Sanders Capital LLC Purchases 1,430,599 Shares of Cabot Oil & Gas Corporation (NYSE:COG)

Sanders Capital LLC increased its position in Cabot Oil & Gas Corporation (NYSE:COG) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,261,023 shares of the oil and gas exploration company’s stock after buying an additional 1,430,599 shares during the period. Cabot Oil & Gas Corporation accounts for 4.4% of Sanders Capital LLC’s holdings, making the stock its 8th largest position. Sanders Capital LLC owned about 5.86% of Cabot Oil & Gas Corporation worth $739,422,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of COG. First Manhattan Co. acquired a new position in shares of Cabot Oil & Gas Corporation during the first quarter valued at about $100,000. Financial Architects Inc raised its position in shares of 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 valued at $122,000 after buying an additional 1,000 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of Cabot Oil & Gas Corporation by 83.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 6,800 shares of the oil and gas exploration company’s stock valued at $163,000 after buying an additional 3,100 shares during the last quarter. Crestwood Advisors Group LLC acquired a new position in shares of Cabot Oil & Gas Corporation during the first quarter valued at about $167,000. Finally, Stephens Inc. AR raised its position in shares of Cabot Oil & Gas Corporation by 313.6% in the first quarter. Stephens Inc. AR now owns 7,578 shares of the oil and gas exploration company’s stock valued at $181,000 after buying an additional 5,746 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors.

Cabot Oil & Gas Corporation (COG) traded down 0.57% during midday trading on Friday, hitting $24.39. 6,442,976 shares of the stock traded hands. Cabot Oil & Gas Corporation has a one year low of $20.02 and a one year high of $26.74. The company has a 50-day moving average price of $24.85 and a 200 day moving average price of $23.68. The stock’s market cap is $11.28 billion.

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

The firm 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 dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Tuesday, August 8th. Cabot Oil & Gas Corporation’s dividend payout ratio is currently -54.05%.

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COG has been the topic of several research reports. BMO Capital Markets reissued a “buy” rating and set a $33.00 price objective on shares of Cabot Oil & Gas Corporation in a report on Monday, May 15th. Bank of America Corporation raised shares of Cabot Oil & Gas Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $28.00 to $32.00 in a report on Friday, June 30th. Williams Capital reissued a “buy” rating and set a $32.00 price objective on shares of Cabot Oil & Gas Corporation in a report on Friday, April 28th. Scotiabank set a $29.00 price objective on shares of Cabot Oil & Gas Corporation and gave the company a “buy” rating in a report on Saturday, April 22nd. Finally, BidaskClub raised shares of Cabot Oil & Gas Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. Cabot Oil & Gas Corporation currently has an average rating of “Buy” and a consensus target price of $29.50.

Cabot Oil & Gas Corporation Company Profile

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.

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

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