Cabot Oil & Gas Corporation (COG) Position Lowered by Nippon Life Insurance Co.

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Nippon Life Insurance Co. reduced its position in shares of Cabot Oil & Gas Corporation (NYSE:COG) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,051 shares of the oil and gas exploration company’s stock after selling 455 shares during the period. Nippon Life Insurance Co.’s holdings in Cabot Oil & Gas Corporation were worth $854,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Manhattan Co. acquired a new position in Cabot Oil & Gas Corporation during the first quarter worth approximately $100,000. IFP Advisors Inc increased its position in 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 during the last quarter. Financial Architects Inc increased 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 last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in 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 worth $163,000 after buying an additional 3,100 shares during the last quarter. Finally, Stephens Inc. AR increased its position in 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 worth $181,000 after buying an additional 5,746 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Cabot Oil & Gas Corporation (NYSE:COG) opened at 24.98 on Wednesday. The stock’s market capitalization is $11.55 billion. The company has a 50-day moving average price of $24.83 and a 200 day moving average price of $23.74. Cabot Oil & Gas Corporation has a 1-year low of $20.02 and a 1-year high of $26.74.

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 analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $460.50 million during the quarter, compared to analyst estimates of $454.76 million. Cabot Oil & Gas Corporation had a negative net margin of 10.95% and a positive return on equity of 4.68%. The business’s revenue for the quarter was up 86.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.07) EPS. On average, equities analysts predict that Cabot Oil & Gas Corporation will post $0.61 EPS for the current 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 issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Tuesday, August 8th. Cabot Oil & Gas Corporation’s dividend payout ratio is currently -54.05%.

A number of research analysts have recently commented on COG shares. Williams Capital reiterated a “buy” rating and issued a $32.00 price objective on shares of Cabot Oil & Gas Corporation in a report on Friday, April 28th. BidaskClub raised Cabot Oil & Gas Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Scotiabank set a $28.00 target price on Cabot Oil & Gas Corporation and gave the company a “buy” rating in a research report on Saturday, July 1st. Bank of America Corporation raised Cabot Oil & Gas Corporation from a “neutral” rating to a “buy” rating and upped their target price for the company from $28.00 to $32.00 in a research report on Friday, June 30th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $33.00 target price on shares of Cabot Oil & Gas Corporation in a research report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company’s stock. Cabot Oil & Gas Corporation has an average rating of “Buy” and a consensus target price of $29.61.​

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