Cabot Oil & Gas (NYSE:COG) had its price objective reduced by stock analysts at Morgan Stanley from $32.00 to $28.00 in a research note issued on Thursday. The brokerage currently has a “buy” rating on the oil and gas exploration company’s stock. Morgan Stanley’s price target suggests a potential upside of 24.44% from the company’s current price.
A number of other research firms also recently commented on COG. Zacks Investment Research upgraded shares of Cabot Oil & Gas from a “hold” rating to a “strong-buy” rating and set a $33.00 target price on the stock in a report on Wednesday, January 24th. Piper Jaffray Companies set a $36.00 target price on shares of Cabot Oil & Gas and gave the stock a “buy” rating in a research report on Wednesday, March 14th. UBS began coverage on shares of Cabot Oil & Gas in a research report on Wednesday, March 7th. They issued a “neutral” rating and a $28.00 target price on the stock. BMO Capital Markets reissued a “buy” rating and issued a $31.00 target price on shares of Cabot Oil & Gas in a research report on Tuesday, February 27th. Finally, Jefferies Group reissued a “hold” rating and issued a $25.00 target price on shares of Cabot Oil & Gas in a research report on Monday, March 19th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $29.90.
Cabot Oil & Gas opened at $22.50 on Thursday, according to MarketBeat. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.40 and a current ratio of 2.42. Cabot Oil & Gas has a 12 month low of $21.40 and a 12 month high of $29.57. The company has a market capitalization of $10.10 billion, a P/E ratio of 37.93, a price-to-earnings-growth ratio of 0.73 and a beta of 0.40.
Cabot Oil & Gas (NYSE:COG) last released its earnings results on Friday, April 27th. The oil and gas exploration company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Cabot Oil & Gas had a net margin of 6.51% and a return on equity of 10.56%. The business had revenue of $473.20 million for the quarter, compared to the consensus estimate of $471.25 million. During the same period in the previous year, the firm earned $0.19 EPS. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. research analysts expect that Cabot Oil & Gas will post 1.02 EPS for the current fiscal year.
Cabot Oil & Gas declared that its Board of Directors has approved a share buyback plan on Friday, February 23rd that authorizes the company to buyback 30,000,000 outstanding shares. This buyback authorization authorizes the oil and gas exploration company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
A number of institutional investors and hedge funds have recently made changes to their positions in COG. Luminus Management LLC purchased a new position in Cabot Oil & Gas during the fourth quarter valued at approximately $135,232,000. Millennium Management LLC grew its position in Cabot Oil & Gas by 538.3% during the first quarter. Millennium Management LLC now owns 4,961,299 shares of the oil and gas exploration company’s stock valued at $118,972,000 after purchasing an additional 4,184,071 shares in the last quarter. Bank of New York Mellon Corp grew its position in Cabot Oil & Gas by 66.9% during the fourth quarter. Bank of New York Mellon Corp now owns 7,019,410 shares of the oil and gas exploration company’s stock valued at $200,757,000 after purchasing an additional 2,813,273 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in Cabot Oil & Gas during the first quarter valued at approximately $52,951,000. Finally, Element Capital Management LLC purchased a new position in Cabot Oil & Gas during the fourth quarter valued at approximately $61,284,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.
Cabot Oil & Gas Company Profile
Cabot Oil & Gas Corporation, an independent oil and gas company, explores for, exploits, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States. It primarily focuses on the Marcellus Shale with approximately 172,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; and the Eagle Ford Shale with approximately 79,000 net acres in the oil window of the play located in Atascosa, Frio, and La Salle Counties, Texas.
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