Cabot Oil & Gas Corp. (COG) Sees Strong Trading Volume
Cabot Oil & Gas Corp. (NYSE:COG) saw unusually-strong trading volume on Tuesday . Approximately 4,244,552 shares were traded during mid-day trading, a decline of 11% from the previous session’s volume of 4,785,289 shares.The stock last traded at $25.05 and had previously closed at $25.16.
A number of equities analysts have issued reports on COG shares. Williams Capital started coverage on Cabot Oil & Gas Corp. in a research report on Monday. They set a “buy” rating and a $30.00 price target on the stock. Zacks Investment Research upgraded Cabot Oil & Gas Corp. from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Monday, August 8th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Cabot Oil & Gas Corp. in a research report on Monday, May 16th. Scotiabank upgraded Cabot Oil & Gas Corp. from a “sector perform” rating to a “sector outperform” rating and set a $30.00 price target on the stock in a research report on Saturday, August 13th. Finally, Capital One Financial Corp. upgraded Cabot Oil & Gas Corp. from an “equal weight” rating to an “overweight” rating in a research report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Cabot Oil & Gas Corp. presently has a consensus rating of “Hold” and an average target price of $26.82.
The company has a 50-day moving average of $24.83 and a 200-day moving average of $23.68. The stock’s market capitalization is $11.55 billion.
Cabot Oil & Gas Corp. (NYSE:COG) last announced its quarterly earnings results on Friday, July 29th. The oil and gas exploration company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. During the same period last year, the firm earned $0.03 EPS. The firm had revenue of $246.80 million for the quarter, compared to analysts’ expectations of $270.13 million. Cabot Oil & Gas Corp.’s revenue was down 19.4% compared to the same quarter last year. Equities research analysts predict that Cabot Oil & Gas Corp. will post ($0.15) EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Monday, August 8th.
In other news, General Counsel George Kevin Cunningham sold 6,178 shares of the business’s stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $25.32, for a total transaction of $156,426.96. Following the sale, the general counsel now owns 38,990 shares of the company’s stock, valued at approximately $987,226.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
A hedge fund recently raised its stake in Cabot Oil & Gas Corp. stock. BNP Paribas Arbitrage SA increased its position in shares of Cabot Oil & Gas Corp. (NYSE:COG) by 112.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 293,464 shares of the oil and gas exploration company’s stock after buying an additional 155,158 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.07% of Cabot Oil & Gas Corp. worth $5,191,000 at the end of the most recent quarter.
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.
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