Franklin Resources Inc. Lowers Position in Cabot Oil & Gas Corporation (COG)

Franklin Resources Inc. trimmed its position in Cabot Oil & Gas Corporation (NYSE:COG) by 2.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,168,151 shares of the oil and gas exploration company’s stock after selling 156,546 shares during the quarter. Franklin Resources Inc. owned approximately 1.33% of Cabot Oil & Gas Corporation worth $154,697,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. CIBC World Markets Inc. acquired a new stake in Cabot Oil & Gas Corporation in the second quarter worth about $1,225,000. Private Advisor Group LLC acquired a new stake in Cabot Oil & Gas Corporation in the second quarter worth about $201,000. Engineers Gate Manager LP acquired a new stake in Cabot Oil & Gas Corporation in the second quarter worth about $745,000. Schroder Investment Management Group increased its position in Cabot Oil & Gas Corporation by 22.0% in the second quarter. Schroder Investment Management Group now owns 2,549,696 shares of the oil and gas exploration company’s stock worth $63,283,000 after purchasing an additional 459,266 shares during the period. Finally, IFM Investors Pty Ltd acquired a new stake in Cabot Oil & Gas Corporation in the second quarter worth about $337,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Shares of Cabot Oil & Gas Corporation (NYSE:COG) opened at 25.97 on Friday. The firm has a 50-day moving average price of $25.08 and a 200 day moving average price of $23.93. Cabot Oil & Gas Corporation has a 1-year low of $20.02 and a 1-year high of $27.14. The company’s market cap is $12.01 billion.

Cabot Oil & Gas Corporation (NYSE:COG) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.01. The firm had revenue of $460.50 million during the quarter, compared to the consensus estimate of $454.76 million. Cabot Oil & Gas Corporation had a positive return on equity of 4.68% and a negative net margin of 10.95%. The firm’s revenue was up 86.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.07) EPS. On average, equities analysts anticipate that Cabot Oil & Gas Corporation will post $0.61 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were issued a $0.05 dividend. The ex-dividend date was Tuesday, August 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.77%. Cabot Oil & Gas Corporation’s dividend payout ratio is presently -54.05%.

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A number of analysts recently commented on COG shares. Macquarie upgraded Cabot Oil & Gas Corporation from a “neutral” rating to an “outperform” rating and set a $26.00 price objective for the company in a research report on Tuesday, June 6th. TheStreet lowered Cabot Oil & Gas Corporation from a “c” rating to a “d+” rating in a research report on Thursday, August 24th. BidaskClub lowered Cabot Oil & Gas Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. BMO Capital Markets reiterated a “buy” rating and issued a $30.00 price objective on shares of Cabot Oil & Gas Corporation in a research report on Friday, September 1st. Finally, Scotiabank set a $30.00 price objective on Cabot Oil & Gas Corporation and gave the stock a “buy” rating in a research report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. Cabot Oil & Gas Corporation presently has a consensus rating of “Buy” and an average target price of $29.67.

In other news, insider Jeffrey W. Hutton sold 11,918 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $26.79, for a total value of $319,283.22. Following the transaction, the insider now owns 635,124 shares in the company, valued at $17,014,971.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is owned by company insiders.

Cabot Oil & Gas Corporation 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.

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

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