The Manufacturers Life Insurance Company cut its stake in Cabot Oil & Gas Corporation (NYSE:COG) by 11.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 524,870 shares of the oil and gas exploration company’s stock after selling 69,397 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.11% of Cabot Oil & Gas Corporation worth $13,163,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of COG. Stifel Financial Corp lifted its stake in Cabot Oil & Gas Corporation by 111.4% in the 1st quarter. Stifel Financial Corp now owns 19,485 shares of the oil and gas exploration company’s stock valued at $469,000 after buying an additional 10,268 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in Cabot Oil & Gas Corporation by 1.9% in the 1st quarter. OppenheimerFunds Inc. now owns 24,532 shares of the oil and gas exploration company’s stock worth $587,000 after purchasing an additional 455 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Cabot Oil & Gas Corporation by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 734,991 shares of the oil and gas exploration company’s stock worth $17,573,000 after purchasing an additional 22,877 shares in the last quarter. Teachers Advisors LLC lifted its stake in Cabot Oil & Gas Corporation by 5.7% in the 1st quarter. Teachers Advisors LLC now owns 627,051 shares of the oil and gas exploration company’s stock worth $14,993,000 after purchasing an additional 34,042 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Cabot Oil & Gas Corporation by 8.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 61,356 shares of the oil and gas exploration company’s stock worth $1,467,000 after purchasing an additional 4,941 shares in the last quarter. 96.30% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on the stock. Bank of America Corporation raised shares of Cabot Oil & Gas Corporation from a “neutral” rating to a “buy” rating and raised their target price for the stock from $28.00 to $32.00 in a research note 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 note on Tuesday, July 18th. Cowen and Company reissued a “buy” rating and issued a $30.00 target price on shares of Cabot Oil & Gas Corporation in a research note 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 note 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 note on Saturday, July 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $29.18.

In related news, insider Jeffrey W. Hutton sold 11,918 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $26.79, for a total transaction of $319,283.22. Following the completion of the transaction, the insider now owns 635,124 shares of the company’s stock, valued at $17,014,971.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Shares of Cabot Oil & Gas Corporation (COG) opened at 25.48 on Friday. The company has a 50-day moving average of $26.29 and a 200 day moving average of $24.65. The firm’s market cap is $11.78 billion. Cabot Oil & Gas Corporation has a 12-month low of $20.02 and a 12-month high of $27.14.

Cabot Oil & Gas Corporation (NYSE:COG) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported $0.14 EPS for the quarter, missing the 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 company had revenue of $460.50 million for the quarter, compared to analyst estimates of $454.76 million. During the same period last year, the company posted ($0.07) EPS. The business’s revenue for the quarter was up 86.6% on a year-over-year basis. Equities research analysts anticipate that Cabot Oil & Gas Corporation will post $0.58 earnings per share for the current fiscal year.

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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.

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

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