Pacer Advisors Inc. Grows Stock Position in Cabot Oil & Gas Co. (NYSE:COG)

Pacer Advisors Inc. lifted its stake in shares of Cabot Oil & Gas Co. (NYSE:COG) by 159.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,827 shares of the oil and gas exploration company’s stock after purchasing an additional 65,098 shares during the quarter. Pacer Advisors Inc.’s holdings in Cabot Oil & Gas were worth $1,859,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Meridian Wealth Management LLC acquired a new position in Cabot Oil & Gas during the first quarter worth $25,000. Stonebridge Capital Advisors LLC acquired a new position in Cabot Oil & Gas during the second quarter worth $26,000. North Star Investment Management Corp. acquired a new position in Cabot Oil & Gas during the third quarter worth $29,000. Carroll Financial Associates Inc. grew its holdings in Cabot Oil & Gas by 50.4% during the second quarter. Carroll Financial Associates Inc. now owns 1,806 shares of the oil and gas exploration company’s stock worth $41,000 after acquiring an additional 605 shares during the period. Finally, First Interstate Bank grew its holdings in Cabot Oil & Gas by 278.6% during the second quarter. First Interstate Bank now owns 1,893 shares of the oil and gas exploration company’s stock worth $43,000 after acquiring an additional 1,393 shares during the period. Institutional investors and hedge funds own 96.91% of the company’s stock.

Cabot Oil & Gas stock opened at $17.99 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.61 and a current ratio of 2.70. The firm has a market capitalization of $7.35 billion, a price-to-earnings ratio of 9.70, a price-to-earnings-growth ratio of 0.71 and a beta of 0.53. Cabot Oil & Gas Co. has a fifty-two week low of $16.01 and a fifty-two week high of $27.65. The stock’s fifty day moving average is $17.71 and its two-hundred day moving average is $22.03.

Cabot Oil & Gas (NYSE:COG) last posted its earnings results on Friday, July 26th. The oil and gas exploration company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.05. The company had revenue of $534.12 million for the quarter, compared to analyst estimates 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 revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.13 earnings per share. As a group, sell-side analysts forecast that Cabot Oil & Gas Co. will post 1.64 EPS for the current fiscal year.

Cabot Oil & Gas announced that its board has approved a share repurchase plan on Friday, July 26th that authorizes the company to buyback 25,000,000 outstanding shares. This buyback authorization authorizes the oil and gas exploration company to buy shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

A number of research analysts recently weighed in on the company. Morgan Stanley set a $23.00 price objective on Cabot Oil & Gas and gave the stock a “hold” rating in a report on Monday, June 24th. TD Securities dropped their price objective on Cabot Oil & Gas from $29.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, July 29th. Tudor Pickering raised Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Friday, August 2nd. Williams Capital set a $22.00 price objective on Cabot Oil & Gas and gave the stock a “hold” rating in a report on Monday, September 30th. Finally, Citigroup dropped their price objective on Cabot Oil & Gas from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $27.48.

In related news, Chairman Dan O. Dinges acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were acquired at an average price of $16.34 per share, with a total value of $326,800.00. Following the completion of the purchase, the chairman now directly owns 3,104,405 shares in the company, valued at $50,725,977.70. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Dan O. Dinges acquired 16,755 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average cost of $16.28 per share, for a total transaction of $272,771.40. Following the purchase, the chief executive officer now owns 3,104,405 shares of the company’s stock, valued at $50,539,713.40. The disclosure for this purchase can be found here. Insiders acquired 53,255 shares of company stock worth $895,416 in the last three months. 1.90% of the stock is owned by corporate insiders.

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

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