Cabot Oil & Gas Corp. Rating Reiterated by Robert W. Baird (COG)
Cabot Oil & Gas Corp. (NYSE:COG)‘s stock had its “outperform” rating restated by equities research analysts at Robert W. Baird in a research note issued to investors on Monday, Stock Ratings News reports. They currently have a $48.00 price objective on the stock, up from their previous price objective of $43.00. Robert W. Baird’s price objective suggests a potential upside of 29.80% from the stock’s previous close.
The analysts wrote, “Following COG’s 3Q13 release, we reiterate our Outperform rating and raise our price target to $48 from $43 to reflect changes to our RNAV and estimates. We continue to be impressed by COG’s ability to deliver improving recoveries in the Marcellus and expect top-quartile production growth and IRRs for several years to come. Additionally, we believe Appalachian differentials will improve in the colder months and see the recent relative weakness in the stock as an attractive buying opportunity.”
Cabot Oil & Gas Corp. (NYSE:COG) traded down 0.86% during mid-day trading on Monday, hitting $36.663. 1,757,740 shares of the company’s stock traded hands. Cabot Oil & Gas Corp. has a one year low of $20.225 and a one year high of $39.97. The stock’s 50-day moving average is $38.3 and its 200-day moving average is $35.31. The company has a market cap of $15.435 billion and a P/E ratio of 64.76.
Cabot Oil & Gas Corp. (NYSE:COG) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by $0.01. The company had revenue of $435.85 million for the quarter, compared to the consensus estimate of $450.81 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up 46.8% on a year-over-year basis. On average, analysts predict that Cabot Oil & Gas Corp. will post $0.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, November 19th. Investors of record on Thursday, November 7th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.22%. The ex-dividend date is Tuesday, November 5th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. raised their price target on shares of Cabot Oil & Gas Corp. from $40.00 to $45.00 in a research note to investors on Monday. Separately, analysts at Stifel Nicolaus raised their price target on shares of Cabot Oil & Gas Corp. from $42.50 to $45.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at UBS AG raised their price target on shares of Cabot Oil & Gas Corp. from $36.00 to $38.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Twelve analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $56.50.
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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