Hartree Partners LP grew its stake in Cabot Oil & Gas Co. (NYSE:COG) by 400.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,000 shares of the oil and gas exploration company’s stock after acquiring an additional 60,000 shares during the period. Cabot Oil & Gas accounts for approximately 2.0% of Hartree Partners LP’s holdings, making the stock its 16th largest position. Hartree Partners LP’s holdings in Cabot Oil & Gas were worth $1,958,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. LPL Financial LLC raised its stake in Cabot Oil & Gas by 18.3% during the 3rd quarter. LPL Financial LLC now owns 20,257 shares of the oil and gas exploration company’s stock valued at $456,000 after acquiring an additional 3,140 shares in the last quarter. Morgan Stanley raised its stake in Cabot Oil & Gas by 3.8% during the 3rd quarter. Morgan Stanley now owns 1,297,995 shares of the oil and gas exploration company’s stock valued at $29,232,000 after acquiring an additional 47,688 shares in the last quarter. First Hawaiian Bank raised its stake in Cabot Oil & Gas by 67.7% during the 4th quarter. First Hawaiian Bank now owns 29,861 shares of the oil and gas exploration company’s stock valued at $668,000 after acquiring an additional 12,059 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in Cabot Oil & Gas during the 4th quarter valued at $266,000. Finally, Gateway Investment Advisers LLC raised its stake in Cabot Oil & Gas by 2.9% during the 4th quarter. Gateway Investment Advisers LLC now owns 20,042 shares of the oil and gas exploration company’s stock valued at $448,000 after acquiring an additional 567 shares in the last quarter. Institutional investors own 94.88% of the company’s stock.
In other news, insider Jeffrey W. Hutton sold 150,720 shares of Cabot Oil & Gas stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $26.11, for a total transaction of $3,935,299.20. Following the transaction, the insider now owns 629,270 shares in the company, valued at $16,430,239.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.90% of the company’s stock.
Cabot Oil & Gas (NYSE:COG) last issued its earnings results on Friday, April 26th. The oil and gas exploration company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.09. The business had revenue of $641.70 million for the quarter, compared to analysts’ expectations of $674.71 million. Cabot Oil & Gas had a return on equity of 31.52% and a net margin of 29.81%. The company’s quarterly revenue was up 35.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.28 EPS. As a group, analysts anticipate that Cabot Oil & Gas Co. will post 1.91 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Wednesday, May 15th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.37%. This is a boost from Cabot Oil & Gas’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, May 14th. Cabot Oil & Gas’s payout ratio is presently 24.78%.
Several analysts have weighed in on the company. Williams Capital reaffirmed a “hold” rating and set a $28.00 target price on shares of Cabot Oil & Gas in a research note on Sunday, April 21st. TD Securities boosted their price objective on Cabot Oil & Gas from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Cowen assumed coverage on Cabot Oil & Gas in a research note on Tuesday, April 9th. They issued an “outperform” rating and a $32.00 price objective on the stock. Zacks Investment Research raised Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Tuesday, April 2nd. Finally, Guggenheim set a $27.00 price objective on Cabot Oil & Gas and gave the stock a “hold” rating in a research note on Friday, February 22nd. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $28.64.
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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.
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