Cabot Oil & Gas Co. (COG) Position Reduced by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC cut its holdings in shares of Cabot Oil & Gas Co. (NYSE:COG) by 13.2% in the first quarter, Holdings Channel reports. The institutional investor owned 17,405 shares of the oil and gas exploration company’s stock after selling 2,637 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Cabot Oil & Gas were worth $454,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of COG. Foresters Investment Management Company Inc. purchased a new position in shares of Cabot Oil & Gas during the 4th quarter valued at approximately $6,627,000. Dimensional Fund Advisors LP increased its holdings in shares of Cabot Oil & Gas by 19.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,501,665 shares of the oil and gas exploration company’s stock valued at $33,572,000 after purchasing an additional 239,959 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Cabot Oil & Gas during the 4th quarter valued at approximately $379,000. Contravisory Investment Management Inc. increased its holdings in shares of Cabot Oil & Gas by 12.0% during the 1st quarter. Contravisory Investment Management Inc. now owns 13,338 shares of the oil and gas exploration company’s stock valued at $348,000 after purchasing an additional 1,429 shares in the last quarter. Finally, First Hawaiian Bank increased its holdings in shares of Cabot Oil & Gas by 67.7% during the 4th quarter. First Hawaiian Bank now owns 29,861 shares of the oil and gas exploration company’s stock valued at $668,000 after purchasing an additional 12,059 shares in the last quarter. 94.88% of the stock is owned by institutional investors.

In other Cabot Oil & Gas news, insider Jeffrey W. Hutton sold 150,720 shares of Cabot Oil & Gas stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $26.11, for a total transaction of $3,935,299.20. Following the sale, the insider now owns 629,270 shares of the company’s stock, valued at approximately $16,430,239.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.90% of the stock is currently owned by insiders.

Shares of NYSE COG opened at $26.13 on Friday. The firm has a market capitalization of $11.35 billion, a P/E ratio of 23.12, a P/E/G ratio of 0.40 and a beta of 0.62. The company has a quick ratio of 1.86, a current ratio of 1.90 and a debt-to-equity ratio of 0.59. Cabot Oil & Gas Co. has a one year low of $20.94 and a one year high of $27.65.

Cabot Oil & Gas (NYSE:COG) last issued its quarterly earnings results on Friday, February 22nd. The oil and gas exploration company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.03). The company had revenue of $716.30 million during the quarter, compared to analysts’ expectations of $659.51 million. Cabot Oil & Gas had a return on equity of 23.35% and a net margin of 25.46%. Cabot Oil & Gas’s revenue was up 78.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. Equities research analysts expect that Cabot Oil & Gas Co. will post 1.92 earnings per share for the current year.

COG has been the subject of several recent research reports. Zacks Investment Research raised shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Tuesday, March 26th. Jefferies Financial Group raised shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating and lifted their target price for the company from $25.00 to $29.00 in a report on Monday, January 7th. Citigroup raised shares of Cabot Oil & Gas from a “neutral” rating to a “buy” rating in a report on Friday, December 21st. Bank of America raised shares of Cabot Oil & Gas to a “buy” rating and set a $32.00 target price for the company in a report on Thursday, December 20th. Finally, TD Securities lifted their target price on shares of Cabot Oil & Gas from $30.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $28.89.

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About Cabot Oil & Gas

Cabot Oil & Gas Corporation, an independent oil and gas company, explores for, exploits, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States. It primarily focuses on the Marcellus Shale with approximately 174,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

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

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