Cabot Oil & Gas Corporation Target of Unusually Large Options Trading (COG)

Cabot Oil & Gas Corporation (NYSE:COG) saw some unusual options trading on Friday. Stock traders bought 10,328 put options on the company. This represents an increase of approximately 775% compared to the typical volume of 1,181 put options.

Cabot Oil & Gas Corporation (NYSE:COG) traded down 0.57% during midday trading on Friday, hitting $24.39. The company had a trading volume of 6,442,976 shares. Cabot Oil & Gas Corporation has a 1-year low of $20.02 and a 1-year high of $26.74. The firm’s market capitalization is $11.28 billion. The company has a 50 day moving average price of $24.86 and a 200 day moving average price of $23.66.

Cabot Oil & Gas Corporation (NYSE:COG) last posted its earnings results on Thursday, July 27th. The oil and gas exploration company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. Cabot Oil & Gas Corporation had a negative net margin of 10.95% and a positive return on equity of 4.68%. The business had revenue of $460.50 million for the quarter, compared to analyst estimates of $454.76 million. During the same quarter last year, the business earned ($0.07) earnings per share. Cabot Oil & Gas Corporation’s revenue was up 86.6% on a year-over-year basis. Equities research analysts forecast that Cabot Oil & Gas Corporation will post $0.62 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Thursday, August 10th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Tuesday, August 8th. Cabot Oil & Gas Corporation’s dividend payout ratio is presently -54.05%.

A number of research analysts have recently commented on the company. BMO Capital Markets set a $30.00 target price on Cabot Oil & Gas Corporation and gave the company a “buy” rating in a research note on Sunday, July 30th. William Blair cut Cabot Oil & Gas Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Zacks Investment Research cut Cabot Oil & Gas Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Williams Capital lowered Cabot Oil & Gas Corporation from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research report on Tuesday, July 18th. Finally, Cowen and Company set a $30.00 price objective on Cabot Oil & Gas Corporation and gave the company a “buy” rating in a research report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $29.50.

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Manhattan Co. bought a new position in shares of Cabot Oil & Gas Corporation during the first quarter worth $100,000. Westwood Holdings Group Inc. bought a new position in shares of Cabot Oil & Gas Corporation during the second quarter worth $100,000. IFP Advisors Inc raised its position in shares of Cabot Oil & Gas Corporation by 11.1% in the second quarter. IFP Advisors Inc now owns 4,569 shares of the oil and gas exploration company’s stock worth $115,000 after buying an additional 457 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Cabot Oil & Gas Corporation by 1.4% in the second quarter. Parallel Advisors LLC now owns 5,050 shares of the oil and gas exploration company’s stock worth $126,000 after buying an additional 71 shares in the last quarter. Finally, Financial Architects Inc raised its position in Cabot Oil & Gas Corporation by 24.4% in the first quarter. Financial Architects Inc now owns 5,100 shares of the oil and gas exploration company’s stock worth $122,000 after buying an additional 1,000 shares during the period. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

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About Cabot Oil & Gas Corporation

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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