Q3 2016 EPS Estimates for Cabot Oil & Gas Corp. Lowered by Analyst (COG)
Cabot Oil & Gas Corp. (NYSE:COG) – Research analysts at Williams Capital lowered their Q3 2016 earnings per share (EPS) estimates for Cabot Oil & Gas Corp. in a note issued to investors on Monday. Williams Capital analyst G. Sorbara now anticipates that the brokerage will post earnings of ($0.03) per share for the quarter, down from their previous forecast of ($0.01). Williams Capital currently has a “Buy” rating and a $30.00 target price on the stock. Williams Capital also issued estimates for Cabot Oil & Gas Corp.’s FY2016 earnings at ($0.17) EPS.
Cabot Oil & Gas Corp. (NYSE:COG) last announced its earnings results on Friday, July 29th. The oil and gas exploration company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. Cabot Oil & Gas Corp. had a negative return on equity of 4.16% and a negative net margin of 21.59%. The business had revenue of $246.80 million for the quarter, compared to analysts’ expectations of $270.13 million. During the same period in the prior year, the business posted $0.03 earnings per share. The firm’s revenue was down 19.4% on a year-over-year basis.
Several other brokerages also recently commented on COG. Raymond James Financial Inc. upgraded Cabot Oil & Gas Corp. from a “market perform” rating to a “strong-buy” rating and raised their target price for the stock from $25.57 to $30.00 in a research note on Friday, September 23rd. Deutsche Bank AG cut their target price on Cabot Oil & Gas Corp. from $24.00 to $23.00 and set a “hold” rating for the company in a research note on Tuesday, June 14th. Drexel Hamilton raised their target price on Cabot Oil & Gas Corp. from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, August 15th. Scotiabank upgraded 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 Saturday, August 13th. Finally, Barclays PLC raised their target price on 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $27.83.
Shares of Cabot Oil & Gas Corp. (NYSE:COG) traded up 2.26% during mid-day trading on Wednesday, reaching $25.78. The company had a trading volume of 2,427,432 shares. The firm’s market capitalization is $11.99 billion. The stock has a 50 day moving average price of $25.27 and a 200 day moving average price of $24.38. Cabot Oil & Gas Corp. has a 12-month low of $14.88 and a 12-month high of $26.74.
In other news, insider George Kevin Cunningham sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $25.25, for a total transaction of $75,750.00. Following the transaction, the insider now directly owns 35,990 shares of the company’s stock, valued at $908,747.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Sanders Capital LLC boosted its position in Cabot Oil & Gas Corp. by 101.7% in the second quarter. Sanders Capital LLC now owns 12,273,055 shares of the oil and gas exploration company’s stock valued at $322,296,000 after buying an additional 6,186,892 shares during the period. Franklin Resources Inc. boosted its position in Cabot Oil & Gas Corp. by 35.8% in the first quarter. Franklin Resources Inc. now owns 10,781,389 shares of the oil and gas exploration company’s stock valued at $244,845,000 after buying an additional 2,843,050 shares during the period. Emerald Acquisition Ltd. acquired a new position in Cabot Oil & Gas Corp. during the second quarter valued at about $57,948,000. State Street Corp boosted its position in Cabot Oil & Gas Corp. by 7.9% in the first quarter. State Street Corp now owns 27,916,714 shares of the oil and gas exploration company’s stock valued at $633,983,000 after buying an additional 2,047,634 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in Cabot Oil & Gas Corp. by 504.8% in the second quarter. Point72 Asset Management L.P. now owns 1,850,838 shares of the oil and gas exploration company’s stock valued at $47,641,000 after buying an additional 1,544,838 shares during the period. 94.93% of the stock is currently owned by hedge funds and other institutional investors.
About Cabot Oil & Gas Corp.
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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