Is Cabot Oil & Gas Corporation (COG) A Good Stock To Buy?

Since Cabot Oil & Gas Corporation (NYSE:COG) has witnessed falling interest from the entirety of the hedge funds we track, logic holds that there were a few hedgies who sold off their positions entirely heading into Q4. Intriguingly, Stuart J. Zimmer’s Zimmer Partners dropped the biggest investment of the “upper crust” of funds followed by Insider Monkey, comprising close to $48.3 million in stock. Jorge Paulo Lemann’s fund, 3G Capital, also cut its stock, about $25.7 million worth. These transactions are important to note, as aggregate hedge fund interest fell by 1 funds heading into Q4.

Let’s go over hedge fund activity in other stocks similar to Cabot Oil & Gas Corporation (NYSE:COG). These stocks are Agnico-Eagle Mines Limited (USA) (NYSE:AEM), Principal Financial Group Inc (NYSE:PFG), Advance Auto Parts, Inc. (NYSE:AAP), and Twitter Inc (NYSE:TWTR). All of these stocks’ market caps are closest to COG’s market cap.

As you can see these stocks had an average of 37.25 hedge funds with bullish positions and the average amount invested in these stocks was $1.12 billion. That figure was $1.79 billion in COG’s case. Advance Auto Parts, Inc. (NYSE:AAP) is the most popular stock in this table. On the other hand Principal Financial Group Inc (NYSE:PFG) is the least popular one with only 15 bullish hedge fund positions. Cabot Oil & Gas Corporation (NYSE:COG) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard AAP might be a better candidate to consider a long position.