Royal London Asset Management Ltd. Cuts Stock Position in Cabot Oil & Gas Co. (NYSE:COG)

Royal London Asset Management Ltd. cut its holdings in Cabot Oil & Gas Co. (NYSE:COG) by 2.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 175,325 shares of the oil and gas exploration company’s stock after selling 3,917 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Cabot Oil & Gas were worth $4,021,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC lifted its position in Cabot Oil & Gas by 13.1% in the first 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 during the last quarter. TD Asset Management Inc. lifted its position in Cabot Oil & Gas by 4.8% in the first 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 during the last quarter. BP PLC bought a new stake in Cabot Oil & Gas in the first quarter worth $1,305,000. Alambic Investment Management L.P. bought a new stake in Cabot Oil & Gas in the first quarter worth $880,000. Finally, Zions Bancorporation N.A. bought a new stake in Cabot Oil & Gas in the first quarter worth $55,000. 97.45% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Peter B. Delaney acquired 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was purchased at an average cost of $19.28 per share, for a total transaction of $173,520.00. Following the completion of the acquisition, the director now directly owns 16,925 shares of the company’s stock, valued at approximately $326,314. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.90% of the company’s stock.



COG stock opened at $16.30 on Friday. 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 business has a 50-day moving average price of $20.96 and a 200 day moving average price of $24.30. The company has a market capitalization of $7.11 billion, a P/E ratio of 14.42, a PEG ratio of 0.65 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.

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 for the quarter, beating the consensus estimate of $0.31 by $0.05. The firm had revenue of $534.12 million during the quarter, compared to the consensus estimate of $476.10 million. Cabot Oil & Gas had a return on equity of 34.79% and a net margin of 34.51%. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 earnings per share. On average, analysts anticipate that Cabot Oil & Gas Co. will post 1.74 earnings per share for the current fiscal year.

Cabot Oil & Gas declared that its board has initiated a stock repurchase plan on Friday, July 26th that authorizes the company to repurchase 25,000,000 outstanding shares. This repurchase authorization authorizes the oil and gas exploration company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.36 annualized dividend and a dividend yield of 2.21%. Cabot Oil & Gas’s payout ratio is currently 31.86%.

COG has been the subject of several research analyst reports. Citigroup decreased their target price on Cabot Oil & Gas from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Tudor Pickering upgraded Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Friday, August 2nd. Zacks Investment Research downgraded Cabot Oil & Gas from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. MKM Partners upgraded Cabot Oil & Gas from a “neutral” rating to a “buy” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Co upgraded Cabot Oil & Gas from a “market perform” rating to an “outperform” rating and set a $28.00 target price for the company in a research report on Monday, July 8th. 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. Cabot Oil & Gas 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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Institutional Ownership by Quarter for Cabot Oil & Gas (NYSE:COG)

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