Analysts Expect Cabot Oil & Gas Co. (COG) Will Post Earnings of $0.19 Per Share

Brokerages forecast that Cabot Oil & Gas Co. (NYSE:COG) will report earnings of $0.19 per share for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Cabot Oil & Gas’ earnings. The lowest EPS estimate is $0.16 and the highest is $0.29. Cabot Oil & Gas reported earnings of $0.14 per share in the same quarter last year, which indicates a positive year over year growth rate of 35.7%. The firm 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 fiscal year, with EPS estimates ranging from $0.94 to $1.30. For the next year, analysts forecast that the business will report earnings of $1.55 per share, with EPS estimates ranging from $0.61 to $2.13. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Cabot Oil & Gas.

Cabot Oil & Gas (NYSE:COG) last announced its quarterly earnings data on Friday, April 27th. The oil and gas exploration company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $473.20 million during the quarter, compared to analysts’ expectations of $471.25 million. Cabot Oil & Gas had a net margin of 6.51% and a return on equity of 10.56%. The business’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 earnings per share.

A number of research analysts recently weighed in on the stock. Williams Capital set a $30.00 price objective on shares of Cabot Oil & Gas and gave the company a “hold” rating in a report on Friday, February 23rd. Zacks Investment Research cut shares of Cabot Oil & Gas from a “hold” rating to a “sell” rating in a report on Friday, March 23rd. UBS Group assumed coverage on shares of Cabot Oil & Gas in a report on Wednesday, March 7th. They issued a “neutral” rating and a $28.00 price objective for the company. Jefferies Financial Group reiterated a “hold” rating and set a $25.00 price target on shares of Cabot Oil & Gas in a report on Monday, March 19th. Finally, LADENBURG THALM/SH SH set a $34.00 price target on shares of Cabot Oil & Gas and gave the stock a “buy” rating in a report on Friday, April 27th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $30.11.

In related news, Director Robert Kelley bought 50,000 shares of the stock in a transaction dated Tuesday, May 29th. The stock was acquired at an average price of $22.25 per share, for a total transaction of $1,112,500.00. Following the acquisition, the director now owns 681,717 shares in the company, valued at approximately $15,168,203.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional investors have recently modified their holdings of the company. MetLife Investment Advisors LLC acquired a new position in shares of Cabot Oil & Gas in the 4th quarter valued at $4,093,000. Bank of The West purchased a new stake in Cabot Oil & Gas in the 4th quarter valued at $272,000. Nomura Asset Management Co. Ltd. raised its position in Cabot Oil & Gas by 7.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 63,100 shares of the oil and gas exploration company’s stock valued at $1,804,000 after purchasing an additional 4,390 shares during the last quarter. Emerald Advisers Inc. PA raised its position in Cabot Oil & Gas by 362.6% in the 4th quarter. Emerald Advisers Inc. PA now owns 61,368 shares of the oil and gas exploration company’s stock valued at $1,755,000 after purchasing an additional 48,102 shares during the last quarter. Finally, ING Groep NV raised its position in Cabot Oil & Gas by 34.0% in the 4th quarter. ING Groep NV now owns 15,792 shares of the oil and gas exploration company’s stock valued at $452,000 after purchasing an additional 4,006 shares during the last quarter. Institutional investors and hedge funds own 95.46% of the company’s stock.

Shares of Cabot Oil & Gas traded down $0.24, reaching $23.61, during trading on Friday, MarketBeat reports. The company’s stock had a trading volume of 212,098 shares, compared to its average volume of 5,794,426. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.40 and a current ratio of 2.42. The stock has a market capitalization of $10.63 billion, a P/E ratio of 49.56, a price-to-earnings-growth ratio of 0.77 and a beta of 0.38. Cabot Oil & Gas has a 1-year low of $21.71 and a 1-year high of $29.57.

Cabot Oil & Gas declared that its Board of Directors has initiated a stock repurchase plan on Friday, February 23rd that authorizes the company to repurchase 30,000,000 shares. This repurchase authorization authorizes the oil and gas exploration company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication 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. Stockholders of record on Wednesday, May 16th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Tuesday, May 15th. Cabot Oil & Gas’s payout ratio is 50.00%.

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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