Cabot Oil & Gas Co. (COG) Expected to Announce Earnings of $0.27 Per Share

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Wall Street analysts expect that Cabot Oil & Gas Co. (NYSE:COG) will announce $0.27 earnings per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Cabot Oil & Gas’ earnings, with the highest EPS estimate coming in at $0.32 and the lowest estimate coming in at $0.18. Cabot Oil & Gas posted earnings of $0.07 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 285.7%. The firm is scheduled to report its next quarterly earnings report before the market opens on Friday, October 26th.

According to Zacks, analysts expect that Cabot Oil & Gas will report full-year earnings of $1.05 per share for the current financial year, with EPS estimates ranging from $0.89 to $1.21. For the next fiscal year, analysts expect that the company will post earnings of $1.57 per share, with EPS estimates ranging from $0.64 to $2.07. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Cabot Oil & Gas.

Cabot Oil & Gas (NYSE:COG) last announced its quarterly earnings results on Friday, July 27th. The oil and gas exploration company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.05). The business had revenue of $453.50 million during the quarter, compared to analyst estimates of $384.57 million. Cabot Oil & Gas had a net margin of 7.75% and a return on equity of 10.84%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the company earned $0.14 EPS.

COG has been the topic of several research analyst reports. Morgan Stanley downgraded Cabot Oil & Gas from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $29.00 to $23.00 in a report on Wednesday, September 26th. UBS Group upgraded Cabot Oil & Gas from a “neutral” rating to a “positive” rating in a report on Monday, July 30th. TD Securities initiated coverage on Cabot Oil & Gas in a report on Thursday, July 5th. They issued a “buy” rating and a $29.00 price objective on the stock. Evercore ISI upgraded Cabot Oil & Gas from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $28.00 to $30.00 in a report on Friday, September 7th. Finally, Piper Jaffray Companies set a $26.00 price objective on Cabot Oil & Gas and gave the company a “buy” rating in a report on Monday, October 8th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $29.19.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sanders Capital LLC increased its holdings in Cabot Oil & Gas by 1.1% during the 2nd quarter. Sanders Capital LLC now owns 29,938,869 shares of the oil and gas exploration company’s stock worth $772,204,000 after purchasing an additional 319,100 shares during the period. Bank of New York Mellon Corp increased its holdings in Cabot Oil & Gas by 59.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,968,674 shares of the oil and gas exploration company’s stock worth $261,055,000 after purchasing an additional 4,087,096 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its holdings in Cabot Oil & Gas by 64.2% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,144,471 shares of the oil and gas exploration company’s stock worth $146,238,000 after purchasing an additional 2,403,213 shares during the period. Millennium Management LLC increased its holdings in Cabot Oil & Gas by 19.9% during the 2nd quarter. Millennium Management LLC now owns 5,947,652 shares of the oil and gas exploration company’s stock worth $141,554,000 after purchasing an additional 986,353 shares during the period. Finally, Schroder Investment Management Group increased its holdings in Cabot Oil & Gas by 33.8% during the 2nd quarter. Schroder Investment Management Group now owns 3,900,663 shares of the oil and gas exploration company’s stock worth $92,290,000 after purchasing an additional 984,756 shares during the period. Institutional investors own 94.74% of the company’s stock.

Shares of COG stock traded up $0.19 on Monday, hitting $23.38. The stock had a trading volume of 5,006,885 shares, compared to its average volume of 5,887,623. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $9.94 billion, a PE ratio of 48.71, a P/E/G ratio of 0.77 and a beta of 0.41. Cabot Oil & Gas has a 1 year low of $21.48 and a 1 year high of $29.57.

About Cabot Oil & Gas

Cabot Oil & Gas Corporation, an independent oil and gas company, explores for, exploits, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States. It primarily focuses on the Marcellus Shale with approximately 172,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; and the Eagle Ford Shale with approximately 79,000 net acres in the oil window of the play located in Atascosa, Frio, and La Salle Counties, Texas.

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