Tiverton Asset Management LLC Has $379,000 Position in Cabot Oil & Gas Co. (NYSE:COG)
Tiverton Asset Management LLC boosted its position in shares of Cabot Oil & Gas Co. (NYSE:COG) by 7.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,481 shares of the oil and gas exploration company’s stock after purchasing an additional 1,130 shares during the period. Tiverton Asset Management LLC’s holdings in Cabot Oil & Gas were worth $379,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Cabot Oil & Gas by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 5,654,486 shares of the oil and gas exploration company’s stock worth $126,159,000 after buying an additional 237,315 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Cabot Oil & Gas by 19.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,501,665 shares of the oil and gas exploration company’s stock worth $33,572,000 after purchasing an additional 239,959 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Cabot Oil & Gas by 3.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 31,004 shares of the oil and gas exploration company’s stock worth $809,000 after purchasing an additional 947 shares during the last quarter. First Republic Investment Management Inc. boosted its holdings in Cabot Oil & Gas by 7.2% in the first quarter. First Republic Investment Management Inc. now owns 24,867 shares of the oil and gas exploration company’s stock worth $649,000 after purchasing an additional 1,664 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in Cabot Oil & Gas in the first quarter worth $412,000. Hedge funds and other institutional investors own 96.66% of the company’s stock.
Several equities analysts have weighed in on the company. Williams Capital restated a “hold” rating and set a $22.00 target price on shares of Cabot Oil & Gas in a report on Thursday, August 22nd. Tudor Pickering raised Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Friday, August 2nd. Morgan Stanley set a $23.00 target price on Cabot Oil & Gas and gave the stock a “hold” rating in a report on Monday, June 24th. Wells Fargo & Co raised Cabot Oil & Gas from a “market perform” rating to an “outperform” rating and set a $28.00 target price for the company in a research report on Monday, July 8th. Finally, Zacks Investment Research cut Cabot Oil & Gas from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $27.39.
Cabot Oil & Gas (NYSE:COG) last issued its quarterly earnings results on Friday, July 26th. The oil and gas exploration company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.05. The firm had revenue of $534.12 million for the quarter, compared to analyst estimates of $476.10 million. Cabot Oil & Gas had a return on equity of 34.79% and a net margin of 34.51%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 earnings per share. As a group, sell-side analysts predict that Cabot Oil & Gas Co. will post 1.7 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Wednesday, August 7th. Cabot Oil & Gas’s dividend payout ratio is presently 31.86%.
Cabot Oil & Gas declared that its Board of Directors has approved a share repurchase program on Friday, July 26th that allows the company to buyback 25,000,000 shares. This buyback authorization allows the oil and gas exploration company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other Cabot Oil & Gas news, Director Rhys J. Best purchased 7,500 shares of the stock in a transaction on Friday, August 16th. The shares were purchased at an average price of $16.31 per share, with a total value of $122,325.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Peter B. Delaney acquired 9,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was acquired at an average price of $19.28 per share, with a total value of $173,520.00. Following the purchase, the director now owns 16,925 shares in the company, valued at approximately $326,314. The disclosure for this purchase can be found here. Insiders have acquired 53,255 shares of company stock worth $895,416 in the last quarter. Corporate 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.
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