Cabot Oil & Gas Co. (COG) Shares Sold by Cwm LLC
Cwm LLC cut its stake in Cabot Oil & Gas Co. (NYSE:COG) by 22.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 43,416 shares of the oil and gas exploration company’s stock after selling 12,233 shares during the period. Cwm LLC’s holdings in Cabot Oil & Gas were worth $1,242,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in COG. Westwood Holdings Group Inc. bought a new stake in shares of Cabot Oil & Gas in the second quarter worth approximately $100,000. Advisors Asset Management Inc. purchased a new position in shares of Cabot Oil & Gas in the third quarter worth approximately $130,000. Pinebridge Investments L.P. purchased a new position in shares of Cabot Oil & Gas in the second quarter worth approximately $163,000. Private Advisor Group LLC purchased a new position in shares of Cabot Oil & Gas in the second quarter worth approximately $201,000. Finally, Reliance Trust Co. of Delaware purchased a new position in shares of Cabot Oil & Gas in the third quarter worth approximately $210,000. Hedge funds and other institutional investors own 95.63% of the company’s stock.
In other news, Chairman Dan O. Dinges sold 66,610 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $27.92, for a total value of $1,859,751.20. Following the transaction, the chairman now owns 2,887,018 shares of the company’s stock, valued at $80,605,542.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Kelley bought 2,000 shares of the stock in a transaction dated Tuesday, October 31st. The stock was bought at an average cost of $27.47 per share, for a total transaction of $54,940.00. Following the acquisition, the director now directly owns 619,500 shares of the company’s stock, valued at approximately $17,017,665. The disclosure for this purchase can be found here. 1.60% of the stock is owned by insiders.
Cabot Oil & Gas (NYSE:COG) last issued its quarterly earnings results on Friday, October 27th. The oil and gas exploration company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). Cabot Oil & Gas had a negative net margin of 8.80% and a positive return on equity of 6.63%. The firm had revenue of $385.40 million for the quarter, compared to analysts’ expectations of $400.85 million. During the same period in the prior year, the firm earned ($0.04) EPS. Cabot Oil & Gas’s revenue for the quarter was up 24.2% compared to the same quarter last year. equities research analysts forecast that Cabot Oil & Gas Co. will post 0.5 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $0.24 annualized dividend and a yield of 0.87%. This is an increase from Cabot Oil & Gas’s previous quarterly dividend of $0.05. Cabot Oil & Gas’s payout ratio is currently -64.51%.
COG has been the topic of a number of research reports. Williams Capital reissued a “hold” rating and issued a $28.00 price objective on shares of Cabot Oil & Gas in a report on Monday, October 9th. BMO Capital Markets set a $30.00 price objective on shares of Cabot Oil & Gas and gave the stock a “buy” rating in a report on Tuesday, October 10th. TheStreet raised shares of Cabot Oil & Gas from a “d+” rating to a “c” rating in a report on Friday, October 6th. Barclays raised their price objective on shares of Cabot Oil & Gas from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, October 11th. Finally, Morgan Stanley set a $33.00 price objective on shares of Cabot Oil & Gas and gave the stock a “buy” rating in a report on Wednesday, October 18th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $31.21.
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Cabot Oil & Gas 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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