Cabot Oil & Gas Co. (COG) Expected to Post Quarterly Sales of $430.39 Million

Wall Street brokerages expect that Cabot Oil & Gas Co. (NYSE:COG) will report $430.39 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Cabot Oil & Gas’ earnings. The lowest sales estimate is $412.20 million and the highest is $445.18 million. Cabot Oil & Gas reported sales of $316.49 million during the same quarter last year, which indicates a positive year over year growth rate of 36%. The business is expected to announce its next earnings report before the market opens on Friday, February 23rd.

On average, analysts expect that Cabot Oil & Gas will report full year sales of $430.39 million for the current fiscal year, with estimates ranging from $1.72 billion to $1.80 billion. For the next financial year, analysts forecast that the business will report sales of $2.20 billion per share, with estimates ranging from $2.11 billion to $2.24 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow Cabot Oil & Gas.

COG has been the subject of a number of analyst reports. Morgan Stanley set a $33.00 price target on Cabot Oil & Gas and gave the company a “buy” rating in a research report on Wednesday, October 18th. Cowen set a $30.00 price target on Cabot Oil & Gas and gave the company a “buy” rating in a research report on Wednesday, October 18th. Scotiabank set a $32.00 price target on Cabot Oil & Gas and gave the company a “buy” rating in a research report on Saturday, October 21st. Zacks Investment Research raised Cabot Oil & Gas from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Finally, Williams Capital set a $30.00 price target on Cabot Oil & Gas and gave the company a “hold” rating in a research report on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $31.53.

Cabot Oil & Gas (NYSE:COG) opened at $23.64 on Monday. The firm has a market capitalization of $10,933.70, a P/E ratio of -76.26, a PEG ratio of 0.63 and a beta of 0.39. Cabot Oil & Gas has a 12-month low of $21.40 and a 12-month high of $29.57. The company has a current ratio of 1.64, a quick ratio of 1.61 and a debt-to-equity ratio of 0.49.

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th were paid a dividend of $0.06 per share. This is an increase from Cabot Oil & Gas’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, January 23rd. This represents a $0.24 annualized dividend and a dividend yield of 1.02%. Cabot Oil & Gas’s dividend payout ratio is presently -77.42%.

Hedge funds have recently bought and sold shares of the company. Stifel Financial Corp lifted its holdings in Cabot Oil & Gas by 127.2% during the 2nd quarter. Stifel Financial Corp now owns 44,262 shares of the oil and gas exploration company’s stock worth $1,126,000 after purchasing an additional 24,777 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Cabot Oil & Gas by 6.3% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 88,713 shares of the oil and gas exploration company’s stock worth $2,373,000 after purchasing an additional 5,246 shares in the last quarter. Shell Asset Management Co. lifted its holdings in Cabot Oil & Gas by 328.6% during the 3rd quarter. Shell Asset Management Co. now owns 125,242 shares of the oil and gas exploration company’s stock worth $4,094,000 after purchasing an additional 96,023 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in Cabot Oil & Gas by 63.0% during the 3rd quarter. Great West Life Assurance Co. Can now owns 535,560 shares of the oil and gas exploration company’s stock worth $14,330,000 after purchasing an additional 207,011 shares in the last quarter. Finally, Tredje AP fonden purchased a new stake in Cabot Oil & Gas during the 3rd quarter worth about $1,030,000. Institutional investors own 97.01% of the company’s stock.

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Cabot Oil & Gas 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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