Cabot Oil & Gas Co. (NYSE:COG) – Investment analysts at Capital One Financial issued their Q2 2019 EPS estimates for shares of Cabot Oil & Gas in a research note issued on Tuesday, July 23rd, according to Zacks Investment Research. Capital One Financial analyst B. Velie expects that the oil and gas exploration company will earn $0.32 per share for the quarter. Capital One Financial also issued estimates for Cabot Oil & Gas’ Q3 2019 earnings at $0.40 EPS.
A number of other brokerages also recently issued reports on COG. TheStreet downgraded Cabot Oil & Gas from a “b” rating to a “c+” rating in a research note on Tuesday, July 9th. ValuEngine downgraded Cabot Oil & Gas from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 27th. Citigroup reduced their price objective on Cabot Oil & Gas from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Wells Fargo & Co upgraded Cabot Oil & Gas from a “market perform” rating to an “outperform” rating and set a $28.00 price objective for the company in a research note on Monday, July 8th. Finally, Tudor Pickering upgraded Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Cabot Oil & Gas presently has a consensus rating of “Buy” and a consensus price target of $27.83.NYSE:COG traded up $0.17 during trading on Friday, reaching $16.47. The company’s stock had a trading volume of 4,798,200 shares, compared to its average volume of 10,160,346. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 0.62 and a beta of 0.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.61 and a current ratio of 2.70. The firm has a 50 day moving average of $20.84 and a 200-day moving average of $24.26. Cabot Oil & Gas has a 12 month low of $16.01 and a 12 month high of $27.65.
Cabot Oil & Gas (NYSE:COG) last released its quarterly earnings results on Friday, July 26th. The oil and gas exploration company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The business had revenue of $534.12 million during the quarter, compared to analyst estimates of $476.10 million. Cabot Oil & Gas had a return on equity of 34.79% and a net margin of 34.51%. Cabot Oil & Gas’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 EPS.
A number of institutional investors and hedge funds have recently modified their holdings of COG. APG Asset Management N.V. lifted its holdings in Cabot Oil & Gas by 4,360.3% during the 2nd quarter. APG Asset Management N.V. now owns 7,555,800 shares of the oil and gas exploration company’s stock worth $152,337,000 after purchasing an additional 7,386,400 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in Cabot Oil & Gas by 37,033.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,314,487 shares of the oil and gas exploration company’s stock worth $99,061,000 after purchasing an additional 4,302,868 shares in the last quarter. BlackRock Inc. lifted its holdings in Cabot Oil & Gas by 12.5% during the 2nd quarter. BlackRock Inc. now owns 33,336,617 shares of the oil and gas exploration company’s stock worth $765,408,000 after purchasing an additional 3,708,150 shares in the last quarter. Norges Bank purchased a new stake in Cabot Oil & Gas during the 4th quarter worth about $76,512,000. Finally, MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in Cabot Oil & Gas during the 1st quarter worth about $63,479,000. 97.45% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Peter B. Delaney purchased 9,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was bought at an average price of $19.28 per share, for a total transaction of $173,520.00. Following the purchase, the director now owns 16,925 shares of the company’s stock, valued at $326,314. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by corporate insiders.
Cabot Oil & Gas announced that its board has authorized a stock repurchase plan on Friday, July 26th that allows the company to repurchase 25,000,000 outstanding shares. This repurchase authorization allows the oil and gas exploration company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be paid a dividend of $0.09 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.36 annualized dividend and a dividend yield of 2.19%. Cabot Oil & Gas’s payout ratio is 31.86%.
About Cabot Oil & Gas
Cabot Oil & Gas Corporation, an independent oil and gas company, explores for, exploits, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States. It primarily focuses on the Marcellus Shale with approximately 174,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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