Cabot Oil & Gas Corporation (NYSE:COG) announced a quarterly dividend on Wednesday, October 25th, RTT News reports. Stockholders of record on Wednesday, November 8th will be given a dividend of 0.05 per share by the oil and gas exploration company on Friday, November 17th. This represents a $0.20 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Tuesday, November 7th.
Cabot Oil & Gas Corporation has raised its dividend payment by an average of 10.1% per year over the last three years. Cabot Oil & Gas Corporation has a dividend payout ratio of 37.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cabot Oil & Gas Corporation to earn $0.71 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 28.2%.
Shares of Cabot Oil & Gas Corporation (NYSE COG) opened at $28.23 on Monday. The stock has a market cap of $13,056.61, a price-to-earnings ratio of 74.29, a PEG ratio of 1.63 and a beta of 0.51. Cabot Oil & Gas Corporation has a 1 year low of $20.02 and a 1 year high of $28.41. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.61 and a current ratio of 1.64.
Cabot Oil & Gas Corporation (NYSE:COG) last released its quarterly earnings data on Friday, October 27th. The oil and gas exploration company reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.01). The firm had revenue of $385.40 million for the quarter, compared to analysts’ expectations of $400.85 million. Cabot Oil & Gas Corporation had a positive return on equity of 6.63% and a negative net margin of 8.80%. Cabot Oil & Gas Corporation’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period last year, the firm posted ($0.04) earnings per share. research analysts anticipate that Cabot Oil & Gas Corporation will post 0.54 earnings per share for the current year.
COG has been the subject of several recent analyst reports. TheStreet cut shares of Cabot Oil & Gas Corporation from a “c” rating to a “d+” rating in a research report on Thursday, August 24th. Williams Capital set a $30.00 price target on shares of Cabot Oil & Gas Corporation and gave the company a “hold” rating in a research report on Friday, July 28th. Scotiabank set a $30.00 price target on shares of Cabot Oil & Gas Corporation and gave the company a “buy” rating in a research report on Tuesday, August 22nd. William Blair cut shares of Cabot Oil & Gas Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Finally, BMO Capital Markets reduced their price target on shares of Cabot Oil & Gas Corporation from $29.00 to $28.00 and set a “market perform” rating for the company in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. Cabot Oil & Gas Corporation has an average rating of “Buy” and a consensus target price of $29.65.
In other news, Director Robert Kelley purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were acquired at an average cost of $27.47 per share, for a total transaction of $54,940.00. Following the completion of the purchase, the director now directly owns 619,500 shares in the company, valued at approximately $17,017,665. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeffrey W. Hutton sold 11,918 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $26.79, for a total transaction of $319,283.22. Following the transaction, the insider now owns 635,124 shares in the company, valued at $17,014,971.96. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
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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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