Public Employees Retirement System of Ohio reduced its position in shares of Cabot Oil & Gas Co. (NYSE:COG) by 10.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 143,240 shares of the oil and gas exploration company’s stock after selling 16,170 shares during the period. Public Employees Retirement System of Ohio’s holdings in Cabot Oil & Gas were worth $3,289,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Meridian Wealth Management LLC bought a new position in Cabot Oil & Gas during the 1st quarter valued at about $25,000. Carroll Financial Associates Inc. lifted its holdings in Cabot Oil & Gas by 50.4% during the 2nd quarter. Carroll Financial Associates Inc. now owns 1,806 shares of the oil and gas exploration company’s stock valued at $41,000 after purchasing an additional 605 shares during the last quarter. First Interstate Bank lifted its holdings in Cabot Oil & Gas by 278.6% during the 2nd quarter. First Interstate Bank now owns 1,893 shares of the oil and gas exploration company’s stock valued at $43,000 after purchasing an additional 1,393 shares during the last quarter. Zions Bancorporation N.A. bought a new position in Cabot Oil & Gas during the 1st quarter valued at about $55,000. Finally, Rational Advisors LLC lifted its holdings in Cabot Oil & Gas by 951.7% during the 2nd quarter. Rational Advisors LLC now owns 2,219 shares of the oil and gas exploration company’s stock valued at $51,000 after purchasing an additional 2,008 shares during the last quarter. 96.66% of the stock is owned by hedge funds and other institutional investors.

In other Cabot Oil & Gas news, CEO Dan O. Dinges purchased 16,755 shares of the stock in a transaction dated Friday, August 16th. The stock was bought at an average price of $16.28 per share, for a total transaction of $272,771.40. Following the transaction, the chief executive officer now directly owns 3,104,405 shares in the company, valued at $50,539,713.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Dan O. Dinges purchased 20,000 shares of the stock in a transaction dated Monday, August 19th. The shares were acquired at an average price of $16.34 per share, with a total value of $326,800.00. Following the transaction, the chairman now owns 3,104,405 shares in the company, valued at $50,725,977.70. The disclosure for this purchase can be found here. Insiders acquired a total of 53,255 shares of company stock valued at $895,416 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.

COG traded up $0.16 during midday trading on Friday, hitting $18.81. The company had a trading volume of 6,135,141 shares, compared to its average volume of 7,096,058. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.61 and a current ratio of 2.70. The company has a market capitalization of $7.80 billion, a PE ratio of 16.65, a P/E/G ratio of 0.73 and a beta of 0.53. Cabot Oil & Gas Co. has a twelve month low of $16.01 and a twelve month high of $27.65. The firm’s 50-day simple moving average is $17.62 and its 200-day simple moving average is $23.25.

Cabot Oil & Gas (NYSE:COG) last posted its quarterly earnings data on Friday, July 26th. The oil and gas exploration company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.05. The firm had revenue of $534.12 million during the quarter, compared to analysts’ expectations of $476.10 million. Cabot Oil & Gas had a net margin of 34.51% and a return on equity of 34.79%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 EPS. As a group, sell-side analysts anticipate that Cabot Oil & Gas Co. will post 1.7 EPS for the current fiscal year.

Cabot Oil & Gas announced that its Board of Directors has approved a stock 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 generally an indication that the company’s board of directors believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Wednesday, August 7th. Cabot Oil & Gas’s payout ratio is presently 31.86%.

Several brokerages recently issued reports on COG. Williams Capital reissued a “hold” rating and set a $22.00 price target on shares of Cabot Oil & Gas in a report on Thursday, August 22nd. TD Securities cut their price target on shares of Cabot Oil & Gas from $29.00 to $27.00 and set a “buy” rating for the company in a report on Monday, July 29th. MKM Partners raised shares of Cabot Oil & Gas from a “neutral” rating to a “buy” rating in a report on Monday, July 29th. Wells Fargo & Co raised shares of 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. Finally, Citigroup cut their price target on shares of Cabot Oil & Gas from $28.00 to $26.00 and set a “buy” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. Cabot Oil & Gas presently has an average rating of “Buy” and an average price target of $27.39.

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

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