Cabot Oil & Gas Corp.’s “Neutral” Rating Reaffirmed at Zacks (COG)
Cabot Oil & Gas Corp. (NYSE:COG)‘s stock had its “neutral” rating restated by Zacks in a research report issued on Monday, AnalystRatingsNetwork.com reports. They currently have a $38.00 price target on the stock. Zacks‘ price objective points to a potential upside of 5.20% from the stock’s previous close.
Zacks‘ analyst wrote, “Cabot Oil & Gas has been one of the better performing S&P stocks of 2013, gaining almost 50% year-to-date. Most of the gain can be attributed to its exposure to the high-return Marcellus and Eagle Ford Shale plays, as well as its above-average production growth. A relatively low risk profile and longer reserve lives are other positives in the Cabot story. But given natural gas’ volatile fundamentals and Cabot’s high exposure to the commodity, we do not believe that the stock can sustain the momentum in the near future. Cabot’s steep valuation and miniscule payout also keep us worried. Considering these factors, we are maintaining our Neutral recommendation on the company’s shares. “
Cabot Oil & Gas Corp. (NYSE:COG) traded up 0.66% during mid-day trading on Monday, hitting $36.36. The stock had a trading volume of 2,725,664 shares. Cabot Oil & Gas Corp. has a 1-year low of $21.07 and a 1-year high of $40.34. The stock’s 50-day moving average is $37.32 and its 200-day moving average is $35.99. The company has a market cap of $15.297 billion and a price-to-earnings ratio of 73.71.
Cabot Oil & Gas Corp. (NYSE:COG) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.06. The company had revenue of $449.68 million for the quarter, compared to the consensus estimate of $435.32 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was up 69.3% on a year-over-year basis. Analysts expect that Cabot Oil & Gas Corp. will post $0.76 EPS for the current fiscal year.
A number of other firms have also recently commented on COG. Analysts at Robert W. Baird initiated coverage on shares of Cabot Oil & Gas Corp. in a research note to investors on Wednesday, October 16th. They set an “outperform” rating on the stock. Separately, analysts at Raymond James cut their price target on shares of Cabot Oil & Gas Corp. from $44.00 to $43.00 in a research note to investors on Monday, October 14th. They now have an “outperform” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. raised their price target on shares of Cabot Oil & Gas Corp. to $46.00 in a research note to investors on Thursday, October 10th. Eleven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Cabot Oil & Gas Corp. currently has a consensus rating of “Buy” and a consensus target price of $63.89.
Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties.
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