Cabot Oil & Gas Corp. (NYSE: COG) shares rose in value on Monday January 23 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, U.S. stocks flipped between small gains and losses in early trade on Monday.
The Dow Jones Industrial Average DJIA, -0.14% was off by 13 points, or less than 0.1%, at 19,815, with McDonald’s Corp MCD, -0.99% and General Electric CoGE, -0.95% leading the losses, down more than 1%.
The S&P 500 SPX, -0.18% slipped 2 point to 2,270, with five of the main sectors trading lower. The Nasdaq Composite COMP, -0.09% gained 4 points to 5,558.
Analysts at Barclays PLC upgraded shares of Cabot Oil & Gas Corp. (NYSE: COG) from Equal Weight to Overweight today. The company currently has a rating of Overweight on the stock. The one-year price target of $27.99 is higher than the opening price of $22.32, that has caused a number of other analysts to issue statements on the company recently. Looking back over the last 52 weeks, Cabot Oil & Gas Corp. stock has a high of $26.74. Stock prices often move to the upside on recommendations and new price targets of professional analysts.
Yesterday Cabot Oil & Gas Corp. (NYSE: COG) shares last traded at $22.60, a spike of $0.47 over the previous closing price. Opening at $22.32, they ranged from $22.25 and $22.64 throughout the day.
Cabot Oil & Gas Corp. (NYSE: COG) currently has a market cap of 10.51B.
Cabot Oil & Gas Corp. (NYSE: COG) Average Daily Trading Volume
716,374 shares traded hands yesterday, 22 percent below the average, out of a total float 422,565,000. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain teams of analysts that research thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
Cabot Oil & Gas Corp. (NYSE: COG) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
With that in mind, Cabot Oil & Gas Corp. (NYSE: COG) now has a 50-day MA of $22.67 and 200-day MA of $23.60. It has traded in a 52-week range between $18.38 – 26.74 and today’s last price is 15.48%% lower than the 52 week high of $26.74.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors identify companies that have raised their earnings by at least 25% over the past 3 years.
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