A number of other brokerages have also recently commented on COG. JPMorgan Chase & Co. set a $37.00 price objective on Cabot Oil & Gas and gave the stock a buy rating in a research note on Monday, November 27th. Barclays boosted their price objective on Cabot Oil & Gas from $31.00 to $32.00 and gave the stock an overweight rating in a research note on Monday, November 20th. Scotiabank restated a buy rating on shares of Cabot Oil & Gas in a research note on Wednesday, November 22nd. Zacks Investment Research cut Cabot Oil & Gas from a strong-buy rating to a hold rating in a research note on Thursday, January 4th. Finally, Drexel Hamilton cut Cabot Oil & Gas from a buy rating to a hold rating in a research note on Tuesday, November 7th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. Cabot Oil & Gas has an average rating of Hold and an average target price of $31.47.
Shares of Cabot Oil & Gas (NYSE COG) traded up $0.50 on Friday, hitting $28.01. The company’s stock had a trading volume of 2,444,616 shares, compared to its average volume of 5,019,554. The firm has a market capitalization of $12,920.00, a PE ratio of -87.53, a PEG ratio of 0.89 and a beta of 0.53. Cabot Oil & Gas has a 12 month low of $20.55 and a 12 month high of $29.57. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.61 and a current ratio of 1.64.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.86%. This is a positive change from Cabot Oil & Gas’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, January 23rd. Cabot Oil & Gas’s payout ratio is presently -62.50%.
In other news, Director Robert Kelley acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was purchased at an average cost of $27.47 per share, with a total value of $54,940.00. Following the completion of the acquisition, the director now directly owns 619,500 shares in the company, valued at $17,017,665. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Dan O. Dinges sold 66,610 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $27.92, for a total value of $1,859,751.20. Following the completion of the sale, the chairman now directly owns 2,887,018 shares of the company’s stock, valued at $80,605,542.56. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. Westwood Holdings Group Inc. bought a new position in shares of Cabot Oil & Gas during the second quarter valued at approximately $100,000. Advisors Asset Management Inc. bought a new position in shares of Cabot Oil & Gas during the third quarter valued at approximately $130,000. Pinebridge Investments L.P. bought a new position in shares of Cabot Oil & Gas during the second quarter valued at approximately $163,000. Reliance Trust Co. of Delaware bought a new position in shares of Cabot Oil & Gas during the third quarter valued at approximately $210,000. Finally, Artisan Partners Limited Partnership bought a new position in shares of Cabot Oil & Gas during the third quarter valued at approximately $223,000. 95.73% of the stock is owned by hedge funds and other institutional investors.
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Cabot Oil & Gas 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.
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