Analysts expect Cabot Oil & Gas Co. (NYSE:COG) to report sales of $573.69 million for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Cabot Oil & Gas’ earnings, with the highest sales estimate coming in at $663.84 million and the lowest estimate coming in at $531.00 million. Cabot Oil & Gas reported sales of $400.50 million in the same quarter last year, which indicates a positive year over year growth rate of 43.2%. The firm is expected to issue its next earnings report on Friday, February 22nd.
According to Zacks, analysts expect that Cabot Oil & Gas will report full year sales of $1.96 billion for the current fiscal year, with estimates ranging from $1.80 billion to $2.15 billion. For the next year, analysts anticipate that the firm will report sales of $2.34 billion, with estimates ranging from $2.23 billion to $2.49 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Cabot Oil & Gas.
Cabot Oil & Gas (NYSE:COG) last issued its quarterly earnings results on Friday, October 26th. The oil and gas exploration company reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.03). The business had revenue of $545.10 million for the quarter, compared to the consensus estimate of $482.74 million. Cabot Oil & Gas had a return on equity of 14.87% and a net margin of 12.69%. The business’s revenue was up 41.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 earnings per share.
Several brokerages have issued reports on COG. Morgan Stanley lowered Cabot Oil & Gas from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $29.00 to $23.00 in a research note on Wednesday, September 26th. UBS Group upgraded Cabot Oil & Gas from a “neutral” rating to a “positive” rating in a research note on Monday, July 30th. Wells Fargo & Co lowered Cabot Oil & Gas from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 23rd. Evercore ISI upgraded Cabot Oil & Gas from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $28.00 to $30.00 in a research note on Friday, September 7th. Finally, TheStreet upgraded Cabot Oil & Gas from a “c” rating to a “b-” rating in a research note on Friday, October 26th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. Cabot Oil & Gas currently has a consensus rating of “Hold” and a consensus price target of $28.78.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Piedmont Investment Advisors LLC purchased a new position in shares of Cabot Oil & Gas in the second quarter valued at $123,000. Cerebellum GP LLC grew its position in Cabot Oil & Gas by 198.9% during the third quarter. Cerebellum GP LLC now owns 7,671 shares of the oil and gas exploration company’s stock worth $173,000 after buying an additional 5,105 shares in the last quarter. Avestar Capital LLC grew its position in Cabot Oil & Gas by 40.6% during the third quarter. Avestar Capital LLC now owns 10,124 shares of the oil and gas exploration company’s stock worth $209,000 after buying an additional 2,924 shares in the last quarter. Parkwood LLC purchased a new position in Cabot Oil & Gas during the second quarter worth about $212,000. Finally, Welch & Forbes LLC purchased a new position in Cabot Oil & Gas during the second quarter worth about $214,000. Institutional investors own 96.03% of the company’s stock.
Cabot Oil & Gas stock traded up $0.38 during mid-day trading on Friday, reaching $25.61. 7,597,912 shares of the company’s stock were exchanged, compared to its average volume of 7,934,987. The firm has a market capitalization of $10.98 billion, a P/E ratio of 53.35, a price-to-earnings-growth ratio of 0.82 and a beta of 0.27. Cabot Oil & Gas has a one year low of $20.94 and a one year high of $29.57. The company has a current ratio of 1.69, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Wednesday, November 7th will be given a $0.07 dividend. The ex-dividend date is Tuesday, November 6th. This is a boost from Cabot Oil & Gas’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 1.09%. Cabot Oil & Gas’s payout ratio is 58.33%.
About Cabot Oil & Gas
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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