Cabot Oil & Gas Co. (COG) Expected to Post Quarterly Sales of $439.79 Million
Equities research analysts expect Cabot Oil & Gas Co. (NYSE:COG) to report sales of $439.79 million for the current quarter, according to Zacks. Six analysts have issued estimates for Cabot Oil & Gas’ earnings, with estimates ranging from $409.80 million to $474.31 million. Cabot Oil & Gas reported sales of $316.49 million during the same quarter last year, which would suggest a positive year over year growth rate of 39%. The company is expected to issue its next quarterly earnings report on Friday, February 23rd.
According to Zacks, analysts expect that Cabot Oil & Gas will report full-year sales of $439.79 million for the current year, with estimates ranging from $1.75 billion to $1.80 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.18 billion per share, with estimates ranging from $1.99 billion to $2.35 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Cabot Oil & Gas.
Cabot Oil & Gas (NYSE:COG) last released its earnings results on Friday, October 27th. The oil and gas exploration company reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.01). The firm had revenue of $385.40 million during the quarter, compared to the consensus estimate of $400.85 million. Cabot Oil & Gas had a negative net margin of 8.80% and a positive return on equity of 6.63%. The firm’s revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.04) EPS.
In related news, Director Robert Kelley acquired 2,000 shares of the stock in a transaction on Tuesday, October 31st. The stock was acquired at an average cost of $27.47 per share, for a total transaction of $54,940.00. Following the completion of the acquisition, the director now directly owns 619,500 shares of the company’s stock, valued at approximately $17,017,665. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Dan O. Dinges sold 66,610 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was 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 owns 2,887,018 shares of the company’s stock, valued at $80,605,542.56. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Capital World Investors lifted its holdings in shares of Cabot Oil & Gas by 157.8% during the second quarter. Capital World Investors now owns 27,084,300 shares of the oil and gas exploration company’s stock valued at $679,274,000 after purchasing an additional 16,579,300 shares during the last quarter. PointState Capital LP lifted its holdings in shares of Cabot Oil & Gas by 60.9% during the second quarter. PointState Capital LP now owns 18,011,889 shares of the oil and gas exploration company’s stock valued at $451,738,000 after purchasing an additional 6,818,389 shares during the last quarter. FMR LLC lifted its holdings in shares of Cabot Oil & Gas by 16.5% during the second quarter. FMR LLC now owns 29,661,972 shares of the oil and gas exploration company’s stock valued at $743,923,000 after purchasing an additional 4,192,976 shares during the last quarter. Boston Partners purchased a new position in shares of Cabot Oil & Gas during the third quarter valued at approximately $64,249,000. Finally, Sanders Capital LLC lifted its holdings in shares of Cabot Oil & Gas by 7.2% during the third quarter. Sanders Capital LLC now owns 29,212,930 shares of the oil and gas exploration company’s stock valued at $839,952,000 after purchasing an additional 1,951,907 shares during the last quarter. Institutional investors and hedge funds own 95.64% of the company’s stock.
Cabot Oil & Gas (NYSE COG) traded up $0.15 on Tuesday, reaching $28.91. The company had a trading volume of 4,200,300 shares, compared to its average volume of 4,759,080. The company has a market capitalization of $13,510.00, a PE ratio of -90.34, a PEG ratio of 0.97 and a beta of 0.53. 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 1-year low of $20.55 and a 1-year high of $29.57.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th will be issued a dividend of $0.06 per share. This is a positive change from Cabot Oil & Gas’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Tuesday, January 23rd. Cabot Oil & Gas’s dividend payout ratio is currently -62.50%.
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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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