Traders Purchase High Volume of Put Options on Cabot Oil & Gas Co. (COG)
Shares of Cabot Oil & Gas Co. (NYSE:COG) were the target of some unusual options trading activity on Wednesday. Investors bought 6,034 put options on the company, StockRatingsNetwork reports. This is an increase of 286% compared to the typical volume of 1,562 put options.
A number of research firms have recently commented on COG. Analysts at Oppenheimer downgraded shares of Cabot Oil & Gas Co. from an “outperform” rating to a “market perform” rating in a research note on Monday, July 28th. They now have a $45.00 price target on the stock. Separately, analysts at Canaccord Genuity reiterated a “hold” rating on shares of Cabot Oil & Gas Co. in a research note on Friday, July 25th. They now have a $38.00 price target on the stock, up previously from $37.00. Finally, analysts at Robert W. Baird downgraded shares of Cabot Oil & Gas Co. from an “outperform” rating to a “neutral” rating in a research note on Friday, July 25th. They now have a $43.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $43.16.
Cabot Oil & Gas Co. (NYSE:COG) traded up 1.09% during mid-day trading on Wednesday, hitting $33.35. 4,313,277 shares of the company’s stock traded hands. Cabot Oil & Gas Co. has a one year low of $31.79 and a one year high of $41.78. The stock’s 50-day moving average is $33.69 and its 200-day moving average is $35.37. The company has a market cap of $13.917 billion and a P/E ratio of 37.11.
Cabot Oil & Gas Co. (NYSE:COG) last announced its earnings results on Thursday, July 24th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. The company had revenue of $533.19 million for the quarter, compared to the consensus estimate of $526.03 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. On average, analysts predict that Cabot Oil & Gas Co. will post $1.14 earnings per share for the current fiscal year.
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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