Bridgewater Associates LP Trims Position in Cabot Oil & Gas Corporation (COG)

Bridgewater Associates LP lowered its stake in shares of Cabot Oil & Gas Corporation (NYSE:COG) by 81.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,355 shares of the oil and gas exploration company’s stock after selling 124,489 shares during the quarter. Bridgewater Associates LP’s holdings in Cabot Oil & Gas Corporation were worth $711,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of COG. IFP Advisors Inc grew its position in Cabot Oil & Gas Corporation by 11.1% during the second quarter. IFP Advisors Inc now owns 4,569 shares of the oil and gas exploration company’s stock valued at $115,000 after buying an additional 457 shares during the period. Parallel Advisors LLC grew its position in Cabot Oil & Gas Corporation by 1.4% during the second quarter. Parallel Advisors LLC now owns 5,050 shares of the oil and gas exploration company’s stock valued at $126,000 after buying an additional 71 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. grew its position in Cabot Oil & Gas Corporation by 83.8% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 6,800 shares of the oil and gas exploration company’s stock valued at $163,000 after buying an additional 3,100 shares during the period. Stephens Inc. AR grew its position in Cabot Oil & Gas Corporation by 313.6% during the first quarter. Stephens Inc. AR now owns 7,578 shares of the oil and gas exploration company’s stock valued at $181,000 after buying an additional 5,746 shares during the period. Finally, Private Advisor Group LLC bought a new position in Cabot Oil & Gas Corporation during the second quarter valued at about $201,000. Institutional investors own 96.35% of the company’s stock.

Several research firms recently weighed in on COG. Bank of America Corporation upgraded shares of Cabot Oil & Gas Corporation from a “neutral” rating to a “buy” rating and increased their price target for the company from $28.00 to $32.00 in a research report on Friday, June 30th. Zacks Investment Research lowered shares of Cabot Oil & Gas Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Cowen and Company reiterated a “buy” rating and set a $30.00 target price on shares of Cabot Oil & Gas Corporation in a research report on Tuesday, September 12th. BMO Capital Markets set a $30.00 target price on shares of Cabot Oil & Gas Corporation and gave the stock a “buy” rating in a research report on Sunday, July 30th. Finally, Scotiabank set a $28.00 target price on shares of Cabot Oil & Gas Corporation and gave the stock a “buy” rating in a research report on Saturday, July 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Cabot Oil & Gas Corporation presently has an average rating of “Buy” and an average target price of $29.83.

In other Cabot Oil & Gas Corporation news, insider Jeffrey W. Hutton sold 11,918 shares of the company’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 completion of the transaction, the insider now directly owns 635,124 shares in the company, valued at approximately $17,014,971.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

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Shares of Cabot Oil & Gas Corporation (COG) opened at 26.81 on Friday. The company has a 50-day moving average of $25.28 and a 200-day moving average of $24.07. Cabot Oil & Gas Corporation has a 52 week low of $20.02 and a 52 week high of $27.14. The stock’s market capitalization is $12.40 billion.

Cabot Oil & Gas Corporation (NYSE:COG) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01). Cabot Oil & Gas Corporation had a positive return on equity of 4.68% and a negative net margin of 10.95%. The business had revenue of $460.50 million during the quarter, compared to the consensus estimate of $454.76 million. During the same quarter in the previous year, the company earned ($0.07) earnings per share. The company’s revenue for the quarter was up 86.6% compared to the same quarter last year. On average, analysts anticipate that Cabot Oil & Gas Corporation will post $0.60 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were paid a $0.05 dividend. The ex-dividend date was Tuesday, August 8th. This represents a $0.20 annualized dividend and a yield of 0.75%. Cabot Oil & Gas Corporation’s payout ratio is -54.05%.

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

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