Gateway Investment Advisers LLC Buys Shares of 19,937 Cabot Oil & Gas Co. (COG)

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Gateway Investment Advisers LLC bought a new stake in shares of Cabot Oil & Gas Co. (NYSE:COG) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 19,937 shares of the oil and gas exploration company’s stock, valued at approximately $475,000.

Several other institutional investors have also modified their holdings of COG. Millennium Management LLC raised its position in shares of Cabot Oil & Gas by 538.3% during the 1st quarter. Millennium Management LLC now owns 4,961,299 shares of the oil and gas exploration company’s stock valued at $118,972,000 after acquiring an additional 4,184,071 shares during the last quarter. Ceredex Value Advisors LLC bought a new stake in shares of Cabot Oil & Gas during the 1st quarter valued at $52,951,000. Rockefeller Capital Management L.P. bought a new stake in shares of Cabot Oil & Gas during the 1st quarter valued at $31,023,000. Copeland Capital Management LLC bought a new stake in shares of Cabot Oil & Gas during the 1st quarter valued at $12,267,000. Finally, OppenheimerFunds Inc. raised its position in shares of Cabot Oil & Gas by 1,861.5% during the 1st quarter. OppenheimerFunds Inc. now owns 362,979 shares of the oil and gas exploration company’s stock valued at $8,704,000 after acquiring an additional 344,474 shares during the last quarter. Institutional investors own 95.09% of the company’s stock.

In other news, Director Robert Kelley purchased 50,000 shares of the firm’s stock in a transaction dated Tuesday, May 29th. The stock was bought at an average price of $22.25 per share, with a total value of $1,112,500.00. Following the acquisition, the director now directly owns 681,717 shares of the company’s stock, valued at $15,168,203.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by insiders.

Several analysts have commented on the stock. Citigroup cut shares of Cabot Oil & Gas from a “buy” rating to a “neutral” rating and upped their target price for the company from $23.96 to $25.00 in a research report on Tuesday, April 17th. Morgan Stanley upped their target price on shares of Cabot Oil & Gas from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, April 30th. LADENBURG THALM/SH SH set a $34.00 target price on shares of Cabot Oil & Gas and gave the company a “buy” rating in a research report on Friday, April 27th. Williams Capital reiterated a “hold” rating and set a $28.00 target price on shares of Cabot Oil & Gas in a research report on Friday, April 27th. Finally, TD Securities assumed coverage on shares of Cabot Oil & Gas in a research report on Thursday, July 5th. They set a “buy” rating and a $29.00 target price for the company. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the stock. Cabot Oil & Gas has an average rating of “Hold” and an average price target of $30.10.

Shares of Cabot Oil & Gas opened at $24.24 on Friday, Marketbeat Ratings reports. Cabot Oil & Gas Co. has a 12-month low of $21.71 and a 12-month high of $29.57. The firm has a market capitalization of $11.03 billion, a PE ratio of 50.50, a PEG ratio of 0.81 and a beta of 0.39. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.42 and a quick ratio of 2.40.

Cabot Oil & Gas (NYSE:COG) last announced its quarterly earnings results on Friday, April 27th. The oil and gas exploration company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Cabot Oil & Gas had a net margin of 6.51% and a return on equity of 10.56%. The company had revenue of $473.20 million during the quarter, compared to analyst estimates of $471.25 million. During the same quarter in the previous year, the business earned $0.19 EPS. The firm’s revenue was down 8.6% on a year-over-year basis. equities analysts expect that Cabot Oil & Gas Co. will post 1.01 EPS for the current fiscal year.

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 172,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; and the Eagle Ford Shale with approximately 79,000 net acres in the oil window of the play located in Atascosa, Frio, and La Salle Counties, Texas.

Further Reading: Earnings Per Share

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)

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