Cabot Oil & Gas Co. (NYSE:COG) – Equities research analysts at Seaport Global Securities cut their Q3 2019 earnings per share estimates for shares of Cabot Oil & Gas in a report released on Thursday, May 23rd. Seaport Global Securities analyst M. Kelly now anticipates that the oil and gas exploration company will post earnings per share of $0.40 for the quarter, down from their prior estimate of $0.45. Seaport Global Securities also issued estimates for Cabot Oil & Gas’ Q4 2019 earnings at $0.49 EPS.
Cabot Oil & Gas (NYSE:COG) last announced its quarterly earnings data on Friday, April 26th. The oil and gas exploration company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.09. Cabot Oil & Gas had a net margin of 29.81% and a return on equity of 31.52%. The firm had revenue of $641.70 million during the quarter, compared to analysts’ expectations of $674.71 million. During the same quarter last year, the business earned $0.28 earnings per share. The business’s revenue for the quarter was up 35.6% compared to the same quarter last year.
Shares of NYSE COG opened at $25.70 on Friday. The company has a quick ratio of 2.75, a current ratio of 2.83 and a debt-to-equity ratio of 0.53. Cabot Oil & Gas has a 52 week low of $20.94 and a 52 week high of $27.65. The stock has a market capitalization of $10.88 billion, a P/E ratio of 22.74, a P/E/G ratio of 0.41 and a beta of 0.62.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.09 per share. 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 1.40%. This is a boost from Cabot Oil & Gas’s previous quarterly dividend of $0.07. Cabot Oil & Gas’s payout ratio is presently 31.86%.
In other Cabot Oil & Gas news, insider Jeffrey W. Hutton sold 150,720 shares of Cabot Oil & Gas stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $26.11, for a total transaction of $3,935,299.20. Following the completion of the transaction, 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 hyperlink. Insiders own 1.90% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Foresters Investment Management Company Inc. purchased a new stake in shares of Cabot Oil & Gas during the fourth quarter worth about $6,627,000. Contravisory Investment Management Inc. grew its holdings in shares of Cabot Oil & Gas by 12.0% during the first quarter. Contravisory Investment Management Inc. now owns 13,338 shares of the oil and gas exploration company’s stock worth $348,000 after buying an additional 1,429 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Cabot Oil & Gas by 19.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,501,665 shares of the oil and gas exploration company’s stock worth $33,572,000 after buying an additional 239,959 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Cabot Oil & Gas during the fourth quarter worth about $379,000. Finally, Castleark Management LLC grew its holdings in shares of Cabot Oil & Gas by 63.1% during the fourth quarter. Castleark Management LLC now owns 84,770 shares of the oil and gas exploration company’s stock worth $1,895,000 after buying an additional 32,800 shares in the last quarter. Institutional investors own 98.00% 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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