Fjarde AP Fonden Fourth Swedish National Pension Fund Increases Stock Position in Cabot Oil & Gas Co. (NYSE:COG)

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Cabot Oil & Gas Co. (NYSE:COG) by 8.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,026 shares of the oil and gas exploration company’s stock after buying an additional 7,600 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Cabot Oil & Gas were worth $1,652,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in COG. Stonebridge Capital Advisors LLC purchased a new stake in shares of Cabot Oil & Gas in the 2nd quarter worth about $26,000. North Star Investment Management Corp. bought a new stake in Cabot Oil & Gas during the 3rd quarter valued at about $29,000. Carroll Financial Associates Inc. increased its stake in Cabot Oil & Gas by 50.4% during the 2nd quarter. Carroll Financial Associates Inc. now owns 1,806 shares of the oil and gas exploration company’s stock valued at $41,000 after purchasing an additional 605 shares in the last quarter. First Interstate Bank increased its stake in Cabot Oil & Gas by 278.6% during the 2nd quarter. First Interstate Bank now owns 1,893 shares of the oil and gas exploration company’s stock valued at $43,000 after purchasing an additional 1,393 shares in the last quarter. Finally, CSat Investment Advisory L.P. increased its stake in Cabot Oil & Gas by 74.3% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,954 shares of the oil and gas exploration company’s stock valued at $45,000 after purchasing an additional 833 shares in the last quarter. 96.30% of the stock is owned by institutional investors and hedge funds.

COG opened at $18.36 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.37 and a debt-to-equity ratio of 0.51. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 0.76 and a beta of 0.56. The company’s 50 day moving average is $18.04 and its 200 day moving average is $21.09. Cabot Oil & Gas Co. has a 12-month low of $16.01 and a 12-month high of $27.65.

Cabot Oil & Gas (NYSE:COG) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas exploration company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $429.11 million for the quarter, compared to the consensus estimate of $453.73 million. Cabot Oil & Gas had a net margin of 34.86% and a return on equity of 34.92%. The firm’s revenue was down 21.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 earnings per share. As a group, analysts predict that Cabot Oil & Gas Co. will post 1.59 EPS for the current fiscal year.

Cabot Oil & Gas declared that its Board of Directors has authorized a stock repurchase plan on Friday, July 26th that permits the company to buyback 25,000,000 outstanding shares. This buyback authorization permits the oil and gas exploration company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Wednesday, November 6th will be issued a $0.10 dividend. This is an increase from Cabot Oil & Gas’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.18%. Cabot Oil & Gas’s dividend payout ratio (DPR) is presently 35.40%.

In other news, Director Rhys J. Best purchased 7,500 shares of the stock in a transaction on Friday, August 16th. The shares were acquired at an average price of $16.31 per share, with a total value of $122,325.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dan O. Dinges purchased 16,755 shares of the stock in a transaction on Friday, August 16th. The shares were purchased at an average cost of $16.28 per share, for a total transaction of $272,771.40. Following the acquisition, the chief executive officer now directly owns 3,104,405 shares of the company’s stock, valued at $50,539,713.40. The disclosure for this purchase can be found here. In the last three months, insiders purchased 44,255 shares of company stock worth $721,896. 1.90% of the stock is currently owned by insiders.

A number of analysts have weighed in on the stock. ValuEngine upgraded shares of Cabot Oil & Gas from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Citigroup reduced their price target on shares of Cabot Oil & Gas from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Susquehanna Bancshares lowered shares of Cabot Oil & Gas from a “positive” rating to a “neutral” rating and set a $21.00 price target for the company. in a research note on Monday, October 28th. TD Securities reduced their price target on shares of Cabot Oil & Gas from $29.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, July 29th. Finally, MKM Partners upgraded shares of Cabot Oil & Gas from a “neutral” rating to a “buy” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $27.07.

Cabot Oil & Gas Company Profile

Cabot Oil & Gas Corporation, an independent oil and gas company, explores for, exploits, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States. It primarily focuses on the Marcellus Shale with approximately 174,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

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Institutional Ownership by Quarter for Cabot Oil & Gas (NYSE:COG)

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