Centre Asset Management LLC lowered its position in Cabot Oil & Gas Co. (NYSE:COG) by 29.7% during the second quarter, HoldingsChannel reports. The firm owned 260,250 shares of the oil and gas exploration company’s stock after selling 109,730 shares during the period. Centre Asset Management LLC’s holdings in Cabot Oil & Gas were worth $6,194,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in COG. Motco lifted its holdings in Cabot Oil & Gas by 3,034.3% in the 1st quarter. Motco now owns 4,200 shares of the oil and gas exploration company’s stock valued at $101,000 after purchasing an additional 4,066 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in Cabot Oil & Gas in the 2nd quarter valued at $123,000. Massey Quick Simon & CO. LLC lifted its holdings in Cabot Oil & Gas by 134.2% in the 1st quarter. Massey Quick Simon & CO. LLC now owns 6,850 shares of the oil and gas exploration company’s stock valued at $164,000 after purchasing an additional 3,925 shares in the last quarter. Welch & Forbes LLC purchased a new position in Cabot Oil & Gas in the 2nd quarter valued at $214,000. Finally, Rampart Investment Management Company LLC lifted its holdings in Cabot Oil & Gas by 76.8% in the 1st quarter. Rampart Investment Management Company LLC now owns 10,030 shares of the oil and gas exploration company’s stock valued at $241,000 after purchasing an additional 4,358 shares in the last quarter. Institutional investors own 97.54% of the company’s stock.

Shares of COG opened at $23.54 on Friday. Cabot Oil & Gas Co. has a 52-week low of $21.71 and a 52-week high of $29.57. The firm has a market capitalization of $10.49 billion, a price-to-earnings ratio of 41.00, a P/E/G ratio of 0.79 and a beta of 0.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.67 and a quick ratio of 1.64.

Cabot Oil & Gas (NYSE:COG) last issued its earnings results on Friday, July 27th. The oil and gas exploration company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). Cabot Oil & Gas had a return on equity of 10.84% and a net margin of 7.75%. The company had revenue of $453.50 million during the quarter, compared to analyst estimates of $384.57 million. During the same period last year, the business earned $0.14 earnings per share. The firm’s revenue was down 1.5% compared to the same quarter last year. sell-side analysts forecast that Cabot Oil & Gas Co. will post 1 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 23rd. Shareholders of record on Thursday, August 9th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Wednesday, August 8th. Cabot Oil & Gas’s dividend payout ratio (DPR) is presently 50.00%.

A number of brokerages have weighed in on COG. TD Securities restated a “buy” rating and issued a $30.00 price objective (up previously from $29.00) on shares of Cabot Oil & Gas in a report on Friday, July 27th. Williams Capital restated a “hold” rating and issued a $28.00 price objective on shares of Cabot Oil & Gas in a report on Friday, April 27th. LADENBURG THALM/SH SH set a $34.00 price objective on Cabot Oil & Gas and gave the company a “buy” rating in a report on Friday, April 27th. UBS Group upgraded Cabot Oil & Gas from a “neutral” rating to a “positive” rating in a report on Monday, July 30th. Finally, Zacks Investment Research upgraded Cabot Oil & Gas from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $29.95.

In other Cabot Oil & Gas news, Director Robert Kelley acquired 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 29th. The stock was purchased at an average cost of $22.25 per share, with a total value of $1,112,500.00. Following the transaction, the director now owns 681,717 shares of the company’s stock, valued at $15,168,203.25. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is owned by company insiders.

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 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: Outstanding Shares and The Effect on Share Price

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

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