Cabot Oil & Gas Co. (COG) Receives $29.17 Average Price Target from Analysts

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Shares of Cabot Oil & Gas Co. (NYSE:COG) have earned a consensus recommendation of “Buy” from the twenty-six brokerages that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $29.17.

A number of research analysts have issued reports on COG shares. Piper Jaffray Companies set a $26.00 price target on Cabot Oil & Gas and gave the company a “buy” rating in a report on Monday, October 8th. ValuEngine downgraded Cabot Oil & Gas from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Evercore ISI raised Cabot Oil & Gas from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $28.00 to $30.00 in a report on Friday, September 7th. TD Securities started coverage on Cabot Oil & Gas in a report on Thursday, July 5th. They issued a “buy” rating and a $29.00 price target for the company. Finally, Zacks Investment Research downgraded Cabot Oil & Gas from a “hold” rating to a “sell” rating in a report on Tuesday.

Several hedge funds have recently made changes to their positions in the company. Sanders Capital LLC increased its position in shares of Cabot Oil & Gas by 1.1% during the second 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 in the last quarter. Bank of New York Mellon Corp increased its position in shares of Cabot Oil & Gas by 59.4% during the second 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 in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Cabot Oil & Gas by 64.2% during the second 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 in the last quarter. Millennium Management LLC increased its position in shares of Cabot Oil & Gas by 19.9% during the second 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 in the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Cabot Oil & Gas by 33.8% during the second 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 in the last quarter. 94.74% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:COG opened at $23.38 on Wednesday. Cabot Oil & Gas has a 12-month low of $21.48 and a 12-month high of $29.57. The company has a market capitalization of $9.94 billion, a price-to-earnings ratio of 48.98, a P/E/G ratio of 0.77 and a beta of 0.41. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.67 and a quick ratio of 1.64.

Cabot Oil & Gas (NYSE:COG) last announced its quarterly earnings results on Friday, July 27th. The oil and gas exploration company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.05). Cabot Oil & Gas had a net margin of 7.75% and a return on equity of 10.84%. The company had revenue of $453.50 million during the quarter, compared to analyst estimates of $384.57 million. During the same period in the previous year, the firm posted $0.14 earnings per share. The company’s revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Cabot Oil & Gas will post 0.97 EPS for the current year.

Cabot Oil & Gas Company Profile

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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Analyst Recommendations for Cabot Oil & Gas (NYSE:COG)

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