$411.04 Million in Sales Expected for Cabot Oil & Gas Corporation (COG) This Quarter

Equities analysts expect that Cabot Oil & Gas Corporation (NYSE:COG) will report sales of $411.04 million for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Cabot Oil & Gas Corporation’s earnings. The lowest sales estimate is $386.00 million and the highest is $453.50 million. Cabot Oil & Gas Corporation posted sales of $310.43 million during the same quarter last year, which suggests a positive year over year growth rate of 32.4%. The company is scheduled to report its next earnings report before the market opens on Friday, October 27th.

On average, analysts expect that Cabot Oil & Gas Corporation will report full-year sales of $411.04 million for the current year, with estimates ranging from $1.79 billion to $1.94 billion. For the next year, analysts anticipate that the business will report sales of $2.21 billion per share, with estimates ranging from $2.10 billion to $2.43 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Cabot Oil & Gas Corporation.

Cabot Oil & Gas Corporation (NYSE:COG) last released its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01). The firm had revenue of $460.50 million for the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was up 86.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) EPS.

A number of equities analysts have recently commented on COG shares. TheStreet downgraded shares of Cabot Oil & Gas Corporation from a “c” rating to a “d+” rating in a research note on Thursday, August 24th. Williams Capital set a $30.00 price target on shares of Cabot Oil & Gas Corporation and gave the stock a “hold” rating in a research note on Friday, July 28th. Scotiabank set a $30.00 target price on shares of Cabot Oil & Gas Corporation and gave the stock a “buy” rating in a research report on Tuesday, August 22nd. William Blair downgraded shares of Cabot Oil & Gas Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Finally, BMO Capital Markets dropped their target price on shares of Cabot Oil & Gas Corporation from $29.00 to $28.00 and set a “market perform” rating for the company in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Cabot Oil & Gas Corporation currently has a consensus rating of “Buy” and an average price target of $29.29.

In related news, insider Jeffrey W. Hutton sold 11,918 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $26.79, for a total value of $319,283.22. Following the sale, the insider now directly owns 635,124 shares in the company, valued at $17,014,971.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Large investors have recently modified their holdings of the company. Westwood Holdings Group Inc. purchased a new stake in Cabot Oil & Gas Corporation in the 2nd quarter valued at $100,000. IFP Advisors Inc grew its stake in shares of Cabot Oil & Gas Corporation by 11.1% during the 2nd quarter. IFP Advisors Inc now owns 4,569 shares of the oil and gas exploration company’s stock worth $115,000 after acquiring an additional 457 shares during the period. Parallel Advisors LLC grew its stake in shares of Cabot Oil & Gas Corporation by 1.4% during the 2nd quarter. Parallel Advisors LLC now owns 5,050 shares of the oil and gas exploration company’s stock worth $126,000 after acquiring an additional 71 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in shares of Cabot Oil & Gas Corporation by 83.8% during the 1st 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 acquiring an additional 3,100 shares during the period. Finally, Pinebridge Investments L.P. bought a new position in shares of Cabot Oil & Gas Corporation during the 2nd quarter worth $163,000. 96.33% of the stock is currently owned by institutional investors.

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Shares of Cabot Oil & Gas Corporation (NYSE:COG) opened at 24.65 on Friday. Cabot Oil & Gas Corporation has a 12 month low of $20.02 and a 12 month high of $27.14. The firm has a 50-day moving average price of $26.14 and a 200-day moving average price of $24.67. The stock’s market cap is $11.40 billion.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Wednesday, November 8th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.81%. The ex-dividend date is Tuesday, November 7th. Cabot Oil & Gas Corporation’s payout ratio is -54.05%.

About Cabot Oil & Gas Corporation

Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties. The Company operates in the segment of natural gas and oil development, exploitation, exploration and production, in the continental United States. Its assets are concentrated in areas with known hydrocarbon resources, which are conducive to multi-well, repeatable drilling programs.

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Earnings History and Estimates for Cabot Oil & Gas Corporation (NYSE:COG)

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