Cabot Oil & Gas Co. (COG) Receives Average Rating of “Buy” from Brokerages

Cabot Oil & Gas Co. (NYSE:COG) has received a consensus recommendation of “Buy” from the twenty-three analysts that are currently covering the company, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $28.32.

A number of research analysts have weighed in on the company. Williams Capital reissued a “hold” rating and set a $27.00 price target on shares of Cabot Oil & Gas in a research note on Friday, February 22nd. Zacks Investment Research downgraded Cabot Oil & Gas from a “buy” rating to a “hold” rating in a report on Monday. Morgan Stanley set a $27.00 price objective on Cabot Oil & Gas and gave the stock a “hold” rating in a report on Tuesday, January 29th. Citigroup upgraded Cabot Oil & Gas from a “neutral” rating to a “buy” rating in a report on Friday, December 21st. Finally, KeyCorp assumed coverage on Cabot Oil & Gas in a report on Monday, January 14th. They set a “sector weight” rating and a $24.18 price objective for the company.

In other news, insider Jeffrey W. Hutton sold 150,720 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $26.11, for a total transaction of $3,935,299.20. Following the completion of the sale, the insider now directly owns 629,270 shares in the company, valued at $16,430,239.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in COG. Capital World Investors lifted its holdings in Cabot Oil & Gas by 14.6% in the third quarter. Capital World Investors now owns 47,588,258 shares of the oil and gas exploration company’s stock worth $1,071,688,000 after acquiring an additional 6,064,016 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Cabot Oil & Gas by 2,315.2% in the third quarter. Mackenzie Financial Corp now owns 5,035,555 shares of the oil and gas exploration company’s stock worth $113,401,000 after acquiring an additional 4,827,058 shares during the last quarter. Norges Bank bought a new position in Cabot Oil & Gas in the fourth quarter worth about $76,512,000. Anchor Bolt Capital LP bought a new position in Cabot Oil & Gas in the fourth quarter worth about $47,515,000. Finally, Bank of New York Mellon Corp lifted its holdings in Cabot Oil & Gas by 13.4% in the third quarter. Bank of New York Mellon Corp now owns 12,440,907 shares of the oil and gas exploration company’s stock worth $280,169,000 after acquiring an additional 1,472,233 shares during the last quarter. Institutional investors own 94.88% of the company’s stock.

COG stock traded down $0.09 on Wednesday, reaching $25.81. The company had a trading volume of 87,412 shares, compared to its average volume of 4,990,432. Cabot Oil & Gas has a 1 year low of $20.94 and a 1 year high of $27.40. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.86 and a current ratio of 1.90. The firm has a market cap of $10.94 billion, a P/E ratio of 22.83, a PEG ratio of 0.39 and a beta of 0.62.

Cabot Oil & Gas (NYSE:COG) last posted its earnings results on Friday, February 22nd. The oil and gas exploration company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Cabot Oil & Gas had a net margin of 25.46% and a return on equity of 23.35%. The company had revenue of $716.30 million during the quarter, compared to analysts’ expectations of $659.51 million. During the same period in the previous year, the company posted $0.13 EPS. Cabot Oil & Gas’s quarterly revenue was up 78.9% compared to the same quarter last year. On average, research analysts predict that Cabot Oil & Gas will post 1.87 earnings per share for the current year.

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

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