Cabot Oil & Gas Corporation (NYSE:COG) was upgraded by equities researchers at Capital One Financial Corp from an "equal weight" rating to an "overweight" rating in a research report issued on Friday, The Fly reports.
In other news, Director Robert S. Boswell bought 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 5th. The shares were bought at an average cost of $24.35 per share, with a total value of $121,750.00. Following the completion of the purchase, the director now directly owns 15,360 shares in the company, valued at $374,016. The purchase was disclosed in a document filed with the Securities & Exchange Commission.
Also, General Counsel George Kevin Cunningham sold 8,500 shares of Cabot Oil & Gas Corp. stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $24.26, for a total transaction of $206,210.00. Following the completion of the transaction, the general counsel now directly owns 45,168 shares in the company, valued at $1,095,775.68. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently modified their holdings of the company. Financial Architects Inc bought a new position in shares of Cabot Oil & Gas Corp. during the second quarter worth about $106,000. BlueMountain Capital Management LLC bought a new position in shares of Cabot Oil & Gas Corp. during the first quarter, worth about $124,000.
ING Groep bought a new position in shares of Cabot Oil & Gas Corp. during the first quarter, worth about $239,000. Acadian Asset Management LLC bought a new position in shares of Cabot Oil & Gas Corp. during the second quarter, worth about $247,000.
Finally, Cleararc Capital Inc. increased its position in shares of Cabot Oil & Gas Corp. by 10.6% in the first quarter. Cleararc Capital Inc. now owns 11,187 shares of the oil and gas exploration company's stock, worth $254,000, after buying an additional 1,076 shares during the last quarter.
Cabot Oil & Gas Corp. traded up 3.44% during mid-day trading on Friday, reaching $24.67. 9,824,796 shares of the company's stock were exchanged. Cabot Oil & Gas Corp. has a 52-week low of $14.88 and a 52-week high of $27.24. The stock's market cap is $11.47 billion. The company has a 50-day moving average of $24.99 and a 200-day moving average of $22.64.
Cabot Oil & Gas Corp. last posted its quarterly earnings data on Friday, July 29th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.02. The company had revenue of $246.80 million for the quarter, compared to analysts' expectations of $270.13 million.
The business's quarterly revenue was down 19.4% on a year-over-year basis. During the same quarter last year, the business posted $0.03 EPS. Equities research analysts anticipate that Cabot Oil & Gas Corp. will post ($0.18) earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 24th. Investors of record on Wednesday, August 10th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.32%.
A number of other analysts also recently issued reports on the stock. Deutsche Bank decreased their price objective on shares of Cabot Oil & Gas Corp. from $24.00 to $23.00 and set a "hold" rating for the company in a report on Tuesday, June 14th. Sanford C. Bernstein restated an "outperform" rating on shares of Cabot Oil & Gas Corp. in a report on Monday, May 16th.
JPMorgan Chase & Co upgraded shares of Cabot Oil & Gas Corp. from a "neutral" rating to an "overweight" rating and set a $27.00 price objective for the company in a report on Thursday, May 5th. Barclays raised their price objective on shares of Cabot Oil & Gas Corp. from $19.00 to $20.00 and gave the stock an "equal weight" rating in a report on Monday, May 2nd.
Finally, Morgan Stanley decreased their price objective on shares of Cabot Oil & Gas Corp. from $21.00 to $20.00 and set an "equal weight" rating for the company in a report on Tuesday, April 26th.
Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. Cabot Oil & Gas Corp. presently has an average rating of "Hold" and an average price target of $26.33.
Company
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.