What should I do if I encounter a bobcat?

Ive recently moved to AZ a month ago and own a Labrador retriever. I walk her twice a day, morning and evening and in the last month I've run into a bobcat on 3 occasions! It startles me every time. I know I outweigh it but my dog might be a more likely treat to this critter. It came within 20ft of me last time and stopped and watched behind a fence as me and my dog slowing walked by. The other 2 times it was running across the street, I don't think it saw me as I was further away. The area is full of wild cottontail bunnies which I'm sure is why its made a home of my neighborhood. Is this something I should be weary of and can we both continue to co-habitat here safely?