Profund Advisors LLC Acquires 669 Shares of Cabot Oil & Gas Co. (NYSE:COG)

Profund Advisors LLC grew its holdings in Cabot Oil & Gas Co. (NYSE:COG) by 4.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,109 shares of the oil and gas exploration company’s stock after acquiring an additional 669 shares during the quarter. Profund Advisors LLC’s holdings in Cabot Oil & Gas were worth $393,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Meridian Wealth Management LLC acquired a new position in shares of Cabot Oil & Gas during the first quarter worth about $25,000. Carroll Financial Associates Inc. boosted its position in shares of Cabot Oil & Gas by 50.4% during the second quarter. Carroll Financial Associates Inc. now owns 1,806 shares of the oil and gas exploration company’s stock worth $41,000 after buying an additional 605 shares during the period. First Interstate Bank boosted its position in shares of Cabot Oil & Gas by 278.6% during the second quarter. First Interstate Bank now owns 1,893 shares of the oil and gas exploration company’s stock worth $43,000 after buying an additional 1,393 shares during the period. Rational Advisors LLC boosted its position in shares of Cabot Oil & Gas by 951.7% during the second quarter. Rational Advisors LLC now owns 2,219 shares of the oil and gas exploration company’s stock worth $51,000 after buying an additional 2,008 shares during the period. Finally, Zions Bancorporation N.A. acquired a new position in shares of Cabot Oil & Gas during the first quarter worth about $55,000. Institutional investors own 96.66% of the company’s stock.

In related news, CEO Dan O. Dinges purchased 16,755 shares of Cabot Oil & Gas stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average cost of $16.28 per share, with a total value of $272,771.40. Following the completion of the transaction, the chief executive officer now owns 3,104,405 shares of the company’s stock, valued at approximately $50,539,713.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter B. Delaney purchased 9,000 shares of Cabot Oil & Gas stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 16,925 shares of the company’s stock, valued at approximately $326,314. The disclosure for this purchase can be found here. Insiders have purchased 53,255 shares of company stock valued at $895,416 over the last three months. Insiders own 1.90% of the company’s stock.

Several research analysts have recently weighed in on COG shares. ValuEngine cut Cabot Oil & Gas from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 27th. Morgan Stanley set a $23.00 price objective on Cabot Oil & Gas and gave the stock a “hold” rating in a research report on Monday, June 24th. Wells Fargo & Co raised 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 report on Monday, July 8th. TheStreet cut Cabot Oil & Gas from a “b” rating to a “c+” rating in a research report on Tuesday, July 9th. Finally, TD Securities reduced their price objective on Cabot Oil & Gas from $29.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. Cabot Oil & Gas has an average rating of “Buy” and an average price target of $27.39.

NYSE COG traded down $0.12 during trading hours on Friday, hitting $18.05. 6,048,115 shares of the company traded hands, compared to its average volume of 7,572,586. The business’s 50-day moving average is $17.45 and its 200-day moving average is $23.03. Cabot Oil & Gas Co. has a twelve month low of $16.01 and a twelve month high of $27.65. 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 stock has a market capitalization of $7.67 billion, a price-to-earnings 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 quarterly earnings results on Friday, July 26th. The oil and gas exploration company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.31 by $0.05. Cabot Oil & Gas had a return on equity of 34.79% and a net margin of 34.51%. The firm had revenue of $534.12 million during the quarter, compared to analysts’ expectations of $476.10 million. During the same period in the prior year, the firm posted $0.13 earnings per share. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. Analysts predict that Cabot Oil & Gas Co. will post 1.7 EPS for the current year.

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

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.36 annualized dividend and a yield of 1.99%. Cabot Oil & Gas’s dividend payout ratio (DPR) is presently 31.86%.

About Cabot Oil & Gas

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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