Investors Purchase High Volume of Call Options on Cabot Oil & Gas (COG)

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Cabot Oil & Gas Co. (NYSE:COG) saw some unusual options trading activity on Wednesday. Stock traders bought 12,256 call options on the company. This represents an increase of 1,320% compared to the typical volume of 863 call options.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Motco raised its stake in Cabot Oil & Gas by 3,034.3% in the first quarter. Motco now owns 4,200 shares of the oil and gas exploration company’s stock valued at $101,000 after purchasing an additional 4,066 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Cabot Oil & Gas in the second quarter valued at approximately $123,000. Massey Quick Simon & CO. LLC raised its stake in Cabot Oil & Gas by 134.2% in the first quarter. Massey Quick Simon & CO. LLC now owns 6,850 shares of the oil and gas exploration company’s stock valued at $164,000 after purchasing an additional 3,925 shares in the last quarter. Parkwood LLC purchased a new stake in Cabot Oil & Gas in the second quarter valued at approximately $212,000. Finally, Welch & Forbes LLC purchased a new stake in Cabot Oil & Gas in the second quarter valued at approximately $214,000. 94.74% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently commented on the stock. Susquehanna Bancshares upgraded shares of Cabot Oil & Gas from a “neutral” rating to a “positive” rating and raised their price objective for the company from $27.00 to $28.00 in a research report on Monday, July 30th. Morgan Stanley raised their price objective on shares of Cabot Oil & Gas from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, July 12th. Stifel Nicolaus assumed coverage on shares of Cabot Oil & Gas in a research report on Tuesday, May 22nd. They issued a “hold” rating and a $22.00 price objective for the company. ValuEngine lowered shares of Cabot Oil & Gas from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Finally, Bank of America lowered shares of Cabot Oil & Gas from a “buy” rating to an “underperform” rating and set a $27.00 price objective for the company. in a research report on Thursday, May 10th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $29.95.

Shares of COG opened at $22.48 on Thursday. The company has a market capitalization of $10.51 billion, a P/E ratio of 41.09, a P/E/G ratio of 0.81 and a beta of 0.38. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.57. Cabot Oil & Gas has a 1-year low of $21.71 and a 1-year high of $29.57.

Cabot Oil & Gas (NYSE:COG) last announced its earnings results on Friday, July 27th. The oil and gas exploration company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). The company had revenue of $453.50 million during the quarter, compared to analysts’ expectations of $384.57 million. Cabot Oil & Gas had a net margin of 7.75% and a return on equity of 10.84%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 earnings per share. analysts anticipate that Cabot Oil & Gas will post 0.98 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 23rd. Investors of record on Thursday, August 9th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Wednesday, August 8th. Cabot Oil & Gas’s dividend payout ratio is currently 50.00%.

About Cabot Oil & Gas

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 172,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; and the Eagle Ford Shale with approximately 79,000 net acres in the oil window of the play located in Atascosa, Frio, and La Salle Counties, Texas.

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