Cabot Oil & Gas Co. (COG) Stake Raised by Amundi Pioneer Asset Management Inc.
Amundi Pioneer Asset Management Inc. increased its stake in Cabot Oil & Gas Co. (NYSE:COG) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,042,209 shares of the oil and gas exploration company’s stock after buying an additional 322,380 shares during the quarter. Amundi Pioneer Asset Management Inc.’s holdings in Cabot Oil & Gas were worth $287,206,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COG. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Cabot Oil & Gas by 78.2% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 16,172 shares of the oil and gas exploration company’s stock valued at $406,000 after buying an additional 7,099 shares during the last quarter. APG Asset Management N.V. bought a new stake in Cabot Oil & Gas in the 3rd quarter valued at $1,629,000. First Trust Advisors LP raised its stake in Cabot Oil & Gas by 60.6% in the 3rd quarter. First Trust Advisors LP now owns 528,037 shares of the oil and gas exploration company’s stock valued at $14,125,000 after acquiring an additional 199,309 shares during the period. Aperio Group LLC raised its stake in Cabot Oil & Gas by 12.3% in the 3rd quarter. Aperio Group LLC now owns 192,523 shares of the oil and gas exploration company’s stock valued at $5,150,000 after acquiring an additional 21,140 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new stake in Cabot Oil & Gas in the 3rd quarter valued at $860,000. 99.16% of the stock is owned by institutional investors.
Cabot Oil & Gas Co. (COG) opened at $25.26 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.61 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $11,680.00, a price-to-earnings ratio of -81.48, a price-to-earnings-growth ratio of 0.76 and a beta of 0.45. Cabot Oil & Gas Co. has a 12-month low of $21.40 and a 12-month high of $29.57.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th were given a dividend of $0.06 per share. This is a boost from Cabot Oil & Gas’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, January 23rd. This represents a $0.24 annualized dividend and a yield of 0.95%. Cabot Oil & Gas’s dividend payout ratio (DPR) is presently -77.42%.
Cabot Oil & Gas declared that its board has authorized a stock repurchase program on Friday, February 23rd that permits the company to buyback 30,000,000 outstanding shares. This buyback authorization permits the oil and gas exploration company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of equities research analysts recently weighed in on the company. Williams Capital set a $30.00 price target on Cabot Oil & Gas and gave the company a “hold” rating in a research note on Friday, February 23rd. Zacks Investment Research cut Cabot Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 27th. Susquehanna Bancshares restated a “neutral” rating and issued a $32.00 price target on shares of Cabot Oil & Gas in a research note on Wednesday, January 17th. Raymond James Financial cut Cabot Oil & Gas from an “outperform” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, Drexel Hamilton cut Cabot Oil & Gas from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. Cabot Oil & Gas has a consensus rating of “Hold” and an average price target of $31.42.
Cabot Oil & Gas 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.
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