Wall Street analysts expect that Cabot Oil & Gas Co. (NYSE:COG) will post $448.00 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Cabot Oil & Gas’ earnings. The lowest sales estimate is $409.80 million and the highest is $480.82 million. Cabot Oil & Gas posted sales of $316.49 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 41.6%. The company is scheduled to report its next quarterly earnings report on Friday, February 23rd.
On average, analysts expect that Cabot Oil & Gas will report full-year sales of $448.00 million for the current year, with estimates ranging from $1.75 billion to $1.80 billion. For the next year, analysts forecast that the firm will report sales of $2.15 billion per share, with estimates ranging from $1.99 billion to $2.35 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Cabot Oil & Gas.
Cabot Oil & Gas (NYSE:COG) last issued its quarterly earnings results on Friday, October 27th. The oil and gas exploration company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $385.40 million for the quarter, compared to analyst estimates of $400.85 million. Cabot Oil & Gas had a positive return on equity of 6.63% and a negative net margin of 8.80%. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) earnings per share.
In other Cabot Oil & Gas news, Director Robert Kelley purchased 2,000 shares of the stock in a transaction on Tuesday, October 31st. The shares were bought at an average cost of $27.47 per share, with a total value of $54,940.00. Following the completion of the acquisition, the director now owns 619,500 shares in the company, valued at $17,017,665. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Dan O. Dinges sold 66,610 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $27.92, for a total transaction of $1,859,751.20. Following the completion of the sale, the chairman now directly owns 2,887,018 shares in the company, valued at $80,605,542.56. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of COG. Capital World Investors boosted its stake in shares of Cabot Oil & Gas by 157.8% during the 2nd quarter. Capital World Investors now owns 27,084,300 shares of the oil and gas exploration company’s stock worth $679,274,000 after acquiring an additional 16,579,300 shares in the last quarter. PointState Capital LP boosted its stake in shares of Cabot Oil & Gas by 60.9% during the 2nd quarter. PointState Capital LP now owns 18,011,889 shares of the oil and gas exploration company’s stock worth $451,738,000 after acquiring an additional 6,818,389 shares in the last quarter. FMR LLC boosted its stake in shares of Cabot Oil & Gas by 16.5% during the 2nd quarter. FMR LLC now owns 29,661,972 shares of the oil and gas exploration company’s stock worth $743,923,000 after acquiring an additional 4,192,976 shares in the last quarter. Boston Partners purchased a new stake in shares of Cabot Oil & Gas during the 3rd quarter worth about $64,249,000. Finally, Neuberger Berman Group LLC boosted its stake in shares of Cabot Oil & Gas by 11.3% during the 2nd quarter. Neuberger Berman Group LLC now owns 20,664,730 shares of the oil and gas exploration company’s stock worth $518,271,000 after acquiring an additional 2,095,126 shares in the last quarter. 95.64% of the stock is currently owned by institutional investors and hedge funds.
Cabot Oil & Gas (NYSE:COG) opened at $27.59 on Friday. The stock has a market capitalization of $12,820.73, a price-to-earnings ratio of 72.95, a PEG ratio of 1.95 and a beta of 0.52. The company has a current ratio of 1.64, a quick ratio of 1.61 and a debt-to-equity ratio of 0.49. Cabot Oil & Gas has a 12-month low of $20.55 and a 12-month high of $29.57.
About Cabot Oil & Gas
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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