Zacks: Brokerages Expect Cabot Oil & Gas Co. (NYSE:COG) Will Post Quarterly Sales of $299.43 Million

Analysts expect that Cabot Oil & Gas Co. (NYSE:COG) will announce sales of $299.43 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Cabot Oil & Gas’ earnings. The lowest sales estimate is $287.65 million and the highest is $315.28 million. Cabot Oil & Gas reported sales of $534.12 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 43.9%. The firm is expected to report its next quarterly earnings results on Friday, July 24th.

According to Zacks, analysts expect that Cabot Oil & Gas will report full year sales of $1.54 billion for the current year, with estimates ranging from $1.44 billion to $1.63 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.98 billion, with estimates ranging from $1.79 billion to $2.15 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Cabot Oil & Gas.

Cabot Oil & Gas (NYSE:COG) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas exploration company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. Cabot Oil & Gas had a return on equity of 18.70% and a net margin of 26.07%. The business had revenue of $386.46 million during the quarter, compared to analysts’ expectations of $383.19 million. During the same quarter last year, the business posted $0.73 earnings per share. The business’s revenue for the quarter was down 39.8% on a year-over-year basis.

COG has been the subject of a number of research analyst reports. Siebert Williams Shank restated a “hold” rating and issued a $22.00 price target on shares of Cabot Oil & Gas in a research report on Friday, May 1st. Tudor Pickering cut Cabot Oil & Gas from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Susquehanna Bancshares upgraded Cabot Oil & Gas from a “neutral” rating to a “positive” rating and set a $22.00 price objective for the company in a research report on Monday, March 16th. TD Securities lifted their price objective on Cabot Oil & Gas from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. Finally, TheStreet upgraded Cabot Oil & Gas from a “c” rating to a “b-” rating in a research report on Thursday, April 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $21.00.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Royal Fund Management LLC acquired a new position in Cabot Oil & Gas in the first quarter valued at $28,000. BDO Wealth Advisors LLC purchased a new position in shares of Cabot Oil & Gas in the 1st quarter worth about $28,000. Versant Capital Management Inc lifted its stake in shares of Cabot Oil & Gas by 100.5% in the 1st quarter. Versant Capital Management Inc now owns 1,722 shares of the oil and gas exploration company’s stock valued at $29,000 after purchasing an additional 863 shares in the last quarter. Covington Capital Management lifted its stake in shares of Cabot Oil & Gas by 168.3% in the 4th quarter. Covington Capital Management now owns 1,945 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 1,220 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Cabot Oil & Gas by 421.0% during the 1st quarter. Signaturefd LLC now owns 2,610 shares of the oil and gas exploration company’s stock worth $45,000 after purchasing an additional 2,109 shares during the period. 94.49% of the stock is currently owned by institutional investors and hedge funds.

Shares of COG stock traded down $0.60 during mid-day trading on Friday, reaching $16.57. The stock had a trading volume of 9,560,212 shares, compared to its average volume of 6,367,343. Cabot Oil & Gas has a 12-month low of $13.06 and a 12-month high of $24.12. The company has a market cap of $6.60 billion, a P/E ratio of 14.41 and a beta of 0.24. The business has a 50-day simple moving average of $19.38 and a 200 day simple moving average of $17.49. The company has a current ratio of 1.40, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48.

About Cabot Oil & Gas

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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Earnings History and Estimates for Cabot Oil & Gas (NYSE:COG)

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