Cabot Oil & Gas Co. (NYSE:COG) – Investment analysts at Seaport Global Securities cut their FY2017 earnings per share (EPS) estimates for Cabot Oil & Gas in a research note issued on Tuesday, Zacks Investment Research reports. Seaport Global Securities analyst M. Kelly now forecasts that the oil and gas exploration company will post earnings per share of $0.43 for the year, down from their prior forecast of $0.45. Seaport Global Securities also issued estimates for Cabot Oil & Gas’ Q4 2017 earnings at $0.07 EPS.
COG has been the topic of several other research reports. Williams Capital set a $30.00 price target on Cabot Oil & Gas and gave the company a “hold” rating in a research note on Monday, October 30th. Zacks Investment Research raised Cabot Oil & Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. Raymond James Financial lowered Cabot Oil & Gas from an “outperform” rating to a “sell” rating in a research note on Tuesday, January 2nd. Barclays upped their price target on Cabot Oil & Gas from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Finally, BMO Capital Markets set a $30.00 price target on Cabot Oil & Gas and gave the company a “buy” rating in a research note on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $30.95.
Cabot Oil & Gas (COG) traded up $0.48 during midday trading on Thursday, reaching $28.88. The company’s stock had a trading volume of 6,908,199 shares, compared to its average volume of 4,670,000. Cabot Oil & Gas has a one year low of $20.55 and a one year high of $29.57. The firm has a market capitalization of $13,360.00, a price-to-earnings ratio of -90.25, a P/E/G ratio of 0.96 and a beta of 0.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.64 and a quick ratio of 1.61.
Cabot Oil & Gas (NYSE:COG) last issued its quarterly earnings results on Friday, October 27th. The oil and gas exploration company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.01). The firm had revenue of $385.40 million for the quarter, compared to analysts’ expectations of $400.85 million. Cabot Oil & Gas had a positive return on equity of 6.63% and a negative net margin of 8.80%. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th will be issued a dividend of $0.06 per share. This is an increase from Cabot Oil & Gas’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $0.24 annualized dividend and a yield of 0.83%. Cabot Oil & Gas’s dividend payout ratio is -62.50%.
In related news, Director Robert Kelley purchased 2,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were bought at an average price of $27.47 per share, for a total transaction of $54,940.00. Following the acquisition, the director now directly owns 619,500 shares in the company, valued at $17,017,665. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Dan O. Dinges sold 66,610 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $27.92, for a total value of $1,859,751.20. Following the sale, the chairman now owns 2,887,018 shares in the company, valued at approximately $80,605,542.56. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Stifel Financial Corp increased its holdings in Cabot Oil & Gas by 127.2% during the 2nd quarter. Stifel Financial Corp now owns 44,262 shares of the oil and gas exploration company’s stock worth $1,126,000 after purchasing an additional 24,777 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Cabot Oil & Gas by 6.3% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 88,713 shares of the oil and gas exploration company’s stock valued at $2,373,000 after acquiring an additional 5,246 shares during the last quarter. Shell Asset Management Co. increased its holdings in shares of Cabot Oil & Gas by 328.6% in the 3rd quarter. Shell Asset Management Co. now owns 125,242 shares of the oil and gas exploration company’s stock valued at $4,094,000 after acquiring an additional 96,023 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Cabot Oil & Gas by 59.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 165,521 shares of the oil and gas exploration company’s stock valued at $4,151,000 after acquiring an additional 61,978 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in shares of Cabot Oil & Gas by 11.3% in the 2nd quarter. Neuberger Berman Group LLC now owns 20,664,730 shares of the oil and gas exploration company’s stock valued at $518,271,000 after acquiring an additional 2,095,126 shares during the last quarter. Institutional investors own 95.64% of the company’s stock.
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About Cabot Oil & Gas
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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