Koch Industries Inc. bought a new position in Cabot Oil & Gas Co. (NYSE:COG) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 13,056 shares of the oil and gas exploration company’s stock, valued at approximately $373,000.
Other hedge funds also recently modified their holdings of the company. Advisors Asset Management Inc. bought a new position in Cabot Oil & Gas in the 3rd quarter worth about $130,000. MHI Funds LLC bought a new position in Cabot Oil & Gas in the 4th quarter worth about $147,000. Fuller & Thaler Asset Management Inc. bought a new position in Cabot Oil & Gas in the 4th quarter worth about $186,000. Calamos Advisors LLC bought a new position in Cabot Oil & Gas in the 4th quarter worth about $202,000. Finally, Commerce Bank bought a new position in Cabot Oil & Gas in the 4th quarter worth about $203,000. Institutional investors and hedge funds own 98.57% of the company’s stock.
A number of equities analysts have commented on COG shares. Morgan Stanley restated a “sell” rating on shares of Cabot Oil & Gas in a research note on Thursday, December 14th. Raymond James Financial downgraded shares of Cabot Oil & Gas from an “outperform” rating to a “sell” rating in a research note on Tuesday, January 2nd. Zacks Investment Research upgraded shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, January 2nd. Credit Suisse Group started coverage on shares of Cabot Oil & Gas in a research note on Monday, December 11th. They set a “neutral” rating and a $30.00 price objective on the stock. Finally, Tudor Pickering upgraded shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating in a research note on Monday, February 12th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $31.21.
Cabot Oil & Gas (NYSE:COG) last announced its earnings results on Friday, February 23rd. The oil and gas exploration company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.04. The company had revenue of $400.50 million during the quarter, compared to the consensus estimate of $422.12 million. Cabot Oil & Gas had a net margin of 5.69% and a return on equity of 8.60%. Cabot Oil & Gas’s revenue was up 26.5% compared to the same quarter last year. During the same period last year, the firm earned $0.01 earnings per share. equities research analysts anticipate that Cabot Oil & Gas Co. will post 1.11 EPS for the current year.
Cabot Oil & Gas announced that its Board of Directors has authorized a stock buyback plan on Friday, February 23rd that permits the company to repurchase 30,000,000 shares. This repurchase authorization permits the oil and gas exploration company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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Cabot Oil & Gas 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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