Capital One Financial Corp. Equities Analysts Cut Earnings Estimates for Cabot Oil & Gas Corp. (COG)
Cabot Oil & Gas Corp. (NYSE:COG) – Stock analysts at Capital One Financial Corp. dropped their Q3 2016 earnings per share estimates for Cabot Oil & Gas Corp. in a research note issued on Monday. Capital One Financial Corp. analyst B. Velie now anticipates that the brokerage will post earnings per share of ($0.01) for the quarter, down from their previous estimate of $0.02. Capital One Financial Corp. currently has a “Overweight” rating on the stock.
Several other equities research analysts have also commented on the company. GMP Securities assumed coverage on Cabot Oil & Gas Corp. in a research report on Wednesday, September 28th. They issued a “buy” rating and a $39.00 price objective on the stock. Raymond James Financial Inc. upgraded Cabot Oil & Gas Corp. from a “market perform” rating to a “strong-buy” rating and increased their target price for the company from $25.57 to $30.00 in a research report on Friday, September 23rd. Barclays PLC increased their target price on Cabot Oil & Gas Corp. from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Thursday, September 1st. Stifel Nicolaus reiterated a “hold” rating on shares of Cabot Oil & Gas Corp. in a research report on Wednesday, August 31st. Finally, Williams Capital initiated coverage on Cabot Oil & Gas Corp. in a research report on Monday, August 29th. They set a “buy” rating and a $30.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $27.83.
Cabot Oil & Gas Corp. (NYSE:COG) traded down 1.66% during midday trading on Tuesday, reaching $23.76. 2,363,950 shares of the company’s stock were exchanged. The firm’s market capitalization is $11.05 billion. The firm’s 50 day moving average is $25.21 and its 200 day moving average is $24.47. Cabot Oil & Gas Corp. has a 52 week low of $14.88 and a 52 week high of $26.74.
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Cabot Oil & Gas Corp. (NYSE:COG) last released its earnings results on Friday, July 29th. The oil and gas exploration company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. Cabot Oil & Gas Corp. had a negative net margin of 21.59% and a negative return on equity of 4.16%. The company had revenue of $246.80 million for the quarter, compared to analysts’ expectations of $270.13 million. During the same quarter last year, the business earned $0.03 EPS. The firm’s revenue was down 19.4% compared to the same quarter last year.
Several institutional investors have recently made changes to their positions in COG. Financial Architects Inc bought a new position in shares of Cabot Oil & Gas Corp. during the second quarter valued at about $106,000. BlueMountain Capital Management LLC bought a new position in shares of Cabot Oil & Gas Corp. during the first quarter valued at about $124,000. Advisor Group Inc. bought a new position in shares of Cabot Oil & Gas Corp. during the second quarter valued at about $153,000. Mizuho Asset Management Co. Ltd. boosted its position in shares of Cabot Oil & Gas Corp. by 96.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 6,202 shares of the oil and gas exploration company’s stock valued at $160,000 after buying an additional 3,042 shares during the last quarter. Finally, Hartwell J M Limited Partnership bought a new position in shares of Cabot Oil & Gas Corp. during the second quarter valued at about $206,000. Institutional investors and hedge funds own 94.93% of the company’s stock.
In related news, insider George Kevin Cunningham sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $25.25, for a total transaction of $75,750.00. Following the completion of the transaction, the insider now directly owns 35,990 shares in the company, valued at approximately $908,747.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.
Cabot Oil & Gas Corp. Company Profile
Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties. The Company operates in the segment of natural gas and oil development, exploitation, exploration and production, in the continental United States. Its assets are concentrated in areas with known hydrocarbon resources, which are conducive to multi-well, repeatable drilling programs.
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