Cabot Oil & Gas Corp. (COG) Forecasted to Post FY2016 Earnings of ($0.14) Per Share
Cabot Oil & Gas Corp. (NYSE:COG) – Equities research analysts at Capital One Financial Corp. dropped their FY2016 earnings per share (EPS) estimates for shares of 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 ($0.14) for the year, down from their previous estimate of ($0.10). Capital One Financial Corp. currently has a “Overweight” rating on the stock. Capital One Financial Corp. also issued estimates for Cabot Oil & Gas Corp.’s FY2017 earnings at $0.31 EPS.
A number of other equities research analysts have also recently commented on the stock. GMP Securities began coverage on shares of Cabot Oil & Gas Corp. in a report on Wednesday, September 28th. They issued a “buy” rating and a $39.00 price target for the company. Raymond James Financial Inc. upgraded shares of Cabot Oil & Gas Corp. from a “market perform” rating to a “strong-buy” rating and raised their price target for the stock from $25.57 to $30.00 in a report on Friday, September 23rd. Barclays PLC raised their price target on shares of Cabot Oil & Gas Corp. from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Thursday, September 1st. Stifel Nicolaus restated a “hold” rating on shares of Cabot Oil & Gas Corp. in a report on Wednesday, August 31st. Finally, Williams Capital began coverage on shares of Cabot Oil & Gas Corp. in a report on Monday, August 29th. They issued a “buy” rating and a $30.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $27.83.
Shares of Cabot Oil & Gas Corp. (NYSE:COG) traded up 0.68% on Wednesday, reaching $23.80. 1,906,645 shares of the company were exchanged. Cabot Oil & Gas Corp. has a 12-month low of $14.88 and a 12-month high of $26.74. The firm’s market capitalization is $11.07 billion. The company’s 50 day moving average is $25.15 and its 200 day moving average is $24.47.
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Cabot Oil & Gas Corp. (NYSE:COG) last announced its quarterly earnings results on Friday, July 29th. The oil and gas exploration company reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate 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 business had revenue of $246.80 million for the quarter, compared to analyst estimates of $270.13 million. During the same quarter in the prior year, the business earned $0.03 EPS. Cabot Oil & Gas Corp.’s quarterly revenue was down 19.4% on a year-over-year basis.
In other news, insider George Kevin Cunningham sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $25.25, for a total value of $75,750.00. Following the sale, the insider now owns 35,990 shares of the company’s stock, valued at $908,747.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. Sanders Capital LLC boosted its position in shares of Cabot Oil & Gas Corp. by 101.7% in the second quarter. Sanders Capital LLC now owns 12,273,055 shares of the oil and gas exploration company’s stock valued at $322,296,000 after buying an additional 6,186,892 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of Cabot Oil & Gas Corp. during the first quarter valued at approximately $2,074,000. LPL Financial LLC purchased a new position in shares of Cabot Oil & Gas Corp. during the first quarter valued at approximately $1,371,000. National Pension Service boosted its position in shares of Cabot Oil & Gas Corp. by 4.4% in the first quarter. National Pension Service now owns 306,335 shares of the oil and gas exploration company’s stock valued at $6,957,000 after buying an additional 13,017 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Cabot Oil & Gas Corp. by 77.0% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 52,395 shares of the oil and gas exploration company’s stock valued at $1,349,000 after buying an additional 22,800 shares in the last quarter. 94.93% of the stock is owned by institutional investors.
About Cabot Oil & Gas Corp.
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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