State Board of Administration of Florida Retirement System Cuts Holdings in Cabot Oil & Gas Co. (COG)

State Board of Administration of Florida Retirement System decreased its holdings in shares of Cabot Oil & Gas Co. (NYSE:COG) by 3.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 625,320 shares of the oil and gas exploration company’s stock after selling 24,320 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Cabot Oil & Gas were worth $16,321,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of COG. Paragon Capital Management LLC purchased a new position in shares of Cabot Oil & Gas in the 1st quarter worth approximately $26,000. Joseph P. Lucia & Associates LLC purchased a new position in shares of Cabot Oil & Gas in the 1st quarter worth approximately $40,000. Carroll Financial Associates Inc. grew its position in shares of Cabot Oil & Gas by 192.9% in the 1st quarter. Carroll Financial Associates Inc. now owns 1,201 shares of the oil and gas exploration company’s stock worth $31,000 after buying an additional 791 shares during the last quarter. Pearl River Capital LLC purchased a new position in shares of Cabot Oil & Gas in the 1st quarter worth approximately $32,000. Finally, Whittier Trust Co. grew its position in shares of Cabot Oil & Gas by 97.2% in the 4th quarter. Whittier Trust Co. now owns 1,430 shares of the oil and gas exploration company’s stock worth $32,000 after buying an additional 705 shares during the last quarter. 94.88% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on COG shares. TD Securities lifted their price objective on shares of Cabot Oil & Gas from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Zacks Investment Research raised shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research report on Tuesday, April 2nd. Guggenheim set a $27.00 price objective on shares of Cabot Oil & Gas and gave the stock a “hold” rating in a research report on Friday, February 22nd. Williams Capital reaffirmed a “hold” rating and issued a $27.00 price objective on shares of Cabot Oil & Gas in a research report on Friday, February 22nd. Finally, ValuEngine upgraded shares of Cabot Oil & Gas from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Cabot Oil & Gas has an average rating of “Buy” and an average target price of $28.64.

COG stock opened at $26.30 on Thursday. The company has a market capitalization of $10.94 billion, a P/E ratio of 23.27, a P/E/G ratio of 0.39 and a beta of 0.62. The company has a quick ratio of 2.75, a current ratio of 2.83 and a debt-to-equity ratio of 0.53. Cabot Oil & Gas Co. has a 52 week low of $20.94 and a 52 week high of $27.65.

Cabot Oil & Gas (NYSE:COG) last released its earnings results on Friday, April 26th. The oil and gas exploration company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.09. The company had revenue of $641.70 million during the quarter, compared to analysts’ expectations of $674.71 million. Cabot Oil & Gas had a net margin of 29.81% and a return on equity of 31.52%. Cabot Oil & Gas’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same period last year, the business earned $0.28 EPS. As a group, equities research analysts forecast that Cabot Oil & Gas Co. will post 1.91 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Wednesday, May 15th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This is a boost from Cabot Oil & Gas’s previous quarterly dividend of $0.07. This represents a $0.36 dividend on an annualized basis and a yield of 1.37%. Cabot Oil & Gas’s dividend payout ratio (DPR) is 24.78%.

In other Cabot Oil & Gas news, insider Jeffrey W. Hutton sold 150,720 shares of Cabot Oil & Gas stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 629,270 shares in the company, valued at approximately $16,430,239.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

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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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