Cabot Oil & Gas (NYSE:COG) had its target price reduced by Morgan Stanley from $33.00 to $31.00 in a report published on Friday morning. They currently have an overweight rating on the oil and gas exploration company’s stock.
COG has been the subject of several other reports. Williams Capital set a $30.00 price target on shares of Cabot Oil & Gas and gave the company a hold rating in a research note on Friday, February 23rd. Zacks Investment Research downgraded shares of Cabot Oil & Gas from a hold rating to a sell rating in a research note on Friday, March 23rd. Susquehanna Bancshares reaffirmed a neutral rating and issued a $32.00 price target on shares of Cabot Oil & Gas in a research note on Wednesday, January 17th. Raymond James downgraded shares of Cabot Oil & Gas from an outperform rating to a sell rating in a research note on Tuesday, January 2nd. Finally, UBS assumed coverage on shares of Cabot Oil & Gas in a research report on Wednesday, March 7th. They set a neutral rating and a $28.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $30.80.
COG traded down $0.48 during midday trading on Friday, hitting $23.08. The company had a trading volume of 5,764,323 shares, compared to its average volume of 5,590,599. Cabot Oil & Gas has a 52 week low of $21.40 and a 52 week high of $29.57. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.48. The company has a market cap of $10,856.12, a P/E ratio of 48.08, a price-to-earnings-growth ratio of 0.82 and a beta of 0.40.
Cabot Oil & Gas (NYSE:COG) last posted its quarterly earnings results on Friday, February 23rd. The oil and gas exploration company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.04. Cabot Oil & Gas had a net margin of 5.69% and a return on equity of 8.60%. The firm had revenue of $400.50 million during the quarter, compared to the consensus estimate of $422.12 million. During the same period in the previous year, the firm posted $0.01 earnings per share. The business’s revenue was up 26.5% compared to the same quarter last year. research analysts forecast that Cabot Oil & Gas will post 0.96 EPS for the current fiscal year.
Cabot Oil & Gas declared that its board has authorized a stock repurchase program on Friday, February 23rd that permits the company to buyback 30,000,000 outstanding shares. This buyback authorization permits the oil and gas exploration company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
A number of institutional investors have recently added to or reduced their stakes in COG. Glenmede Trust Co. NA boosted its holdings in Cabot Oil & Gas by 119.3% during the fourth quarter. Glenmede Trust Co. NA now owns 5,008 shares of the oil and gas exploration company’s stock worth $143,000 after purchasing an additional 2,724 shares during the last quarter. MHI Funds LLC purchased a new position in Cabot Oil & Gas during the fourth quarter worth about $147,000. Avestar Capital LLC purchased a new position in Cabot Oil & Gas during the fourth quarter worth about $151,000. Fuller & Thaler Asset Management Inc. purchased a new position in Cabot Oil & Gas during the fourth quarter worth about $186,000. Finally, Calamos Advisors LLC purchased a new position in Cabot Oil & Gas during the fourth quarter worth about $202,000. Institutional investors and hedge funds own 98.51% of the company’s stock.
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Cabot Oil & Gas Company Profile
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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