Aberdeen Asset Management PLC UK Sells 59,459 Shares of Cabot Oil & Gas Corporation (COG)

Aberdeen Asset Management PLC UK cut its position in shares of Cabot Oil & Gas Corporation (NYSE:COG) by 27.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 160,523 shares of the oil and gas exploration company’s stock after selling 59,459 shares during the quarter. Aberdeen Asset Management PLC UK’s holdings in Cabot Oil & Gas Corporation were worth $4,026,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Twin Tree Management LP grew its position in Cabot Oil & Gas Corporation by 242.5% during the second quarter. Twin Tree Management LP now owns 104,883 shares of the oil and gas exploration company’s stock worth $2,630,000 after buying an additional 74,258 shares in the last quarter. CIBC World Markets Inc. acquired a new stake in Cabot Oil & Gas Corporation during the second quarter worth about $1,225,000. Private Advisor Group LLC acquired a new stake in Cabot Oil & Gas Corporation during the second quarter worth about $201,000. Engineers Gate Manager LP acquired a new stake in Cabot Oil & Gas Corporation during the second quarter worth about $745,000. Finally, Schroder Investment Management Group grew its position in Cabot Oil & Gas Corporation by 22.0% during the second quarter. Schroder Investment Management Group now owns 2,549,696 shares of the oil and gas exploration company’s stock worth $63,283,000 after buying an additional 459,266 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

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In related news, insider Jeffrey W. Hutton sold 11,918 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $26.79, for a total transaction of $319,283.22. Following the sale, the insider now owns 635,124 shares in the company, valued at approximately $17,014,971.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Cabot Oil & Gas Corporation (COG) opened at 26.81 on Friday. Cabot Oil & Gas Corporation has a 1-year low of $20.02 and a 1-year high of $27.14. The company’s market cap is $12.40 billion. The stock has a 50 day moving average of $25.28 and a 200-day moving average of $24.07.

Cabot Oil & Gas Corporation (NYSE:COG) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01). The firm had revenue of $460.50 million for the quarter, compared to analyst estimates of $454.76 million. Cabot Oil & Gas Corporation had a positive return on equity of 4.68% and a negative net margin of 10.95%. The business’s revenue was up 86.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.07) EPS. On average, equities research analysts predict that Cabot Oil & Gas Corporation will post $0.60 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.75%. Cabot Oil & Gas Corporation’s dividend payout ratio is -54.05%.

A number of equities research analysts recently weighed in on COG shares. Macquarie raised Cabot Oil & Gas Corporation from a “neutral” rating to an “outperform” rating and set a $26.00 target price on the stock in a research report on Tuesday, June 6th. TheStreet downgraded Cabot Oil & Gas Corporation from a “c” rating to a “d+” rating in a research report on Thursday, August 24th. BidaskClub downgraded Cabot Oil & Gas Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. BMO Capital Markets reissued a “buy” rating and set a $30.00 target price on shares of Cabot Oil & Gas Corporation in a research report on Friday, September 1st. Finally, Cowen and Company reissued a “buy” rating and set a $30.00 target price on shares of Cabot Oil & Gas Corporation in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $29.83.

About Cabot Oil & Gas Corporation

Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties. The Company operates in the segment of natural gas and oil development, exploitation, exploration and production, in the continental United States. Its assets are concentrated in areas with known hydrocarbon resources, which are conducive to multi-well, repeatable drilling programs.

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

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