Zacks: Analysts Anticipate Cabot Oil & Gas Co. (COG) Will Post Quarterly Sales of $464.40 Million

Equities research analysts expect Cabot Oil & Gas Co. (NYSE:COG) to post sales of $464.40 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Cabot Oil & Gas’ earnings, with the lowest sales estimate coming in at $452.59 million and the highest estimate coming in at $476.80 million. Cabot Oil & Gas reported sales of $517.84 million in the same quarter last year, which indicates a negative year over year growth rate of 10.3%. The business is scheduled to report its next earnings report before the market opens on Friday, April 27th.

According to Zacks, analysts expect that Cabot Oil & Gas will report full-year sales of $464.40 million for the current financial year, with estimates ranging from $1.90 billion to $1.98 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.57 billion per share, with estimates ranging from $2.42 billion to $2.83 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Cabot Oil & Gas.

Cabot Oil & Gas (NYSE:COG) last posted its earnings results on Friday, February 23rd. The oil and gas exploration company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.04. The firm had revenue of $400.50 million during the quarter, compared to the consensus estimate of $422.12 million. Cabot Oil & Gas had a net margin of 5.69% and a return on equity of 8.60%. The company’s revenue was up 26.5% on a year-over-year basis. During the same quarter last year, the company earned $0.01 earnings per share.

COG has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Cabot Oil & Gas from a “hold” rating to a “sell” rating in a research note on Friday, March 23rd. Morgan Stanley reiterated a “sell” rating on shares of Cabot Oil & Gas in a research note on Thursday, December 14th. Williams Capital set a $30.00 target price on shares of Cabot Oil & Gas and gave the stock a “hold” rating in a research note on Thursday, December 21st. BMO Capital Markets reiterated a “buy” rating and issued a $31.00 target price on shares of Cabot Oil & Gas in a research note on Tuesday, February 27th. Finally, ValuEngine downgraded shares of Cabot Oil & Gas from a “hold” rating to a “sell” rating in a research note on Monday, February 5th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $31.21.

Institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. bought a new stake in Cabot Oil & Gas during the third quarter valued at approximately $130,000. Glenmede Trust Co. NA lifted its position in Cabot Oil & Gas by 119.3% during the fourth quarter. Glenmede Trust Co. NA now owns 5,008 shares of the oil and gas exploration company’s stock valued at $143,000 after purchasing an additional 2,724 shares during the last quarter. MHI Funds LLC bought a new stake in Cabot Oil & Gas during the fourth quarter valued at approximately $147,000. Avestar Capital LLC bought a new stake in Cabot Oil & Gas during the fourth quarter valued at approximately $151,000. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in Cabot Oil & Gas during the fourth quarter valued at approximately $186,000. Institutional investors and hedge funds own 98.49% of the company’s stock.

Shares of COG traded down $0.77 during trading hours on Tuesday, hitting $23.17. The company’s stock had a trading volume of 4,908,649 shares, compared to its average volume of 6,445,311. The company has a market capitalization of $10,676.41, a price-to-earnings ratio of 48.27, a PEG ratio of 0.81 and a beta of 0.40. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 0.48. Cabot Oil & Gas has a 52-week low of $21.40 and a 52-week high of $29.57.

Cabot Oil & Gas announced that its Board of Directors has initiated a stock repurchase plan on Friday, February 23rd that authorizes the company to buyback 30,000,000 shares. This buyback authorization authorizes the oil and gas exploration company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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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