Cabot Oil & Gas Co. (NYSE:COG) Chairman Dan O. Dinges purchased 20,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was bought at an average price of $16.34 per share, for a total transaction of $326,800.00. Following the completion of the acquisition, the chairman now directly owns 3,104,405 shares in the company, valued at approximately $50,725,977.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
COG traded up $0.28 on Monday, reaching $16.75. 7,818,712 shares of the stock were exchanged, compared to its average volume of 6,526,595. The company’s 50-day moving average price is $20.84 and its 200 day moving average price is $24.26. Cabot Oil & Gas Co. has a fifty-two week low of $16.01 and a fifty-two week 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 firm has a market capitalization of $6.82 billion, a PE ratio of 14.82, a PEG ratio of 0.62 and a beta of 0.51.
Cabot Oil & Gas (NYSE:COG) last issued its quarterly earnings results on Friday, July 26th. The oil and gas exploration company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.05. Cabot Oil & Gas had a return on equity of 34.79% and a net margin of 34.51%. The company had revenue of $534.12 million during the quarter, compared to analysts’ expectations of $476.10 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s revenue was up 17.8% compared to the same quarter last year. As a group, equities analysts forecast that Cabot Oil & Gas Co. will post 1.74 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be given a dividend of $0.09 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.36 dividend on an annualized basis and a yield of 2.15%. Cabot Oil & Gas’s dividend payout ratio is currently 31.86%.
Institutional investors and hedge funds have recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Cabot Oil & Gas by 3.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,082,763 shares of the oil and gas exploration company’s stock valued at $24,861,000 after buying an additional 38,966 shares during the period. Verition Fund Management LLC purchased a new position in shares of Cabot Oil & Gas in the 2nd quarter valued at about $497,000. Cypress Capital Group purchased a new position in shares of Cabot Oil & Gas in the 2nd quarter valued at about $225,000. Worldquant Millennium Advisors LLC purchased a new position in shares of Cabot Oil & Gas in the 2nd quarter valued at about $16,267,000. Finally, Green Square Asset Management LLC purchased a new position in shares of Cabot Oil & Gas in the 2nd quarter valued at about $441,000. 95.63% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on the company. Tudor Pickering raised Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Friday, August 2nd. Zacks Investment Research cut Cabot Oil & Gas from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. MKM Partners raised Cabot Oil & Gas from a “neutral” rating to a “buy” rating in a research report on Monday, July 29th. Williams Capital reissued 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, Morgan Stanley set a $23.00 price objective on Cabot Oil & Gas and gave the stock a “hold” rating in a research report on Monday, June 24th. 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 company. The company presently has a consensus rating of “Buy” and a consensus price target of $27.83.
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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