Cabot Oil & Gas Corporation (NYSE:COG) Rating Increased to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Cabot Oil & Gas Corporation (NYSE:COG) from an equal weight rating to an overweight rating in a research note issued to investors on Tuesday, August 1st, MarketBeat reports. The brokerage currently has $31.00 price target on the oil and gas exploration company’s stock, up from their prior price target of $24.00.

Several other equities research analysts have also commented on COG. Scotiabank set a $28.00 price objective on Cabot Oil & Gas Corporation and gave the stock a buy rating in a research report on Saturday, July 1st. BMO Capital Markets set a $30.00 target price on Cabot Oil & Gas Corporation and gave the company a buy rating in a research report on Sunday, July 30th. Raymond James Financial, Inc. reiterated an outperform rating and set a $31.00 target price (up previously from $27.00) on shares of Cabot Oil & Gas Corporation in a research report on Friday, April 21st. TheStreet upgraded Cabot Oil & Gas Corporation from a d+ rating to a c rating in a research report on Friday, April 28th. Finally, BidaskClub raised Cabot Oil & Gas Corporation from a sell rating to a hold rating in a research note on Friday, June 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $29.50.

Cabot Oil & Gas Corporation (NYSE:COG) opened at 24.39 on Tuesday. The company’s market capitalization is $11.28 billion. The firm has a 50-day moving average of $24.85 and a 200 day moving average of $23.68. Cabot Oil & Gas Corporation has a 12-month low of $20.02 and a 12-month high of $26.74.

Cabot Oil & Gas Corporation (NYSE:COG) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. Cabot Oil & Gas Corporation had a positive return on equity of 4.68% and a negative net margin of 10.95%. The business had revenue of $460.50 million during the quarter, compared to analyst estimates of $454.76 million. During the same quarter last year, the company posted ($0.07) EPS. Cabot Oil & Gas Corporation’s quarterly revenue was up 86.6% compared to the same quarter last year. Analysts forecast that Cabot Oil & Gas Corporation will post $0.62 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 8th. This represents a $0.20 annualized dividend and a yield of 0.82%. Cabot Oil & Gas Corporation’s dividend payout ratio is presently -54.05%.

A number of large investors have recently made changes to their positions in the company. Norinchukin Bank The raised its stake in shares of Cabot Oil & Gas Corporation by 9.4% in the first quarter. Norinchukin Bank The now owns 30,874 shares of the oil and gas exploration company’s stock valued at $738,000 after buying an additional 2,655 shares in the last quarter. British Columbia Investment Management Corp raised its stake in Cabot Oil & Gas Corporation by 219.3% in the first quarter. British Columbia Investment Management Corp now owns 461,627 shares of the oil and gas exploration company’s stock worth $11,038,000 after buying an additional 317,069 shares during the period. PNC Financial Services Group Inc. raised its stake in Cabot Oil & Gas Corporation by 8.8% in the first quarter. PNC Financial Services Group Inc. now owns 61,356 shares of the oil and gas exploration company’s stock worth $1,467,000 after buying an additional 4,941 shares during the period. Gulf International Bank UK Ltd increased its position in shares of Cabot Oil & Gas Corporation by 1.8% in the first quarter. Gulf International Bank UK Ltd now owns 146,344 shares of the oil and gas exploration company’s stock worth $3,499,000 after buying an additional 2,600 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Cabot Oil & Gas Corporation by 25.3% in the second quarter. US Bancorp DE now owns 751,522 shares of the oil and gas exploration company’s stock worth $18,848,000 after buying an additional 151,938 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.

Cabot Oil & Gas Corporation Company 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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