Orrstown Financial Services Inc. Boosts Position in Cabot Oil & Gas Corporation (NYSE:COG)

Orrstown Financial Services Inc. raised its position in shares of Cabot Oil & Gas Corporation (NYSE:COG) by 3.2% during the second quarter, Holdings Channel reports. The institutional investor owned 20,872 shares of the oil and gas exploration company’s stock after buying an additional 655 shares during the period. Orrstown Financial Services Inc.’s holdings in Cabot Oil & Gas Corporation were worth $523,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of COG. Vanguard Group Inc. increased its position in Cabot Oil & Gas Corporation by 3.7% in the first quarter. Vanguard Group Inc. now owns 46,495,862 shares of the oil and gas exploration company’s stock worth $1,111,717,000 after buying an additional 1,653,616 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Cabot Oil & Gas Corporation by 3,136.9% in the first quarter. BlackRock Inc. now owns 32,973,225 shares of the oil and gas exploration company’s stock worth $788,389,000 after buying an additional 31,954,562 shares during the last quarter. Sanders Capital LLC boosted its stake in shares of Cabot Oil & Gas Corporation by 34.7% in the first quarter. Sanders Capital LLC now owns 25,830,424 shares of the oil and gas exploration company’s stock worth $630,336,000 after buying an additional 6,657,156 shares during the last quarter. FMR LLC boosted its stake in shares of Cabot Oil & Gas Corporation by 32.7% in the first quarter. FMR LLC now owns 25,468,996 shares of the oil and gas exploration company’s stock worth $608,964,000 after buying an additional 6,277,179 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in Cabot Oil & Gas Corporation by 59.5% in the first quarter. Neuberger Berman Group LLC now owns 18,569,604 shares of the oil and gas exploration company’s stock valued at $443,999,000 after buying an additional 6,923,702 shares in the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

Shares of Cabot Oil & Gas Corporation (COG) traded up 0.32% during midday trading on Monday, hitting $25.43. 5,787,967 shares of the stock were exchanged. The firm has a 50-day moving average of $23.13 and a 200-day moving average of $23.09. Cabot Oil & Gas Corporation has a 1-year low of $20.02 and a 1-year high of $26.74. The company’s market capitalization is $11.84 billion.

Cabot Oil & Gas Corporation (NYSE:COG) last announced its earnings results on Friday, April 28th. The oil and gas exploration company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $517.80 million for the quarter, compared to analyst estimates of $464.45 million. Cabot Oil & Gas Corporation had a positive return on equity of 1.05% and a negative net margin of 18.70%. The business’s revenue was up 83.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.13) EPS. On average, equities analysts expect that Cabot Oil & Gas Corporation will post $0.66 EPS for the current year.

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Several analysts recently commented on COG shares. Stifel Nicolaus began coverage on Cabot Oil & Gas Corporation in a research report on Thursday, March 23rd. They issued a “buy” rating and a $30.00 target price on the stock. Scotiabank set a $28.00 target price on Cabot Oil & Gas Corporation and gave the stock a “buy” rating in a research report on Monday, March 27th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $24.00 target price on shares of Cabot Oil & Gas Corporation in a research report on Tuesday, April 18th. Raymond James Financial, Inc. reissued an “outperform” rating and set a $31.00 price objective (up previously from $27.00) on shares of Cabot Oil & Gas Corporation in a research report on Friday, April 21st. Finally, Williams Capital reissued a “buy” rating and set a $32.00 price objective on shares of Cabot Oil & Gas Corporation in a research report on Friday, April 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the stock. Cabot Oil & Gas Corporation has a consensus rating of “Buy” and a consensus target price of $29.47.

In other Cabot Oil & Gas Corporation news, insider Todd M. Roemer sold 3,737 shares of the business’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $24.12, for a total transaction of $90,136.44. Following the sale, the insider now directly owns 62,453 shares in the company, valued at $1,506,366.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Cabot Oil & Gas Corporation Company Profile

Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties. The Company operates in the segment of natural gas and oil development, exploitation, exploration and production, in the continental United States. Its assets are concentrated in areas with known hydrocarbon resources, which are conducive to multi-well, repeatable drilling programs.

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 Corporation (NYSE:COG).

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

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