$654.15 Million in Sales Expected for Cabot Oil & Gas Co. (COG) This Quarter

Equities analysts predict that Cabot Oil & Gas Co. (NYSE:COG) will report sales of $654.15 million for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for Cabot Oil & Gas’ earnings. The lowest sales estimate is $540.03 million and the highest is $787.00 million. Cabot Oil & Gas reported sales of $473.23 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 38.2%. The company is scheduled to report its next earnings report before the market opens on Friday, April 26th.

According to Zacks, analysts expect that Cabot Oil & Gas will report full year sales of $2.38 billion for the current fiscal year, with estimates ranging from $2.25 billion to $2.46 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.46 billion, with estimates ranging from $2.16 billion to $2.61 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Cabot Oil & Gas.

Cabot Oil & Gas (NYSE:COG) last posted its earnings results on Friday, February 22nd. The oil and gas exploration company reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.03). Cabot Oil & Gas had a return on equity of 23.35% and a net margin of 25.46%. The company had revenue of $716.30 million during the quarter, compared to analysts’ expectations of $659.51 million. During the same period in the prior year, the business posted $0.13 earnings per share. The company’s revenue for the quarter was up 78.9% on a year-over-year basis.

Several research firms have recently commented on COG. Zacks Investment Research upgraded Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Tuesday, March 26th. TD Securities boosted their target price on shares of Cabot Oil & Gas from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. ValuEngine upgraded shares of Cabot Oil & Gas from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Citigroup upgraded shares of Cabot Oil & Gas from a “neutral” rating to a “buy” rating in a report on Friday, December 21st. Finally, KeyCorp started coverage on shares of Cabot Oil & Gas in a report on Monday, January 14th. They issued a “sector weight” rating and a $24.18 target price on the stock. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $28.68.

NYSE COG traded up $0.05 during trading hours on Friday, reaching $27.41. 109,897 shares of the company’s stock traded hands, compared to its average volume of 4,886,699. Cabot Oil & Gas has a 52-week low of $20.94 and a 52-week high of $27.65. The stock has a market cap of $11.58 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 0.40 and a beta of 0.62. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.90 and a quick ratio of 1.86.

In other Cabot Oil & Gas news, insider Jeffrey W. Hutton sold 150,720 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $26.11, for a total transaction of $3,935,299.20. Following the transaction, the insider now owns 629,270 shares in the company, valued at $16,430,239.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Foresters Investment Management Company Inc. bought a new position in shares of Cabot Oil & Gas in the fourth quarter worth about $6,627,000. Dimensional Fund Advisors LP lifted its stake in shares of Cabot Oil & Gas by 19.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,501,665 shares of the oil and gas exploration company’s stock valued at $33,572,000 after purchasing an additional 239,959 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Cabot Oil & Gas in the 4th quarter valued at $379,000. First Hawaiian Bank lifted its stake in shares of Cabot Oil & Gas by 67.7% in the 4th quarter. First Hawaiian Bank now owns 29,861 shares of the oil and gas exploration company’s stock valued at $668,000 after purchasing an additional 12,059 shares during the period. Finally, CENTRAL TRUST Co acquired a new position in shares of Cabot Oil & Gas in the 4th quarter valued at $98,000. Hedge funds and other institutional investors own 94.88% of the company’s stock.

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 174,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

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