Canaccord Genuity Initiates Coverage on Cabot Oil & Gas Co. (COG)
Equities research analysts at Canaccord Genuity began coverage on shares of Cabot Oil & Gas Co. (NYSE:COG) in a research note issued to investors on Wednesday. The firm set a “hold” rating on the stock.
Shares of Cabot Oil & Gas Co. (NYSE:COG) traded up 1.73% during mid-day trading on Wednesday, hitting $34.68. 3,265,097 shares of the company’s stock traded hands. Cabot Oil & Gas Co. has a 52-week low of $31.79 and a 52-week high of $41.78. The stock’s 50-day moving average is $35.03 and its 200-day moving average is $36.27. The company has a market cap of $14.472 billion and a price-to-earnings ratio of 41.57.
Cabot Oil & Gas Co. (NYSE:COG) last released its earnings data on Thursday, April 24th. The company reported $0.26 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.26. The company had revenue of $509.80 million for the quarter, compared to the consensus estimate of $524.35 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 36.6% on a year-over-year basis. Analysts expect that Cabot Oil & Gas Co. will post $1.14 EPS for the current fiscal year.
COG has been the subject of a number of other recent research reports. Analysts at Morgan Stanley downgraded shares of Cabot Oil & Gas Co. from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, June 24th. They now have a $38.00 price target on the stock, down previously from $50.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Cabot Oil & Gas Co. in a research note on Thursday, June 5th. They now have a $38.00 price target on the stock. Finally, analysts at Capital One Financial Corp. downgraded shares of Cabot Oil & Gas Co. from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, May 21st. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $49.21.
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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