Keudell Morrison Wealth Management Takes Position in Cabot Oil & Gas Co. (NYSE:COG)

Keudell Morrison Wealth Management purchased a new position in Cabot Oil & Gas Co. (NYSE:COG) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 55,538 shares of the oil and gas exploration company’s stock, valued at approximately $1,275,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Carroll Financial Associates Inc. increased its stake in shares of Cabot Oil & Gas by 50.4% in the second quarter. Carroll Financial Associates Inc. now owns 1,806 shares of the oil and gas exploration company’s stock worth $41,000 after acquiring an additional 605 shares during the last quarter. Augustine Asset Management Inc. increased its stake in shares of Cabot Oil & Gas by 0.6% in the second quarter. Augustine Asset Management Inc. now owns 100,504 shares of the oil and gas exploration company’s stock worth $2,308,000 after acquiring an additional 635 shares during the last quarter. Seeyond increased its stake in shares of Cabot Oil & Gas by 1.1% in the second quarter. Seeyond now owns 60,167 shares of the oil and gas exploration company’s stock worth $1,381,000 after acquiring an additional 644 shares during the last quarter. Profund Advisors LLC increased its stake in shares of Cabot Oil & Gas by 4.1% in the second quarter. Profund Advisors LLC now owns 17,109 shares of the oil and gas exploration company’s stock worth $393,000 after acquiring an additional 669 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of Cabot Oil & Gas by 2.2% in the second quarter. Janney Montgomery Scott LLC now owns 31,688 shares of the oil and gas exploration company’s stock worth $728,000 after acquiring an additional 684 shares during the last quarter. 96.62% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently weighed in on COG shares. Wolfe Research raised shares of Cabot Oil & Gas from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 19th. Morgan Stanley set a $23.00 target price on shares of Cabot Oil & Gas and gave the stock a “hold” rating in a research report on Monday, June 24th. MKM Partners raised shares of Cabot Oil & Gas from a “neutral” rating to a “buy” rating in a research report on Monday, July 29th. Tudor Pickering raised shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Friday, August 2nd. Finally, Williams Capital reissued a “hold” rating and set a $22.00 target price on shares of Cabot Oil & Gas in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $27.39.

In other Cabot Oil & Gas news, CEO Dan O. Dinges purchased 16,755 shares of the stock in a transaction dated Friday, August 16th. The shares were bought at an average cost of $16.28 per share, with a total value of $272,771.40. Following the completion of the transaction, the chief executive officer now owns 3,104,405 shares in the company, valued at approximately $50,539,713.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Dan O. Dinges purchased 20,000 shares of the stock in a transaction dated Monday, August 19th. The stock was acquired at an average cost of $16.34 per share, for a total transaction of $326,800.00. Following the completion of the transaction, the chairman now owns 3,104,405 shares of the company’s stock, valued at approximately $50,725,977.70. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 53,255 shares of company stock worth $895,416. 1.90% of the stock is currently owned by company insiders.

Cabot Oil & Gas stock remained flat at $$17.57 during mid-day trading on Tuesday. 2,413,060 shares of the company’s stock traded hands, compared to its average volume of 7,915,037. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.61 and a current ratio of 2.70. The firm has a market capitalization of $7.33 billion, a PE ratio of 15.54, a P/E/G ratio of 0.70 and a beta of 0.53. Cabot Oil & Gas Co. has a 52-week low of $16.01 and a 52-week high of $27.65. The business has a fifty day moving average price of $17.43 and a 200 day moving average price of $22.66.

Cabot Oil & Gas (NYSE:COG) last issued its quarterly earnings results on Friday, July 26th. The oil and gas exploration company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.05. The company had revenue of $534.12 million for the quarter, compared to the consensus estimate of $476.10 million. Cabot Oil & Gas had a return on equity of 34.79% and a net margin of 34.51%. The firm’s revenue was up 17.8% compared to the same quarter last year. During the same period last year, the business posted $0.13 earnings per share. Analysts expect that Cabot Oil & Gas Co. will post 1.68 EPS for the current fiscal year.

Cabot Oil & Gas announced that its Board of Directors has initiated a stock buyback plan on Friday, July 26th that allows the company to repurchase 25,000,000 outstanding shares. This repurchase authorization allows the oil and gas exploration company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

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.

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

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