Cabot Oil & Gas (COG) Earns Neutral Rating from Analysts at Credit Suisse Group
Credit Suisse Group began coverage on shares of Cabot Oil & Gas (NYSE:COG) in a research report report published on Monday morning, Marketbeat.com reports. The firm issued a neutral rating and a $30.00 target price on the oil and gas exploration company’s stock.
Several other equities research analysts have also weighed in on COG. Scotiabank set a $30.00 target price on Cabot Oil & Gas and gave the stock a buy rating in a report on Tuesday, August 22nd. TheStreet lowered Cabot Oil & Gas from a c rating to a d+ rating in a report on Thursday, August 24th. Jefferies Group set a $24.00 target price on Cabot Oil & Gas and gave the stock a hold rating in a report on Monday, August 28th. BMO Capital Markets restated a buy rating and issued a $30.00 target price on shares of Cabot Oil & Gas in a report on Friday, September 1st. Finally, Cowen restated a buy rating and issued a $30.00 target price on shares of Cabot Oil & Gas in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $30.56.
Shares of Cabot Oil & Gas (NYSE COG) opened at $27.76 on Monday. Cabot Oil & Gas has a 1-year low of $20.55 and a 1-year high of $29.57. The company has a quick ratio of 1.61, a current ratio of 1.64 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $12,765.23, a P/E ratio of 72.63, a P/E/G ratio of 1.86 and a beta of 0.52.
Cabot Oil & Gas (NYSE:COG) last posted its earnings results on Friday, October 27th. The oil and gas exploration company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.01). Cabot Oil & Gas had a positive return on equity of 6.63% and a negative net margin of 8.80%. The company had revenue of $385.40 million during the quarter, compared to analyst estimates of $400.85 million. During the same quarter last year, the firm posted ($0.04) earnings per share. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. analysts predict that Cabot Oil & Gas will post 0.49 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Wednesday, November 8th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Tuesday, November 7th. Cabot Oil & Gas’s dividend payout ratio is presently -64.51%.
In other news, Director Robert Kelley acquired 2,000 shares of the stock in a transaction dated Tuesday, October 31st. The shares were acquired at an average cost of $27.47 per share, for a total transaction of $54,940.00. Following the completion of the transaction, the director now owns 619,500 shares in the company, valued at approximately $17,017,665. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Dan O. Dinges sold 66,610 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $27.92, for a total value of $1,859,751.20. Following the sale, the chairman now owns 2,887,018 shares in the company, valued at $80,605,542.56. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp increased its position in shares of Cabot Oil & Gas by 127.2% during the second quarter. Stifel Financial Corp now owns 44,262 shares of the oil and gas exploration company’s stock valued at $1,126,000 after purchasing an additional 24,777 shares during the period. Shell Asset Management Co. increased its position in shares of Cabot Oil & Gas by 328.6% during the third quarter. Shell Asset Management Co. now owns 125,242 shares of the oil and gas exploration company’s stock valued at $4,094,000 after purchasing an additional 96,023 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cabot Oil & Gas by 59.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 165,521 shares of the oil and gas exploration company’s stock valued at $4,151,000 after purchasing an additional 61,978 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Cabot Oil & Gas by 6.3% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 88,713 shares of the oil and gas exploration company’s stock valued at $2,373,000 after acquiring an additional 5,246 shares during the period. Finally, Neuberger Berman Group LLC grew its position in Cabot Oil & Gas by 11.3% in the second quarter. Neuberger Berman Group LLC now owns 20,664,730 shares of the oil and gas exploration company’s stock valued at $518,271,000 after acquiring an additional 2,095,126 shares during the period. Institutional investors and hedge funds own 95.69% of the company’s stock.
About Cabot Oil & Gas
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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