Why Has JP Morgan Given Cabot Oil & Gas (NYSE:COG) a $20.00 Price Target
Investment analysts at JP Morgan initiated coverage on shares of Cabot Oil & Gas (NYSE:COG) in a note shared with investors on Wednesday, 9 December. The brokerage set Neutral rating on the stock. JP Morgan’s target price per share of $20.00 suggests potential of 13.90% from the stock’s last stock close.
From a total of 28 analysts covering Cabot Oil & Gas (NYSE:COG) stock, 17 rate it a ”Buy”, 0 a “Sell”, and 18 a ”Hold”. This means that 49% of the ratings are positive. The highest target price is $38 while the lowest target price is $20. The mean of all analyst targets is $28.61 with a 63.27% above today’s ($17.56) stock price. Cabot Oil & Gas was the topic of 21 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Howard Weil maintained shares on October 27 with “Sector Perform” rating. Citigroup maintained COG stock in a recent report from September 14 with “Neutral” rating.
The stock closed the day at $17.56 during the previous session. It is down 48.53% since May 6, 2015 and is downtrending. It has underperformed by 47.74% the S&P500.
The overall sentiment of institutions has decreased to 0.92 in Q2 2015. Its down 0.18, from 1.1 in 2015Q2. The ratio worsened, as 72 institutions have sold all the shares of Cabot Oil & Gas Corporation that they owned while 148 funds have taken shares off the table. 55 funds have purchased shares for the first time while 148 added to their positions. These institutions now hold 403.22 million shares or 0.91% less than the 406.90 million shares they owned in 2015Q2.
The Fund Cabot currently is holding shares equating to 12.66% of its total portfolio in Cabot Oil & Gas Corporation representing a total of 962,283 shares. Another fund,Bocage Capital Llc, is holding a total of 621,743 shares equating to 8.08% of their holdings. Additionally, Sailingstone Capital Partners Llc has a 10.98 million share stake in Cabot Oil & Gas Corporation which represents 7.39% of their total portfolio. The Fund, Vr Advisory Services Ltd, based out of Cayman Islands, has also built up a stake in the stock, which represents a total of 5.41% of their total portfolio. Finally Cambrian Capital Limited Partnership, a fund which is based in the state of California reported a total holdings of 362,604 shares.
Insider activity is a very important aspect to track on any stock. Going back to August 5, 2015, shareholders of Cabot Oil & Gas Corporation have witnessed 0 insider purchases, and a total of 2 sales equating to a net activity of approximately $261,553 . Cunningham George Kevin sold 3,623 shares worth approximately $81,047.
Cabot Oil & Gas Corporation is an independent gas and oil firm engaged in the development, exploitation and exploration of gas and oil properties. The company has a market cap of $7.27 billion. The Company’s exploration, development and production activities are primarily concentrated in two plays: the Marcellus Shale in northeast Pennsylvania and the Eagle Ford Shale in south Texas. It currently has negative earnings. The Company’s Marcellus Shale properties are principally located in Susquehanna County and to a lesser extent Wyoming County, Pennsylvania.
According to Zacks Investment Research, “Cabot Oil & Gas Corp. is an independent oil and gas company engaged in the exploration, development, acquisition and exploitation of oil and gas properties located in four areas of the United States: the onshore Texas and Louisiana Gulf Coast; the Rocky Mountains; Appalachia; and the Mid-Continent or Anadarko Basin.” Get a free copy of the Zacks research report on Cabot Oil & Gas Corporation (COG).