Cabot Oil & Gas Co. Stock Rating Reaffirmed by Zacks (COG)
Cabot Oil & Gas Co. (NYSE:COG)‘s stock had its “neutral” rating restated by Zacks in a note issued to investors on Friday. They currently have a $35.00 price objective on the stock. Zacks‘s price objective points to a potential upside of 4.48% from the company’s current price.
Zacks’ analyst wrote, “Cabot Oil & Gas was one of the better performing S&P stocks of 2013, gaining around 50% for the year. 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 Co. (NYSE:COG) traded down 1.48% on Friday, hitting $33.005. The stock had a trading volume of 3,204,903 shares. Cabot Oil & Gas Co. has a 52-week low of $31.79 and a 52-week high of $41.78. The stock has a 50-day moving average of $33.60 and a 200-day moving average of $35.31. The company has a market cap of $13.773 billion and a P/E ratio of 37.68. Cabot Oil & Gas Co. also saw unusually large options trading activity on Wednesday. Stock investors purchased 6,034 put options on the stock. This represents an increase of approximately 286% compared to the typical daily volume of 1,562 put options.
Cabot Oil & Gas Co. (NYSE:COG) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 18.6% on a year-over-year basis. Analysts expect that Cabot Oil & Gas Co. will post $1.14 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at S&P Equity Research raised their price target on shares of Cabot Oil & Gas Co. from $0.31 to $0.67 in a research note on Friday. They now have an “average” rating on the stock. Separately, analysts at Deutsche Bank downgraded shares of Cabot Oil & Gas Co. from a “buy” rating to a “hold” rating in a research note on Friday. They now have a $38.00 price target on the stock. Finally, 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. Fourteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $40.65.
Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties.
To view Zacks’ full report, visit Zacks’ official website.
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