$464.40 Million in Sales Expected for Cabot Oil & Gas Co. (COG) This Quarter

Analysts expect that Cabot Oil & Gas Co. (NYSE:COG) will announce sales of $464.40 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Cabot Oil & Gas’ earnings, with estimates ranging from $452.59 million to $476.80 million. Cabot Oil & Gas posted sales of $517.84 million in the same quarter last year, which suggests a negative year-over-year growth rate of 10.3%. The company is scheduled to issue its next earnings results before the market opens on Friday, April 27th.

On average, analysts expect that Cabot Oil & Gas will report full-year sales of $464.40 million for the current fiscal year, with estimates ranging from $1.90 billion to $1.98 billion. For the next financial year, analysts forecast that the company will report sales of $2.57 billion per share, with estimates ranging from $2.42 billion to $2.83 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Cabot Oil & Gas.

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Cabot Oil & Gas (NYSE:COG) last posted its quarterly earnings data on Friday, February 23rd. The oil and gas exploration company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. Cabot Oil & Gas had a return on equity of 8.60% and a net margin of 5.69%. The company had revenue of $400.50 million during the quarter, compared to analysts’ expectations of $422.12 million. During the same period last year, the firm earned $0.01 EPS. The firm’s revenue for the quarter was up 26.5% on a year-over-year basis.

A number of brokerages have recently issued reports on COG. Zacks Investment Research downgraded Cabot Oil & Gas from a “hold” rating to a “sell” rating in a research note on Friday, March 23rd. Piper Jaffray set a $36.00 target price on Cabot Oil & Gas and gave the stock a “buy” rating in a research note on Wednesday, March 14th. UBS began coverage on Cabot Oil & Gas in a research note on Wednesday, March 7th. They set a “neutral” rating and a $28.00 target price for the company. Jefferies Group reissued a “hold” rating and set a $25.00 target price on shares of Cabot Oil & Gas in a research note on Monday, March 19th. Finally, BMO Capital Markets reissued a “buy” rating and set a $31.00 target price on shares of Cabot Oil & Gas in a research note on Tuesday, February 27th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $31.21.

Shares of COG stock opened at $23.94 on Tuesday. The company has a market cap of $10,925.24, a PE ratio of 48.39, a price-to-earnings-growth ratio of 0.83 and a beta of 0.40. Cabot Oil & Gas has a 12-month low of $21.40 and a 12-month high of $29.57. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 0.48.

Cabot Oil & Gas declared that its board has authorized a stock repurchase program on Friday, February 23rd that authorizes the company to buyback 30,000,000 shares. This buyback authorization authorizes the oil and gas exploration company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. purchased a new position in Cabot Oil & Gas during the third quarter worth $130,000. Glenmede Trust Co. NA increased its position in Cabot Oil & Gas by 119.3% during the fourth quarter. Glenmede Trust Co. NA now owns 5,008 shares of the oil and gas exploration company’s stock worth $143,000 after buying an additional 2,724 shares in the last quarter. MHI Funds LLC purchased a new position in Cabot Oil & Gas during the fourth quarter worth $147,000. Avestar Capital LLC purchased a new position in Cabot Oil & Gas during the fourth quarter worth $151,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in Cabot Oil & Gas during the fourth quarter worth $186,000. 98.49% of the stock is owned by institutional investors.

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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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