Intrepid Capital Management Inc. lifted its holdings in shares of Cabot Oil & Gas Co. (NYSE:COG) by 297.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 426,855 shares of the oil and gas exploration company’s stock after acquiring an additional 319,540 shares during the period. Cabot Oil & Gas accounts for approximately 5.4% of Intrepid Capital Management Inc.’s portfolio, making the stock its 3rd biggest holding. Intrepid Capital Management Inc.’s holdings in Cabot Oil & Gas were worth $11,141,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of COG. Foresters Investment Management Company Inc. bought a new stake in Cabot Oil & Gas during the fourth quarter worth approximately $6,627,000. Janus Henderson Group PLC raised its holdings in Cabot Oil & Gas by 13.1% during the first quarter. Janus Henderson Group PLC now owns 1,647,588 shares of the oil and gas exploration company’s stock worth $43,002,000 after purchasing an additional 191,268 shares in the last quarter. Contravisory Investment Management Inc. raised its holdings in Cabot Oil & Gas by 12.0% during the first quarter. Contravisory Investment Management Inc. now owns 13,338 shares of the oil and gas exploration company’s stock worth $348,000 after purchasing an additional 1,429 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Cabot Oil & Gas by 19.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,501,665 shares of the oil and gas exploration company’s stock worth $33,572,000 after purchasing an additional 239,959 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Cabot Oil & Gas during the fourth quarter worth approximately $379,000. Institutional investors and hedge funds own 98.39% of the company’s stock.
NYSE COG traded up $0.05 on Friday, hitting $23.95. 76,347 shares of the stock were exchanged, compared to its average volume of 6,464,457. Cabot Oil & Gas Co. has a 52-week low of $20.94 and a 52-week high of $27.65. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.75 and a current ratio of 2.83. The stock has a market cap of $10.16 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 0.36 and a beta of 0.62.
Cabot Oil & Gas (NYSE:COG) last posted its quarterly earnings data on Friday, April 26th. The oil and gas exploration company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.09. Cabot Oil & Gas had a net margin of 29.81% and a return on equity of 31.52%. The firm had revenue of $641.70 million for the quarter, compared to analysts’ expectations of $674.71 million. During the same period in the previous year, the company posted $0.28 EPS. The company’s quarterly revenue was up 35.6% compared to the same quarter last year. On average, research analysts forecast that Cabot Oil & Gas Co. will post 1.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.50%. This is a boost from Cabot Oil & Gas’s previous quarterly dividend of $0.07. The ex-dividend date was Tuesday, May 14th. Cabot Oil & Gas’s payout ratio is presently 31.86%.
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 transaction, the insider now directly owns 629,270 shares in the company, valued at approximately $16,430,239.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.90% of the company’s stock.
Several research analysts have issued reports on the company. Zacks Investment Research cut Cabot Oil & Gas from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Williams Capital reaffirmed a “hold” rating and issued a $28.00 price target on shares of Cabot Oil & Gas in a report on Sunday, April 21st. TD Securities upped their price target on Cabot Oil & Gas from $30.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Cowen assumed coverage on Cabot Oil & Gas in a report on Tuesday, April 9th. They issued an “outperform” rating and a $32.00 price target on the stock. Finally, Guggenheim set a $27.00 price target on Cabot Oil & Gas and gave the company a “hold” rating in a report on Friday, February 22nd. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Cabot Oil & Gas presently has a consensus rating of “Buy” and a consensus target price of $29.08.
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Cabot Oil & Gas Company Profile
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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