Crossmark Global Holdings Inc. Cuts Position in Cabot Oil & Gas Co. (COG)

Crossmark Global Holdings Inc. decreased its holdings in Cabot Oil & Gas Co. (NYSE:COG) by 2.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 23,045 shares of the oil and gas exploration company’s stock after selling 550 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Cabot Oil & Gas were worth $601,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morgan Stanley boosted its position in Cabot Oil & Gas by 3.8% during the 3rd quarter. Morgan Stanley now owns 1,297,995 shares of the oil and gas exploration company’s stock valued at $29,232,000 after acquiring an additional 47,688 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in Cabot Oil & Gas by 2.9% during the 4th quarter. Gateway Investment Advisers LLC now owns 20,042 shares of the oil and gas exploration company’s stock valued at $448,000 after acquiring an additional 567 shares in the last quarter. DNB Asset Management AS boosted its position in Cabot Oil & Gas by 1.0% during the 4th quarter. DNB Asset Management AS now owns 62,428 shares of the oil and gas exploration company’s stock valued at $1,395,000 after acquiring an additional 600 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Cabot Oil & Gas during the 4th quarter valued at approximately $291,000. Finally, Virtu Financial LLC boosted its position in Cabot Oil & Gas by 197.6% during the 4th quarter. Virtu Financial LLC now owns 45,294 shares of the oil and gas exploration company’s stock valued at $1,012,000 after acquiring an additional 30,076 shares in the last quarter. Hedge funds and other institutional investors own 94.88% of the company’s stock.

In related news, insider Jeffrey W. Hutton sold 150,720 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $26.11, for a total value of $3,935,299.20. Following the completion of the transaction, the insider now directly owns 629,270 shares in the company, valued at approximately $16,430,239.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.90% of the stock is owned by insiders.

Several research firms have recently issued reports on COG. Williams Capital reiterated a “hold” rating and set a $28.00 target price on shares of Cabot Oil & Gas in a report on Sunday, April 21st. Cowen began coverage on shares of Cabot Oil & Gas in a report on Tuesday, April 9th. They set an “outperform” rating and a $32.00 target price for the company. Zacks Investment Research upgraded shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Tuesday, April 2nd. Guggenheim set a $27.00 target price on shares of Cabot Oil & Gas and gave the company a “hold” rating in a report on Friday, February 22nd. Finally, ValuEngine upgraded shares of Cabot Oil & Gas from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $28.64.

COG stock opened at $26.27 on Friday. Cabot Oil & Gas Co. has a 52-week low of $20.94 and a 52-week high of $27.65. The company has a market cap of $11.16 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 0.40 and a beta of 0.62. The company has a quick ratio of 2.75, a current ratio of 2.83 and a debt-to-equity ratio of 0.53.

Cabot Oil & Gas (NYSE:COG) last announced its quarterly earnings data on Friday, April 26th. The oil and gas exploration company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.09. Cabot Oil & Gas had a net margin of 29.81% and a return on equity of 31.52%. The company had revenue of $641.70 million during the quarter, compared to analyst estimates of $674.71 million. During the same period in the previous year, the business earned $0.28 EPS. The firm’s revenue for the quarter was up 35.6% on a year-over-year basis. Sell-side analysts predict that Cabot Oil & Gas Co. will post 1.91 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Wednesday, May 15th will be issued a $0.09 dividend. This is a positive change from Cabot Oil & Gas’s previous quarterly dividend of $0.07. This represents a $0.36 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Tuesday, May 14th. Cabot Oil & Gas’s payout ratio is presently 31.86%.

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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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