Worldquant Millennium Advisors LLC Invests $16.27 Million in Cabot Oil & Gas Co. (NYSE:COG)

Worldquant Millennium Advisors LLC purchased a new position in shares of Cabot Oil & Gas Co. (NYSE:COG) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 708,491 shares of the oil and gas exploration company’s stock, valued at approximately $16,267,000. Worldquant Millennium Advisors LLC owned approximately 0.17% of Cabot Oil & Gas at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Green Square Asset Management LLC purchased a new stake in shares of Cabot Oil & Gas during the second quarter worth about $441,000. Stonebridge Capital Advisors LLC purchased a new stake in shares of Cabot Oil & Gas during the second quarter worth about $26,000. Advisors Capital Management LLC grew its holdings in shares of Cabot Oil & Gas by 6.2% during the second quarter. Advisors Capital Management LLC now owns 127,391 shares of the oil and gas exploration company’s stock worth $2,925,000 after buying an additional 7,478 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Cabot Oil & Gas by 37,033.0% during the second quarter. Nuveen Asset Management LLC now owns 4,314,487 shares of the oil and gas exploration company’s stock worth $99,061,000 after buying an additional 4,302,868 shares in the last quarter. Finally, Andra AP fonden grew its holdings in shares of Cabot Oil & Gas by 55.3% during the second quarter. Andra AP fonden now owns 232,200 shares of the oil and gas exploration company’s stock worth $5,331,000 after buying an additional 82,700 shares in the last quarter. Institutional investors and hedge funds own 96.62% of the company’s stock.

A number of brokerages have recently commented on COG. Citigroup lowered 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, August 2nd. Tudor Pickering upgraded shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Friday, August 2nd. Wells Fargo & Co upgraded shares of Cabot Oil & Gas from a “market perform” rating to an “outperform” rating and set a $28.00 price target for the company in a report on Monday, July 8th. TheStreet downgraded shares of Cabot Oil & Gas from a “b” rating to a “c+” rating in a report on Tuesday, July 9th. Finally, Wolfe Research upgraded shares of Cabot Oil & Gas from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. Cabot Oil & Gas has an average rating of “Buy” and an average target price of $27.39.

Cabot Oil & Gas stock traded down $0.38 during trading on Wednesday, reaching $17.57. The company had a trading volume of 3,962,553 shares, compared to its average volume of 7,698,133. Cabot Oil & Gas Co. has a 12-month low of $16.01 and a 12-month high of $27.65. The stock’s 50 day moving average price is $17.42 and its two-hundred day moving average price is $22.88. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 0.71 and a beta of 0.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.61 and a current ratio of 2.70.

Cabot Oil & Gas (NYSE:COG) last released its earnings results on Friday, July 26th. The oil and gas exploration company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. Cabot Oil & Gas had a net margin of 34.51% and a return on equity of 34.79%. The firm had revenue of $534.12 million during the quarter, compared to the consensus estimate of $476.10 million. During the same period in the previous year, the firm earned $0.13 earnings per share. Cabot Oil & Gas’s revenue was up 17.8% compared to the same quarter last year. As a group, research analysts expect that Cabot Oil & Gas Co. will post 1.7 earnings per share for the current year.

Cabot Oil & Gas declared that its Board of Directors has authorized a share repurchase plan 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 plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other Cabot Oil & Gas news, CEO Dan O. Dinges purchased 16,755 shares of Cabot Oil & Gas stock in a transaction on Friday, August 16th. The shares were purchased at an average cost of $16.28 per share, with a total value of $272,771.40. Following the completion of the transaction, the chief executive officer now directly owns 3,104,405 shares in the company, valued at approximately $50,539,713.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Dan O. Dinges purchased 20,000 shares of Cabot Oil & Gas stock in a transaction on Monday, August 19th. The shares were acquired at an average cost of $16.34 per share, for a total transaction of $326,800.00. Following the completion of the transaction, the chairman now owns 3,104,405 shares of the company’s stock, valued at $50,725,977.70. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 53,255 shares of company stock valued at $895,416. 1.90% of the stock is owned by insiders.

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.

Recommended Story: Margin

Want to see what other hedge funds are holding COG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cabot Oil & Gas Co. (NYSE:COG).

Institutional Ownership by Quarter for Cabot Oil & Gas (NYSE:COG)

Receive News & Ratings for Cabot Oil & Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot Oil & Gas and related companies with MarketBeat.com's FREE daily email newsletter.