Cabot Oil & Gas Co. (NYSE:COG) – Investment analysts at Jefferies Group reduced their FY2017 earnings per share (EPS) estimates for shares of Cabot Oil & Gas in a note issued to investors on Wednesday, Zacks Investment Research reports. Jefferies Group analyst Z. Parham now expects that the oil and gas exploration company will post earnings of $0.46 per share for the year, down from their previous forecast of $0.51. Jefferies Group also issued estimates for Cabot Oil & Gas’ Q4 2017 earnings at $0.10 EPS, Q1 2018 earnings at $0.23 EPS, Q2 2018 earnings at $0.22 EPS, Q3 2018 earnings at $0.25 EPS, Q4 2018 earnings at $0.39 EPS and FY2018 earnings at $1.06 EPS.
Cabot Oil & Gas (NYSE:COG) last posted its quarterly 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). Cabot Oil & Gas had a positive return on equity of 6.63% and a negative net margin of 8.80%. The business had revenue of $385.40 million during the quarter, compared to analysts’ expectations of $400.85 million. During the same period in the prior year, the firm posted ($0.04) earnings per share. The firm’s revenue for the quarter was up 24.2% on a year-over-year basis.
A number of other research analysts have also recently commented on the company. Zacks Investment Research cut Cabot Oil & Gas from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 4th. Raymond James Financial downgraded Cabot Oil & Gas from an “outperform” rating to a “sell” rating in a research note on Tuesday, January 2nd. Piper Jaffray Companies set a $37.00 price objective on Cabot Oil & Gas and gave the stock a “buy” rating in a research note on Thursday, December 21st. Williams Capital set a $30.00 price objective on Cabot Oil & Gas and gave the stock a “hold” rating in a research note on Thursday, December 21st. Finally, Morgan Stanley reaffirmed a “sell” rating on shares of Cabot Oil & Gas in a research note on Thursday, December 14th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $30.95.
Cabot Oil & Gas (COG) traded up $0.48 during midday trading on Friday, reaching $28.88. The company had a trading volume of 6,908,199 shares, compared to its average volume of 4,670,000. 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 one year low of $20.55 and a one year high of $29.57. The stock has a market cap of $13,360.00, a PE ratio of -90.25, a PEG ratio of 0.96 and a beta of 0.53.
Institutional investors have recently made changes to their positions in the business. Westwood Holdings Group Inc. bought a new position in Cabot Oil & Gas in the 2nd quarter valued at $100,000. IFP Advisors Inc grew its position in Cabot Oil & Gas by 11.1% in the 2nd quarter. IFP Advisors Inc now owns 4,569 shares of the oil and gas exploration company’s stock valued at $115,000 after acquiring an additional 457 shares during the last quarter. Advisors Asset Management Inc. bought a new position in Cabot Oil & Gas in the 3rd quarter valued at $130,000. Parallel Advisors LLC grew its position in Cabot Oil & Gas by 1.4% in the 2nd quarter. Parallel Advisors LLC now owns 5,050 shares of the oil and gas exploration company’s stock valued at $126,000 after acquiring an additional 71 shares during the last quarter. Finally, Pinebridge Investments L.P. bought a new position in Cabot Oil & Gas in the 2nd quarter valued at $163,000. 95.64% of the stock is currently owned by institutional investors.
In other Cabot Oil & Gas news, Director Robert Kelley acquired 2,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were bought at an average price of $27.47 per share, with a total value of $54,940.00. Following the transaction, 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 at the SEC website. 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 value of $1,859,751.20. Following the completion of the transaction, the chairman now directly owns 2,887,018 shares in the company, valued at approximately $80,605,542.56. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $0.24 annualized dividend and a dividend yield of 0.83%. This is an increase from Cabot Oil & Gas’s previous quarterly dividend of $0.05. Cabot Oil & Gas’s payout ratio is currently -62.50%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cabot Oil & Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot Oil & Gas and related companies with MarketBeat.com's FREE daily email newsletter.