Cabot Oil & Gas (NYSE:COG) was upgraded by stock analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a report released on Friday, Marketbeat reports. The brokerage presently has a $30.00 target price on the oil and gas exploration company’s stock, up from their previous target price of $28.00. Evercore ISI’s price target would suggest a potential upside of 38.19% from the company’s current price.
Several other research firms have also recently issued reports on COG. Susquehanna Bancshares raised Cabot Oil & Gas from a “neutral” rating to a “positive” rating and increased their price target for the stock from $27.00 to $28.00 in a research note on Monday, July 30th. UBS Group raised Cabot Oil & Gas from a “neutral” rating to a “positive” rating in a research note on Monday, July 30th. TD Securities reissued a “buy” rating and issued a $30.00 price target (up previously from $29.00) on shares of Cabot Oil & Gas in a research note on Friday, July 27th. Morgan Stanley increased their price target on Cabot Oil & Gas from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Thursday, July 12th. Finally, ValuEngine cut Cabot Oil & Gas from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $29.95.
COG traded down $0.20 during trading on Friday, reaching $21.71. 274,411 shares of the company were exchanged, compared to its average volume of 4,777,057. The company has a market cap of $9.92 billion, a P/E ratio of 45.38, a PEG ratio of 0.76 and a beta of 0.38. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.67 and a quick ratio of 1.64. Cabot Oil & Gas has a 52 week low of $21.71 and a 52 week high of $29.57.
Cabot Oil & Gas (NYSE:COG) last issued its quarterly earnings data on Friday, July 27th. The oil and gas exploration company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.05). The company had revenue of $453.50 million for the quarter, compared to the consensus estimate of $384.57 million. Cabot Oil & Gas had a return on equity of 10.84% and a net margin of 7.75%. Cabot Oil & Gas’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 earnings per share. research analysts anticipate that Cabot Oil & Gas will post 0.98 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in COG. FDx Advisors Inc. lifted its holdings in shares of Cabot Oil & Gas by 135.5% during the first quarter. FDx Advisors Inc. now owns 41,102 shares of the oil and gas exploration company’s stock valued at $986,000 after purchasing an additional 23,650 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Cabot Oil & Gas by 18.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 16,251 shares of the oil and gas exploration company’s stock worth $390,000 after acquiring an additional 2,488 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Cabot Oil & Gas by 0.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,370,119 shares of the oil and gas exploration company’s stock worth $32,855,000 after acquiring an additional 11,790 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Cabot Oil & Gas by 259.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 100,982 shares of the oil and gas exploration company’s stock worth $2,460,000 after acquiring an additional 72,886 shares in the last quarter. Finally, Mackay Shields LLC purchased a new stake in Cabot Oil & Gas in the 1st quarter worth about $1,867,000. 94.74% of the stock is owned by institutional investors and hedge funds.
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.
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