst reports. ValuEngine cut Cabot Oil & Gas from a “sell” rating to a “strong sell” rating in a report on Saturday, July 27th. Williams Capital reissued a “hold” rating and issued a $27.00 price objective on shares of Cabot Oil & Gas in a report on Monday, July 22nd. Wells Fargo & Co raised Cabot Oil & Gas from a “market perform” rating to an “outperform” rating and set a $28.00 price objective for the company in a report on Monday, July 8th. MKM Partners raised Cabot Oil & Gas from a “neutral” rating to a “buy” rating in a report on Monday, July 29th. Finally, TD Securities decreased their price objective on Cabot Oil & Gas from $29.00 to $27.00 and set a “buy” rating for the company in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $27.83.
Cabot Oil & Gas Company 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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