Cabot Oil & Gas Co. (COG) to Issue Quarterly Dividend of $0.06

Cabot Oil & Gas Co. (NYSE:COG) declared a quarterly dividend on Wednesday, January 3rd, RTT News reports. Investors of record on Wednesday, January 24th will be given a dividend of 0.06 per share by the oil and gas exploration company on Wednesday, February 7th. This represents a $0.24 annualized dividend and a yield of 0.83%. This is an increase from Cabot Oil & Gas’s previous quarterly dividend of $0.05.

Cabot Oil & Gas has increased its dividend payment by an average of 10.1% annually over the last three years. Cabot Oil & Gas has a payout ratio of 41.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cabot Oil & Gas to earn $0.89 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 22.5%.

Shares of Cabot Oil & Gas (NYSE:COG) traded up $0.13 during mid-day trading on Wednesday, reaching $29.03. 5,350,000 shares of the company’s stock traded hands, compared to its average volume of 4,260,000. The company has a quick ratio of 1.61, a current ratio of 1.64 and a debt-to-equity ratio of 0.49. The firm has a market cap of $13,430.00, a P/E ratio of -90.72, a P/E/G ratio of 1.07 and a beta of 0.53. Cabot Oil & Gas has a 52-week low of $20.55 and a 52-week high of $29.57.

Cabot Oil & Gas (NYSE:COG) last announced its earnings results on Friday, October 27th. The oil and gas exploration company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). The company had revenue of $385.40 million for the quarter, compared to analyst estimates of $400.85 million. Cabot Oil & Gas had a positive return on equity of 6.63% and a negative net margin of 8.80%. The business’s quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.04) earnings per share. sell-side analysts forecast that Cabot Oil & Gas will post 0.48 earnings per share for the current year.

COG has been the topic of several research analyst reports. Scotiabank set a $32.00 target price on shares of Cabot Oil & Gas and gave the stock a “buy” rating in a report on Saturday, October 21st. Morgan Stanley reiterated a “sell” rating on shares of Cabot Oil & Gas in a report on Thursday, December 14th. Cowen reiterated a “buy” rating and issued a $30.00 price objective on shares of Cabot Oil & Gas in a report on Tuesday, September 12th. Barclays lifted their price objective on shares of Cabot Oil & Gas from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, October 11th. Finally, Williams Capital set a $30.00 price objective on shares of Cabot Oil & Gas and gave the company a “hold” rating in a report on Thursday, December 21st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $30.95.

In other Cabot Oil & Gas news, Chairman Dan O. Dinges sold 66,610 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $27.92, for a total transaction of $1,859,751.20. Following the completion of the transaction, the chairman now owns 2,887,018 shares of the company’s stock, valued at $80,605,542.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Kelley bought 2,000 shares of the stock in a transaction on Tuesday, October 31st. The shares were acquired at an average cost of $27.47 per share, with a total value of $54,940.00. Following the purchase, the director now owns 619,500 shares of the company’s stock, valued at approximately $17,017,665. The disclosure for this purchase can be found here. Insiders own 1.60% of the company’s stock.

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Cabot Oil & Gas Company Profile

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.

Dividend History for Cabot Oil & Gas (NYSE:COG)

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