Analysts predict that Cabot Oil & Gas Co. (NYSE:COG) will report $486.30 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Cabot Oil & Gas’ earnings, with estimates ranging from $455.02 million to $542.00 million. Cabot Oil & Gas reported sales of $716.30 million in the same quarter last year, which indicates a negative year over year growth rate of 32.1%. The business is expected to announce its next quarterly earnings results on Friday, February 28th.
According to Zacks, analysts expect that Cabot Oil & Gas will report full-year sales of $2.11 billion for the current fiscal year, with estimates ranging from $2.07 billion to $2.17 billion. For the next year, analysts forecast that the company will post sales of $1.97 billion, with estimates ranging from $1.83 billion to $2.19 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Cabot Oil & Gas.
Cabot Oil & Gas (NYSE:COG) last released its earnings results on Thursday, October 24th. The oil and gas exploration company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.04. Cabot Oil & Gas had a return on equity of 34.92% and a net margin of 34.86%. The firm had revenue of $429.11 million for the quarter, compared to analysts’ expectations of $453.73 million. During the same quarter in the previous year, the business posted $0.25 earnings per share. The business’s revenue for the quarter was down 21.3% on a year-over-year basis.
Cabot Oil & Gas stock traded down $0.02 during midday trading on Monday, reaching $18.36. The company’s stock had a trading volume of 6,627,930 shares, compared to its average volume of 6,755,512. Cabot Oil & Gas has a 52 week low of $16.01 and a 52 week high of $27.65. The company has a current ratio of 1.43, a quick ratio of 1.37 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $18.05 and a 200-day moving average price of $21.13. The stock has a market cap of $7.65 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 0.79 and a beta of 0.56.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Wednesday, November 6th will be issued a dividend of $0.10 per share. This is a boost from Cabot Oil & Gas’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Tuesday, November 5th. Cabot Oil & Gas’s payout ratio is 35.40%.
Cabot Oil & Gas announced that its board has authorized a stock buyback program on Friday, July 26th that permits the company to buyback 25,000,000 outstanding shares. This buyback authorization permits the oil and gas exploration company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, Director Rhys J. Best purchased 7,500 shares of Cabot Oil & Gas stock in a transaction dated Friday, August 16th. The shares were bought at an average cost of $16.31 per share, for a total transaction of $122,325.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dan O. Dinges purchased 16,755 shares of Cabot Oil & Gas stock in a transaction dated Friday, August 16th. The shares were purchased at an average price of $16.28 per share, for a total transaction of $272,771.40. Following the completion of the acquisition, the chief executive officer now owns 3,104,405 shares of the company’s stock, valued at approximately $50,539,713.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 44,255 shares of company stock worth $721,896. Company insiders own 1.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of COG. Stonebridge Capital Advisors LLC acquired a new position in shares of Cabot Oil & Gas in the second quarter worth approximately $26,000. North Star Investment Management Corp. acquired a new position in shares of Cabot Oil & Gas in the third quarter worth approximately $29,000. Quest Capital Management Inc. ADV acquired a new position in shares of Cabot Oil & Gas in the third quarter worth approximately $37,000. Carroll Financial Associates Inc. lifted its stake in shares of Cabot Oil & Gas by 50.4% in the second quarter. Carroll Financial Associates Inc. now owns 1,806 shares of the oil and gas exploration company’s stock worth $41,000 after acquiring an additional 605 shares during the period. Finally, First Interstate Bank lifted its stake in shares of Cabot Oil & Gas by 278.6% in the second quarter. First Interstate Bank now owns 1,893 shares of the oil and gas exploration company’s stock worth $43,000 after acquiring an additional 1,393 shares during the period. 96.30% of the stock is currently owned by institutional investors.
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.
Read More: Why is the ROA ratio important?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cabot Oil & Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot Oil & Gas and related companies with MarketBeat.com's FREE daily email newsletter.