Cabot Oil & Gas Co. (COG) Stake Increased by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Cabot Oil & Gas Co. (NYSE:COG) by 3.8% in the 4th quarter, HoldingsChannel reports. The fund owned 84,784 shares of the oil and gas exploration company’s stock after acquiring an additional 3,122 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Cabot Oil & Gas were worth $2,461,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Westwood Holdings Group Inc. acquired a new position in Cabot Oil & Gas in the second quarter worth about $100,000. Advisors Asset Management Inc. acquired a new position in Cabot Oil & Gas in the third quarter worth about $130,000. MHI Funds LLC acquired a new position in Cabot Oil & Gas in the fourth quarter worth about $147,000. Reliance Trust Co. of Delaware acquired a new position in Cabot Oil & Gas in the third quarter worth about $210,000. Finally, Morse Asset Management Inc acquired a new position in Cabot Oil & Gas in the fourth quarter worth about $238,000. Institutional investors own 96.19% of the company’s stock.
A number of research firms recently commented on COG. Susquehanna Bancshares reiterated a “neutral” rating and issued a $32.00 price target on shares of Cabot Oil & Gas in a research note on Wednesday, January 17th. Williams Capital set a $30.00 price target on Cabot Oil & Gas and gave the stock a “hold” rating in a research note on Monday, October 30th. Zacks Investment Research upgraded Cabot Oil & Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. Raymond James Financial downgraded Cabot Oil & Gas from an “outperform” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, Barclays lifted their price target on Cabot Oil & Gas from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $31.53.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Tuesday, January 23rd. This is a boost from Cabot Oil & Gas’s previous quarterly dividend of $0.05. Cabot Oil & Gas’s payout ratio is -77.42%.
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About Cabot Oil & Gas
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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