$458.06 Million in Sales Expected for Cabot Oil & Gas Co. (COG) This Quarter

Wall Street brokerages predict that Cabot Oil & Gas Co. (NYSE:COG) will report sales of $458.06 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Cabot Oil & Gas’ earnings. The lowest sales estimate is $414.18 million and the highest is $547.44 million. Cabot Oil & Gas posted sales of $385.42 million in the same quarter last year, which suggests a positive year-over-year growth rate of 18.8%. The business is scheduled to issue its next earnings results before the market opens on Friday, October 26th.

On average, analysts expect that Cabot Oil & Gas will report full-year sales of $1.93 billion for the current year, with estimates ranging from $1.81 billion to $2.14 billion. For the next fiscal year, analysts expect that the business will post sales of $2.37 billion, with estimates ranging from $1.81 billion to $2.53 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Cabot Oil & Gas.

Cabot Oil & Gas (NYSE:COG) last released its quarterly earnings results on Friday, July 27th. The oil and gas exploration company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). Cabot Oil & Gas had a net margin of 7.75% and a return on equity of 10.84%. The business had revenue of $453.50 million during the quarter, compared to analysts’ expectations of $384.57 million. During the same quarter last year, the business posted $0.14 earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year.

A number of equities research analysts have commented on the company. Zacks Investment Research cut Cabot Oil & Gas from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine upgraded Cabot Oil & Gas from a “sell” rating to a “hold” rating in a research note on Tuesday. Piper Jaffray Companies set a $26.00 price target on Cabot Oil & Gas and gave the company a “buy” rating in a research note on Monday, October 8th. Morgan Stanley increased their price target on Cabot Oil & Gas from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Thursday, July 12th. Finally, TD Securities assumed coverage on Cabot Oil & Gas in a research note on Thursday, July 5th. They issued a “buy” rating and a $29.00 price target for the company. Three analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the stock. Cabot Oil & Gas has an average rating of “Buy” and an average target price of $29.19.

Cabot Oil & Gas stock traded up $0.19 during midday trading on Wednesday, reaching $23.38. The company’s stock had a trading volume of 5,006,885 shares, compared to its average volume of 5,887,623. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.64 and a current ratio of 1.67. Cabot Oil & Gas has a 52-week low of $21.48 and a 52-week high of $29.57. The stock has a market cap of $9.94 billion, a PE ratio of 48.71, a price-to-earnings-growth ratio of 0.77 and a beta of 0.41.

Several large investors have recently made changes to their positions in the company. Advisors Capital Management LLC raised its position in Cabot Oil & Gas by 8.1% during the third quarter. Advisors Capital Management LLC now owns 114,461 shares of the oil and gas exploration company’s stock valued at $2,578,000 after acquiring an additional 8,536 shares in the last quarter. DNB Asset Management AS raised its position in Cabot Oil & Gas by 10.7% during the third quarter. DNB Asset Management AS now owns 61,828 shares of the oil and gas exploration company’s stock valued at $1,392,000 after acquiring an additional 6,000 shares in the last quarter. State of Alaska Department of Revenue raised its position in Cabot Oil & Gas by 5.8% during the third quarter. State of Alaska Department of Revenue now owns 195,737 shares of the oil and gas exploration company’s stock valued at $4,406,000 after acquiring an additional 10,756 shares in the last quarter. Cerebellum GP LLC raised its position in Cabot Oil & Gas by 198.9% during the third quarter. Cerebellum GP LLC now owns 7,671 shares of the oil and gas exploration company’s stock valued at $173,000 after acquiring an additional 5,105 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. raised its position in Cabot Oil & Gas by 1.1% during the third quarter. Dalton Greiner Hartman Maher & Co. now owns 467,051 shares of the oil and gas exploration company’s stock valued at $10,518,000 after acquiring an additional 5,188 shares in the last quarter. Hedge funds and other institutional investors own 94.74% of the company’s stock.

Cabot Oil & Gas Company Profile

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 172,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; and the Eagle Ford Shale with approximately 79,000 net acres in the oil window of the play located in Atascosa, Frio, and La Salle Counties, Texas.

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