Cabot Oil & Gas (C0G) received a “market perform” reiteration today from securities research analysts at investment firm Howard Weil. Weil also substantially increased their performance outlook for Cabot by adjusting their price target from $50 to $75 dollars. Weil noted that their large target increase was to reflect valuation of Cabot’s Marcellus acreage of Eagle Ford shale.
COG has set a new 52-week high today and has so far reached $65.76 at 2:02 P.M., Eastern. COG lumbered through 2010 trading until a new intermediate was set on November 9th, 2010. Afterward, COG has “been on a roll” ever since – so much to the point that shares have not traded beneath the 50-day moving average since November 1st, 2010, and for a large portion of time, investors have observed COG above the 10-day about half of the time since that date.
Cabot is slated to release their next earnings report on July 27th, 2011, and is estimated to post EPS of 24 cents. Their last earnings report was released on April 27th, 2011, and announced EPS of 20cents with revenue totaling $209 million which was down -3.4% year to year. COG is currently trading above its 50 & 200-day moving averages and 2011 is an up year for the company.
Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties located in the United States. The company has market capitalization of $6,854,079,870 and 104,467,000 shares outstanding. COG has a 52-week high of $63.42 with the low being $26.62 dollars.