Cabot Oil & Gas Co. (NYSE:COG) – Analysts at Jefferies Financial Group dropped their Q2 2019 earnings per share (EPS) estimates for Cabot Oil & Gas in a research note issued to investors on Monday, April 29th. Jefferies Financial Group analyst Z. Parham now expects that the oil and gas exploration company will earn $0.32 per share for the quarter, down from their prior forecast of $0.33. Jefferies Financial Group has a “Buy” rating and a $29.00 price objective on the stock. Jefferies Financial Group also issued estimates for Cabot Oil & Gas’ FY2019 earnings at $1.88 EPS, Q1 2020 earnings at $0.61 EPS, Q2 2020 earnings at $0.48 EPS, Q3 2020 earnings at $0.46 EPS, Q4 2020 earnings at $0.60 EPS and FY2020 earnings at $2.15 EPS.
COG has been the topic of a number of other research reports. Williams Capital reissued a “hold” rating and issued a $28.00 target price on shares of Cabot Oil & Gas in a report on Sunday, April 21st. Cowen began coverage on Cabot Oil & Gas in a report on Tuesday, April 9th. They issued an “outperform” rating and a $32.00 target price on the stock. Zacks Investment Research raised Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Tuesday, April 2nd. Guggenheim set a $27.00 target price on Cabot Oil & Gas and gave the company a “hold” rating in a report on Friday, February 22nd. Finally, ValuEngine raised Cabot Oil & Gas from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Cabot Oil & Gas has a consensus rating of “Buy” and a consensus price target of $28.64.
Cabot Oil & Gas (NYSE:COG) last posted its earnings results on Friday, April 26th. The oil and gas exploration company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.09. Cabot Oil & Gas had a return on equity of 31.52% and a net margin of 29.81%. The company had revenue of $641.70 million for the quarter, compared to the consensus estimate of $674.71 million. During the same quarter in the prior year, the company earned $0.28 earnings per share. Cabot Oil & Gas’s revenue was up 35.6% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Wednesday, May 15th will be given a $0.09 dividend. This is a boost from Cabot Oil & Gas’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.36 dividend on an annualized basis and a yield of 1.42%. Cabot Oil & Gas’s dividend payout ratio is presently 24.78%.
In other Cabot Oil & Gas news, insider Jeffrey W. Hutton sold 150,720 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $26.11, for a total value of $3,935,299.20. Following the completion of the sale, the insider now owns 629,270 shares in the company, valued at $16,430,239.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.90% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Paragon Capital Management LLC purchased a new stake in shares of Cabot Oil & Gas during the first quarter worth about $26,000. Carroll Financial Associates Inc. grew its position in shares of Cabot Oil & Gas by 192.9% during the first quarter. Carroll Financial Associates Inc. now owns 1,201 shares of the oil and gas exploration company’s stock worth $31,000 after purchasing an additional 791 shares in the last quarter. Whittier Trust Co. grew its position in shares of Cabot Oil & Gas by 97.2% during the fourth quarter. Whittier Trust Co. now owns 1,430 shares of the oil and gas exploration company’s stock worth $32,000 after purchasing an additional 705 shares in the last quarter. Pearl River Capital LLC purchased a new stake in shares of Cabot Oil & Gas during the first quarter worth about $32,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Cabot Oil & Gas during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 94.88% of the company’s stock.
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 174,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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