Strs Ohio boosted its stake in shares of Cabot Oil & Gas Co. (NYSE:COG) by 15.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,711 shares of the oil and gas exploration company’s stock after purchasing an additional 5,699 shares during the quarter. Strs Ohio’s holdings in Cabot Oil & Gas were worth $957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Meridian Wealth Management LLC acquired a new stake in Cabot Oil & Gas in the first quarter worth about $25,000. Paragon Capital Management LLC acquired a new stake in Cabot Oil & Gas in the first quarter worth about $26,000. Carroll Financial Associates Inc. boosted its holdings in Cabot Oil & Gas by 192.9% in the first quarter. Carroll Financial Associates Inc. now owns 1,201 shares of the oil and gas exploration company’s stock worth $31,000 after acquiring an additional 791 shares in the last quarter. Pearl River Capital LLC acquired a new stake in Cabot Oil & Gas in the first quarter worth about $32,000. Finally, Joseph P. Lucia & Associates LLC acquired a new stake in Cabot Oil & Gas in the first quarter worth about $40,000. 97.45% of the stock is currently owned by institutional investors.
Cabot Oil & Gas stock opened at $16.99 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.70 and a quick ratio of 2.61. Cabot Oil & Gas Co. has a 52 week low of $16.82 and a 52 week high of $27.65. The firm has a market capitalization of $7.18 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 0.67 and a beta of 0.51. The business’s 50-day moving average price is $21.23.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Wednesday, August 7th. Cabot Oil & Gas’s dividend payout ratio (DPR) is 31.86%.
Cabot Oil & Gas declared that its Board of Directors has authorized a stock repurchase plan on Friday, July 26th that authorizes the company to buyback 25,000,000 shares. This buyback authorization authorizes the oil and gas exploration company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.
COG has been the subject of several recent analyst reports. TheStreet downgraded Cabot Oil & Gas from a “b” rating to a “c+” rating in a report on Tuesday, July 9th. Williams Capital reissued a “hold” rating and issued a $27.00 price target on shares of Cabot Oil & Gas in a report on Monday, July 22nd. ValuEngine downgraded Cabot Oil & Gas from a “sell” rating to a “strong sell” rating in a report on Saturday, July 27th. Tudor Pickering raised 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. Finally, Wells Fargo & Co raised 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $27.83.
In other news, Director Peter B. Delaney bought 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was purchased at an average price of $19.28 per share, with a total value of $173,520.00. Following the completion of the acquisition, the director now directly owns 16,925 shares of the company’s stock, valued at approximately $326,314. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.90% of the company’s stock.
Cabot Oil & Gas Company 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.
Recommended Story: Death Cross
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).
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.