Cabot Oil & Gas (NYSE: COG) was downgraded by Zacks Investment Research from a “strong buy” rating to a “conservation” rating in a research report released Tuesday, Zacks.com reports. They currently have a price target of $ 21.00 on the shares of the oil and gas exploration company. Zacks Investment Research’s target price indicates a potential rise of 10.70% from the company’s previous close.
According to Zacks, “Cabot Oil & Gas Corporation is an independent gas exploration company. Its world-class acreage in the most productive areas of the Marcellus Shale Zone positions it for major growth potential. In particular, with natural gas breaking the $ 5 threshold for the first time since 2014 and Cabot’s production being 100% gas-weighted, the company is well positioned to profit from the recovery. Cabot also continues to improve its advanced cost structure. In addition, it commits to making more than half of its cash flow available to shareholders. However, Cabot’s proposed merger with Cimarex Energy, an oil-focused company, also found few takers. In another setback, Cabot’s Constitution pipeline, struggling with lawsuits and water permits, was ultimately canceled. cautious position. “
A number of other analysts have also weighed on the stock recently. Johnson Rice downgraded Cabot Oil & Gas shares from a “hold” rating to a “sell” rating and lowered his stock price target from $ 21.00 to $ 18.00 in report research published on Tuesday, June 8. Morgan Stanley lowered its price target for Cabot Oil & Gas shares from $ 20.00 to $ 19.00 and set an “equal weight” rating for the company in a research report released on Friday, June 18. Mizuho raised his price target for Cabot Oil & Gas shares from $ 21.00 to $ 22.00 and gave the stock a “neutral” rating in a research report published on Tuesday, July 13. Finally, Raymond James downgraded Cabot Oil & Gas shares from an “outperformance” rating to a “market performance” rating in a research report released on Wednesday, May 26. Two research analysts rated the stock with a sell rating, ten assigned a conservation rating, and three assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $ 20.20.
NYSE: COG shares traded at $ 0.40 on Tuesday, reaching $ 18.97. 266,034 shares of the company were traded, for an average volume of 7,625,875. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt ratio of 0.41. Cabot Oil & Gas has a one-year low at $ 14.28 and a one-year high at $ 20.33. The company has a market cap of $ 7.58 billion, a price / earnings ratio of 24.68, a price / earnings-growth ratio of 0.19, and a beta of 0.15. The company has a 50-day moving average of $ 16.53 and a 200-day moving average of $ 17.11.
Cabot Oil & Gas (NYSE: COG) last released its results on Thursday, July 29. The oil and gas exploration company reported earnings per share (EPS) of $ 0.26 for the quarter, missing Zacks’ consensus estimate of $ 0.27 of ($ 0.01). The company posted revenue of $ 324.67 million in the quarter, compared to analysts’ expectations of $ 429.52 million. Cabot Oil & Gas had a net margin of 19.77% and a return on equity of 16.52%. Cabot Oil & Gas revenues for the quarter were down 2.3% year over year. In the same quarter of last year, the company posted earnings per share of $ 0.05. As a group, analysts predict Cabot Oil & Gas will post earnings per share of 1.71 for the current year.
Several institutional investors have recently changed their positions in COG. Advisory Services Network LLC purchased a new position in Cabot Oil & Gas shares during the second quarter valued at approximately $ 37,000. Point72 Hong Kong Ltd purchased a new position in Cabot Oil & Gas shares during the first quarter valued at approximately $ 51,000. Denali Advisors LLC increased its holdings of Cabot Oil & Gas shares by 47.4% in the second quarter. Denali Advisors LLC now owns 2,800 shares of the oil and gas exploration company valued at $ 49,000 after buying 900 more shares in the last quarter. Prestige Wealth Management Group LLC increased its holdings of Cabot Oil & Gas shares by 1,767.3% during the second quarter. Prestige Wealth Management Group LLC now owns 3,137 shares of the oil and gas exploration company valued at $ 55,000 after purchasing an additional 2,969 shares in the last quarter. Finally, Alpha Paradigm Partners LLC purchased a new position in Cabot Oil & Gas shares during the second quarter valued at approximately $ 64,000.
Cabot Oil and Gas Company Profile
Cabot Oil & Gas Corp. is engaged in the development, operation, production and exploration of oil and gas properties. It operates through the Marcellus shale in Pennsylvania. The company was founded in 1989 and is headquartered in Houston, Texas.
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