Cabot Oil & Gas Corporation (COG) Stake Lowered by California State Teachers Retirement System

California State Teachers Retirement System decreased its holdings in shares of Cabot Oil & Gas Corporation (NYSE:COG) by 8.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 755,702 shares of the oil and gas exploration company’s stock after selling 73,758 shares during the quarter. California State Teachers Retirement System owned 0.16% of Cabot Oil & Gas worth $20,215,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Westwood Holdings Group Inc. purchased a new stake in Cabot Oil & Gas in the second quarter worth approximately $100,000. IFP Advisors Inc boosted its stake in Cabot Oil & Gas by 11.1% in the second quarter. IFP Advisors Inc now owns 4,569 shares of the oil and gas exploration company’s stock worth $115,000 after buying an additional 457 shares in the last quarter. Parallel Advisors LLC boosted its stake in Cabot Oil & Gas by 1.4% in the second quarter. Parallel Advisors LLC now owns 5,050 shares of the oil and gas exploration company’s stock worth $126,000 after buying an additional 71 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in Cabot Oil & Gas in the third quarter worth approximately $130,000. Finally, Pinebridge Investments L.P. purchased a new stake in Cabot Oil & Gas in the second quarter worth approximately $163,000. 95.64% of the stock is owned by institutional investors.

In other news, Director Robert Kelley bought 2,000 shares of Cabot Oil & Gas stock in a transaction on Tuesday, October 31st. The stock was acquired at an average price of $27.47 per share, with a total value of $54,940.00. Following the completion of the acquisition, the director now directly owns 619,500 shares of the company’s stock, valued at $17,017,665. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Dan O. Dinges sold 66,610 shares of the stock in a transaction that occurred 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 directly owns 2,887,018 shares of the company’s stock, valued at approximately $80,605,542.56. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

COG has been the topic of a number of recent research reports. Cowen set a $30.00 target price on Cabot Oil & Gas and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Morgan Stanley set a $33.00 price target on Cabot Oil & Gas and gave the company a “buy” rating in a report on Wednesday, October 18th. BMO Capital Markets set a $30.00 target price on Cabot Oil & Gas and gave the stock a “buy” rating in a report on Tuesday, October 10th. Stifel Nicolaus restated a “buy” rating and set a $33.00 price objective on shares of Cabot Oil & Gas in a report on Thursday, September 14th. Finally, Scotiabank set a $30.00 target price on Cabot Oil & Gas and gave the company a “buy” rating in a research report on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $30.56.

Cabot Oil & Gas Corporation (NYSE COG) opened at $26.82 on Wednesday. The firm has a market capitalization of $12,529.35, a PE ratio of 71.29, a P/E/G ratio of 1.85 and a beta of 0.52. Cabot Oil & Gas Corporation has a fifty-two week low of $20.55 and a fifty-two week high of $29.57. The company has a quick ratio of 1.61, a current ratio of 1.64 and a debt-to-equity ratio of 0.49.

Cabot Oil & Gas (NYSE:COG) last released its quarterly earnings results on Friday, October 27th. The oil and gas exploration company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $385.40 million during the quarter, compared to analyst estimates of $400.85 million. Cabot Oil & Gas had a positive return on equity of 6.63% and a negative net margin of 8.80%. The business’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.04) EPS. analysts forecast that Cabot Oil & Gas Corporation will post 0.49 earnings per share for the current fiscal year.

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

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