Zacks Investment Research Upgrades Cabot Oil & Gas (COG) to Buy

Cabot Oil & Gas (NYSE:COG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $32.00 target price on the oil and gas exploration company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 11.89% from the stock’s current price.

According to Zacks, “Shares of Cabot have surged 28% in the last twelve months, handily outperforming the broader industry's decline of 15.6%. The company's recent divestiture of non-core Eagle Ford assets have transformed it into a pure-play Marcellus operator. Increased focus on the Marcellus shale will enable the company to deliver double-digit growth per debt-adjusted share from the region. We believe COG’s execution success, continued expense management and improving well economics will further enhance its outlook, driving the shareholder value by share buyback programs and dividend growth.The company has managed to generate positive free cash flow for the six consecutive quarters and is likely to achieve more of the same in the near-to-medium term. All these factors form the basis of our bullish stance on the prospects of the stock.”

A number of other research analysts also recently commented on COG. TheStreet upgraded Cabot Oil & Gas from a “d+” rating to a “c” rating in a research note on Friday, October 6th. Citigroup cut Cabot Oil & Gas from an “outperform” rating to an “underperform” rating in a research note on Tuesday. They noted that the move was a valuation call. Piper Jaffray Companies decreased their price target on Cabot Oil & Gas from $32.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, September 18th. Cowen set a $30.00 price target on Cabot Oil & Gas and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Finally, Williams Capital reissued a “hold” rating and issued a $28.00 price target on shares of Cabot Oil & Gas in a research note on Monday, October 9th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. Cabot Oil & Gas presently has an average rating of “Hold” and a consensus target price of $30.95.

Shares of Cabot Oil & Gas (NYSE:COG) traded up $0.06 on Tuesday, reaching $28.60. The company had a trading volume of 5,095,500 shares, compared to its average volume of 5,858,044. The company has a market cap of $13,227.74, a P/E ratio of -92.26, a P/E/G ratio of 2.01 and a beta of 0.53. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.61 and a current ratio of 1.64. Cabot Oil & Gas has a 52-week low of $20.55 and a 52-week high of $29.57.

Cabot Oil & Gas (NYSE:COG) last issued its quarterly earnings data on Friday, October 27th. The oil and gas exploration company reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.01). The company had revenue of $385.40 million for the quarter, compared to the consensus estimate of $400.85 million. Cabot Oil & Gas had a positive return on equity of 6.63% and a negative net margin of 8.80%. Cabot Oil & Gas’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.04) earnings per share. equities analysts predict that Cabot Oil & Gas will post 0.48 EPS for the current year.

In other news, Chairman Dan O. Dinges sold 66,610 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $27.92, for a total value of $1,859,751.20. Following the completion of the sale, the chairman now owns 2,887,018 shares in the company, valued at $80,605,542.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Kelley acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was purchased at an average price of $27.47 per share, with a total value of $54,940.00. Following the acquisition, the director now owns 619,500 shares of the company’s stock, valued at $17,017,665. The disclosure for this purchase can be found here. Corporate insiders own 1.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Capital World Investors lifted its holdings in shares of Cabot Oil & Gas by 157.8% during the second quarter. Capital World Investors now owns 27,084,300 shares of the oil and gas exploration company’s stock valued at $679,274,000 after purchasing an additional 16,579,300 shares during the last quarter. PointState Capital LP lifted its holdings in shares of Cabot Oil & Gas by 60.9% during the second quarter. PointState Capital LP now owns 18,011,889 shares of the oil and gas exploration company’s stock valued at $451,738,000 after purchasing an additional 6,818,389 shares during the last quarter. FMR LLC lifted its holdings in shares of Cabot Oil & Gas by 16.5% during the second quarter. FMR LLC now owns 29,661,972 shares of the oil and gas exploration company’s stock valued at $743,923,000 after purchasing an additional 4,192,976 shares during the last quarter. Boston Partners purchased a new stake in shares of Cabot Oil & Gas during the third quarter valued at $64,249,000. Finally, Sanders Capital LLC lifted its holdings in shares of Cabot Oil & Gas by 7.2% during the third quarter. Sanders Capital LLC now owns 29,212,930 shares of the oil and gas exploration company’s stock valued at $839,952,000 after purchasing an additional 1,951,907 shares during the last quarter. Institutional investors and hedge funds own 95.64% of the company’s stock.

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About Cabot Oil & Gas

Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties. The Company operates in the segment of natural gas and oil development, exploitation, exploration and production, in the continental United States. Its assets are concentrated in areas with known hydrocarbon resources, which are conducive to multi-well, repeatable drilling programs.

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