GMP Securities initiated coverage on shares of Cabot Oil & Gas Corp. (NYSE:COG) in a research note published on Wednesday. The brokerage issued a buy rating and a $39.00 price objective on the oil and gas exploration company’s stock.
Other analysts have also recently issued research reports about the stock. Barclays PLC boosted their target price on shares of Cabot Oil & Gas Corp. from $22.00 to $23.00 and gave the stock an equal weight rating in a research note on Thursday, September 1st. Capital One Financial Corp. reissued an equal weight rating on shares of Cabot Oil & Gas Corp. in a research note on Thursday, July 21st. Howard Weil raised shares of Cabot Oil & Gas Corp. from a sector perform rating to a sector outperform rating and set a $30.00 target price for the company in a research note on Thursday, August 11th. Zacks Investment Research cut shares of Cabot Oil & Gas Corp. from a buy rating to a hold rating in a research note on Friday, August 5th. Finally, Stifel Nicolaus reaffirmed a hold rating on shares of Cabot Oil & Gas Corp. in a research note on Wednesday, August 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Cabot Oil & Gas Corp. presently has an average rating of Buy and a consensus target price of $27.83.
Shares of Cabot Oil & Gas Corp. (NYSE:COG) traded up 0.804% during mid-day trading on Wednesday, reaching $25.695. 1,394,242 shares of the company’s stock traded hands. The company’s 50-day moving average price is $25.18 and its 200-day moving average price is $24.28. Cabot Oil & Gas Corp. has a 12-month low of $14.88 and a 12-month high of $26.74. The stock’s market capitalization is $11.95 billion.
Cabot Oil & Gas Corp. (NYSE:COG) last released its earnings results on Friday, July 29th. The oil and gas exploration company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The business earned $246.80 million during the quarter, compared to analysts’ expectations of $270.13 million. Cabot Oil & Gas Corp. had a negative net margin of 21.59% and a negative return on equity of 4.16%. The company’s quarterly revenue was down 19.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 earnings per share. Analysts anticipate that Cabot Oil & Gas Corp. will post ($0.15) earnings per share for the current year.
In related news, insider George Kevin Cunningham sold 3,000 shares of the stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $25.25, for a total value of $75,750.00. Following the transaction, the insider now directly owns 35,990 shares of the company’s stock, valued at approximately $908,747.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of COG. Financial Architects Inc bought a new position in Cabot Oil & Gas Corp. during the second quarter worth approximately $106,000. BlueMountain Capital Management LLC bought a new position in Cabot Oil & Gas Corp. during the first quarter worth approximately $124,000. Advisor Group Inc. bought a new position in Cabot Oil & Gas Corp. during the second quarter worth approximately $153,000. Mizuho Asset Management Co. Ltd. increased its position in Cabot Oil & Gas Corp. by 96.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 6,202 shares of the oil and gas exploration company’s stock worth $160,000 after buying an additional 3,042 shares during the period. Finally, Hartwell J M Limited Partnership bought a new position in Cabot Oil & Gas Corp. during the second quarter worth approximately $206,000. 94.93% of the stock is currently owned by hedge funds and other institutional investors.
Cabot Oil & Gas Corp. 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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