Raymond James Financial Inc. upgraded shares of Cabot Oil & Gas Corp. (NYSE:COG) from a market perform rating to a strong-buy rating in a research note issued to investors on Friday morning. Raymond James Financial Inc. currently has $30.00 target price on the oil and gas exploration company’s stock, up from their previous target price of $25.57.
Other analysts also recently issued reports about the stock. Barclays PLC upped 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 report on Thursday, September 1st. Capital One Financial Corp. reissued an equal weight rating on shares of Cabot Oil & Gas Corp. in a research report 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 price objective on the stock in a research report on Thursday, August 11th. Zacks Investment Research downgraded shares of Cabot Oil & Gas Corp. from a buy rating to a hold rating in a research report on Friday, August 5th. Finally, Jefferies Group reissued a hold rating on shares of Cabot Oil & Gas Corp. in a research report on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $27.09.
Cabot Oil & Gas Corp. (NYSE:COG) opened at 24.34 on Friday. Cabot Oil & Gas Corp. has a 1-year low of $14.88 and a 1-year high of $26.74. The stock’s market cap is $11.32 billion. The stock has a 50 day moving average of $25.14 and a 200 day moving average of $24.27.
Cabot Oil & Gas Corp. (NYSE:COG) last released its earnings results on Friday, July 29th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.01. The firm had revenue of $246.80 million for the quarter, compared to the consensus estimate 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 revenue was down 19.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 EPS. Equities analysts anticipate that Cabot Oil & Gas Corp. will post ($0.15) EPS for the current fiscal year.
In other Cabot Oil & Gas Corp. news, insider George Kevin Cunningham sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $25.25, for a total transaction of $75,750.00. Following the completion of the sale, the insider now directly owns 35,990 shares of the company’s stock, valued at approximately $908,747.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.80% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Financial Architects Inc bought a new stake in shares of Cabot Oil & Gas Corp. during the second quarter worth about $106,000. BlueMountain Capital Management LLC acquired a new position in Cabot Oil & Gas Corp. during the first quarter worth $124,000. Advisor Group Inc. acquired a new position in Cabot Oil & Gas Corp. during the second quarter worth $153,000. Mizuho Asset Management Co. Ltd. raised 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 acquired a new position in Cabot Oil & Gas Corp. during the second quarter worth $206,000. 94.93% of the stock is owned by institutional investors and hedge funds.
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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