California State Teachers Retirement System Sells 911 Shares of Cabot Oil & Gas Co. (NYSE:COG)

California State Teachers Retirement System lessened its stake in Cabot Oil & Gas Co. (NYSE:COG) by 0.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 724,224 shares of the oil and gas exploration company’s stock after selling 911 shares during the period. California State Teachers Retirement System owned approximately 0.18% of Cabot Oil & Gas worth $12,725,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of COG. Stonebridge Capital Advisors LLC bought a new position in Cabot Oil & Gas in the second quarter valued at $26,000. North Star Investment Management Corp. purchased a new position in shares of Cabot Oil & Gas in the 3rd quarter worth about $29,000. First Interstate Bank boosted its holdings in shares of Cabot Oil & Gas by 278.6% in the 2nd quarter. First Interstate Bank now owns 1,893 shares of the oil and gas exploration company’s stock worth $43,000 after purchasing an additional 1,393 shares in the last quarter. CSat Investment Advisory L.P. increased its position in shares of 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 during the last quarter. Finally, Quest Capital Management Inc. ADV bought a new position in shares of Cabot Oil & Gas during the 3rd quarter valued at about $37,000. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:COG opened at $15.71 on Wednesday. The firm has a market capitalization of $6.50 billion, a P/E ratio of 8.57, a P/E/G ratio of 0.67 and a beta of 0.49. The company has a quick ratio of 1.37, a current ratio of 1.43 and a debt-to-equity ratio of 0.51. The company has a fifty day moving average of $17.66 and a 200 day moving average of $19.97. Cabot Oil & Gas Co. has a 52 week low of $15.61 and a 52 week high of $27.65.

Cabot Oil & Gas (NYSE:COG) last released its quarterly earnings data on Thursday, October 24th. The oil and gas exploration company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Cabot Oil & Gas had a net margin of 34.86% and a return on equity of 34.92%. The firm had revenue of $429.11 million for the quarter, compared to analysts’ expectations of $453.73 million. During the same quarter in the previous year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was down 21.3% compared to the same quarter last year. As a group, analysts anticipate that Cabot Oil & Gas Co. will post 1.6 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Wednesday, November 6th were given a $0.10 dividend. This is a positive change from Cabot Oil & Gas’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Tuesday, November 5th. Cabot Oil & Gas’s dividend payout ratio (DPR) is currently 35.40%.

A number of analysts recently weighed in on the company. ValuEngine upgraded Cabot Oil & Gas from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Williams Capital set a $22.00 price target on shares of Cabot Oil & Gas and gave the stock a “hold” rating in a research note on Monday, September 30th. Wolfe Research upgraded shares of Cabot Oil & Gas from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 19th. Susquehanna Bancshares cut shares of Cabot Oil & Gas from a “positive” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research note on Monday, October 28th. Finally, Citigroup started coverage on shares of Cabot Oil & Gas in a report on Tuesday, November 26th. They set a “buy” rating and a $22.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $26.68.

About Cabot Oil & Gas

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.

Further Reading: Balance Sheet

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

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