2,125,968 Shares in Cabot Oil & Gas Co. (COG) Purchased by Anchor Bolt Capital LP

Anchor Bolt Capital LP bought a new stake in Cabot Oil & Gas Co. (NYSE:COG) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,125,968 shares of the oil and gas exploration company’s stock, valued at approximately $47,515,000. Cabot Oil & Gas makes up about 3.3% of Anchor Bolt Capital LP’s holdings, making the stock its 10th biggest holding. Anchor Bolt Capital LP owned about 0.49% of Cabot Oil & Gas as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. M&T Bank Corp grew its stake in Cabot Oil & Gas by 2.2% during the 4th quarter. M&T Bank Corp now owns 21,611 shares of the oil and gas exploration company’s stock valued at $484,000 after purchasing an additional 465 shares in the last quarter. First Quadrant L P CA grew its stake in Cabot Oil & Gas by 7.0% during the 4th quarter. First Quadrant L P CA now owns 7,600 shares of the oil and gas exploration company’s stock valued at $170,000 after purchasing an additional 500 shares in the last quarter. JOYN Advisors Inc. grew its stake in Cabot Oil & Gas by 31.2% during the 4th quarter. JOYN Advisors Inc. now owns 2,151 shares of the oil and gas exploration company’s stock valued at $48,000 after purchasing an additional 511 shares in the last quarter. Gateway Investment Advisers LLC grew its stake in Cabot Oil & Gas by 2.9% during the 4th quarter. Gateway Investment Advisers LLC now owns 20,042 shares of the oil and gas exploration company’s stock valued at $448,000 after purchasing an additional 567 shares in the last quarter. Finally, DNB Asset Management AS grew its stake in Cabot Oil & Gas by 1.0% during the 4th quarter. DNB Asset Management AS now owns 62,428 shares of the oil and gas exploration company’s stock valued at $1,395,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 99.98% of the company’s stock.

A number of equities research analysts have weighed in on the company. Tudor Pickering lowered Cabot Oil & Gas from a “buy” rating to a “hold” rating in a research note on Thursday, November 15th. Goldman Sachs Group lowered Cabot Oil & Gas from a “buy” rating to a “neutral” rating and set a $29.00 price objective for the company. in a research note on Tuesday, November 20th. Morgan Stanley set a $27.00 price objective on Cabot Oil & Gas and gave the company a “hold” rating in a research note on Tuesday, January 29th. Zacks Investment Research lowered Cabot Oil & Gas from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Finally, JPMorgan Chase & Co. set a $32.00 target price on Cabot Oil & Gas and gave the stock a “buy” rating in a research report on Friday, December 7th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $28.07.

Shares of COG opened at $26.05 on Friday. The company has a market capitalization of $11.00 billion, a PE ratio of 23.05, a PEG ratio of 0.34 and a beta of 0.62. The company has a quick ratio of 1.86, a current ratio of 1.90 and a debt-to-equity ratio of 0.59. Cabot Oil & Gas Co. has a 52 week low of $20.94 and a 52 week high of $27.40.

Cabot Oil & Gas (NYSE:COG) last issued its earnings results on Friday, February 22nd. The oil and gas exploration company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.03). The firm had revenue of $716.30 million during the quarter, compared to analyst estimates of $659.51 million. Cabot Oil & Gas had a return on equity of 23.35% and a net margin of 25.46%. Cabot Oil & Gas’s revenue was up 78.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 EPS. Equities analysts expect that Cabot Oil & Gas Co. will post 1.77 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “2,125,968 Shares in Cabot Oil & Gas Co. (COG) Purchased by Anchor Bolt Capital LP” was first published by Transcript Daily and is owned by of Transcript Daily. If you are reading this article on another publication, it was stolen and republished in violation of United States and international copyright & trademark legislation. The legal version of this article can be accessed at https://transcriptdaily.com/2019/03/15/2125968-shares-in-cabot-oil-gas-co-cog-purchased-by-anchor-bolt-capital-lp.html.

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 172,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; and the Eagle Ford Shale with approximately 79,000 net acres in the oil window of the play located in Atascosa, Frio, and La Salle Counties, Texas.

Further Reading: What is a recession?

Want to see what other hedge funds are holding COG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cabot Oil & Gas Co. (NYSE:COG).

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

Receive News & Ratings for Cabot Oil & Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot Oil & Gas and related companies with MarketBeat.com's FREE daily email newsletter.