Deutsche Bank Lowers Cabot Oil & Gas Co. to Hold (COG)
Cabot Oil & Gas Co. (NYSE:COG) was downgraded by research analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a report released on Friday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. 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. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $43.33.
Shares of Cabot Oil & Gas Co. (NYSE:COG) opened at 33.50 on Friday. 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 $33.60 and its 200-day moving average is $35.31. The company has a market cap of $13.979 billion and a P/E ratio of 37.51. Cabot Oil & Gas Co. also saw some unusual options trading on Wednesday. Stock investors bought 6,034 put options on the company. This is an increase of 286% compared to the average volume of 1,562 put options.
Cabot Oil & Gas Co. (NYSE:COG) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.28 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.45 earnings per share. Cabot Oil & Gas Co.’s revenue was up 18.6% compared to the same quarter last year. 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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