Analysts expect that Cabot Oil & Gas Co. (NYSE:COG) will report earnings per share (EPS) of $0.19 for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Cabot Oil & Gas’ earnings, with estimates ranging from $0.16 to $0.29. Cabot Oil & Gas reported earnings per share of $0.14 in the same quarter last year, which would suggest a positive year over year growth rate of 35.7%. The business is scheduled to announce its next quarterly earnings results on Thursday, July 26th.
On average, analysts expect that Cabot Oil & Gas will report full year earnings of $1.10 per share for the current financial year, with EPS estimates ranging from $0.94 to $1.30. For the next fiscal year, analysts anticipate that the business will report earnings of $1.55 per share, with EPS estimates ranging from $0.61 to $2.13. Zacks’ earnings per share averages are an average based on a survey of analysts that follow Cabot Oil & Gas.
Cabot Oil & Gas (NYSE:COG) last announced its earnings results on Friday, April 27th. The oil and gas exploration company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $473.20 million for the quarter, compared to analysts’ expectations of $471.25 million. Cabot Oil & Gas had a return on equity of 10.56% and a net margin of 6.51%. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.19 earnings per share.
Several equities analysts have recently issued reports on the company. Williams Capital set a $30.00 price target on Cabot Oil & Gas and gave the company a “hold” rating in a research note on Friday, February 23rd. Zacks Investment Research lowered Cabot Oil & Gas from a “hold” rating to a “sell” rating in a research note on Friday, March 23rd. UBS Group assumed coverage on Cabot Oil & Gas in a research note on Wednesday, March 7th. They set a “neutral” rating and a $28.00 price target on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $25.00 price target on shares of Cabot Oil & Gas in a research note on Monday, March 19th. Finally, LADENBURG THALM/SH SH set a $34.00 price target on Cabot Oil & Gas and gave the company a “buy” rating in a research note on Friday, April 27th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the stock. Cabot Oil & Gas currently has a consensus rating of “Hold” and a consensus target price of $30.11.
Shares of Cabot Oil & Gas traded down $0.24, hitting $23.61, during trading hours on Friday, according to Marketbeat Ratings. 212,098 shares of the stock traded hands, compared to its average volume of 5,794,426. The company has a quick ratio of 2.40, a current ratio of 2.42 and a debt-to-equity ratio of 0.51. Cabot Oil & Gas has a 1-year low of $21.71 and a 1-year high of $29.57. The firm has a market capitalization of $10.63 billion, a PE ratio of 49.56, a price-to-earnings-growth ratio of 0.77 and a beta of 0.38.
Cabot Oil & Gas declared that its board has authorized a stock repurchase plan on Friday, February 23rd that authorizes the company to repurchase 30,000,000 outstanding shares. This repurchase authorization authorizes the oil and gas exploration company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 30th. Shareholders of record on Wednesday, May 16th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.02%. The ex-dividend date was Tuesday, May 15th. Cabot Oil & Gas’s payout ratio is 50.00%.
In related news, Director Robert Kelley bought 50,000 shares of the business’s stock in a transaction on Tuesday, May 29th. The shares were purchased at an average price of $22.25 per share, with a total value of $1,112,500.00. Following the completion of the purchase, the director now owns 681,717 shares of the company’s stock, valued at approximately $15,168,203.25. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Cabot Oil & Gas by 1.2% in the fourth quarter. BlackRock Inc. now owns 31,949,963 shares of the oil and gas exploration company’s stock valued at $913,770,000 after buying an additional 365,252 shares during the period. Amundi Pioneer Asset Management Inc. lifted its stake in Cabot Oil & Gas by 3.3% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 10,042,209 shares of the oil and gas exploration company’s stock valued at $287,206,000 after buying an additional 322,380 shares during the period. Bank of New York Mellon Corp lifted its stake in Cabot Oil & Gas by 66.9% in the fourth quarter. Bank of New York Mellon Corp now owns 7,019,410 shares of the oil and gas exploration company’s stock valued at $200,757,000 after buying an additional 2,813,273 shares during the period. King Luther Capital Management Corp lifted its stake in Cabot Oil & Gas by 1.7% in the fourth quarter. King Luther Capital Management Corp now owns 5,199,254 shares of the oil and gas exploration company’s stock valued at $148,699,000 after buying an additional 87,394 shares during the period. Finally, Millennium Management LLC raised its position in shares of Cabot Oil & Gas by 538.3% during the first quarter. Millennium Management LLC now owns 4,961,299 shares of the oil and gas exploration company’s stock worth $118,972,000 after purchasing an additional 4,184,071 shares during the period. 95.46% of the stock is currently owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cabot Oil & Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot Oil & Gas and related companies with MarketBeat.com's FREE daily email newsletter.