Tortoise Capital Advisors L.L.C. grew its position in Cabot Oil & Gas Co. (NYSE:COG) by 2.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 777,048 shares of the oil and gas exploration company’s stock after buying an additional 21,673 shares during the period. Tortoise Capital Advisors L.L.C. owned approximately 0.19% of Cabot Oil & Gas worth $17,841,000 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 acquired a new position in shares of Cabot Oil & Gas in the 1st quarter valued at $25,000. Carroll Financial Associates Inc. boosted its stake in Cabot Oil & Gas by 50.4% in the 2nd quarter. Carroll Financial Associates Inc. now owns 1,806 shares of the oil and gas exploration company’s stock worth $41,000 after purchasing an additional 605 shares during the period. First Interstate Bank boosted its stake in Cabot Oil & Gas by 278.6% in the 2nd quarter. First Interstate Bank now owns 1,893 shares of the oil and gas exploration company’s stock worth $43,000 after purchasing an additional 1,393 shares during the period. Zions Bancorporation N.A. acquired a new position in Cabot Oil & Gas in the 1st quarter worth $55,000. Finally, Rational Advisors LLC boosted its stake in Cabot Oil & Gas by 951.7% in the 2nd quarter. Rational Advisors LLC now owns 2,219 shares of the oil and gas exploration company’s stock worth $51,000 after purchasing an additional 2,008 shares during the period. 96.66% of the stock is owned by institutional investors.

Shares of Cabot Oil & Gas stock traded down $0.12 during trading hours on Friday, reaching $18.05. 6,048,115 shares of the company’s stock were exchanged, compared to its average volume of 7,572,586. The company has a 50 day moving average of $17.45 and a two-hundred day moving average of $23.03. Cabot Oil & Gas Co. has a fifty-two week low of $16.01 and a fifty-two week high of $27.65. The company has a current ratio of 2.70, a quick ratio of 2.61 and a debt-to-equity ratio of 0.52. The stock has a market cap of $7.67 billion, a P/E ratio of 15.97, a P/E/G ratio of 0.72 and a beta of 0.53.

Cabot Oil & Gas (NYSE:COG) last issued its earnings results on Friday, July 26th. The oil and gas exploration company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.05. The company had revenue of $534.12 million for 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%. Cabot Oil & Gas’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 EPS. As a group, analysts expect that Cabot Oil & Gas Co. will post 1.7 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a $0.09 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.99%. Cabot Oil & Gas’s payout ratio is 31.86%.

Cabot Oil & Gas announced that its Board of Directors has initiated a share buyback plan on Friday, July 26th that permits the company to repurchase 25,000,000 outstanding shares. This repurchase authorization permits the oil and gas exploration company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

A number of research firms have recently commented on COG. Wells Fargo & Co upgraded shares of Cabot Oil & Gas from a “market perform” rating to an “outperform” rating and set a $28.00 price objective for the company in a research note on Monday, July 8th. TheStreet downgraded shares of Cabot Oil & Gas from a “b” rating to a “c+” rating in a research note on Tuesday, July 9th. Morgan Stanley set a $23.00 price objective on shares of Cabot Oil & Gas and gave the stock a “hold” rating in a research note on Monday, June 24th. Williams Capital restated a “hold” rating and set a $22.00 price objective on shares of Cabot Oil & Gas in a research note on Thursday, August 22nd. Finally, Tudor Pickering upgraded shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Cabot Oil & Gas presently has a consensus rating of “Buy” and an average price target of $27.39.

In other news, Director Peter B. Delaney bought 9,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were bought at an average cost of $19.28 per share, with a total value of $173,520.00. Following the acquisition, the director now owns 16,925 shares in the company, valued at $326,314. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rhys J. Best bought 7,500 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was purchased at an average cost of $16.31 per share, for a total transaction of $122,325.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 53,255 shares of company stock worth $895,416. 1.90% of the stock is owned by insiders.

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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