Zacks: Brokerages Expect Cabot Oil & Gas Co. (COG) to Announce $0.17 Earnings Per Share

Equities analysts expect that Cabot Oil & Gas Co. (NYSE:COG) will report earnings of $0.17 per share for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Cabot Oil & Gas Co.’s earnings, with the lowest EPS estimate coming in at $0.11 and the highest estimate coming in at $0.24. Cabot Oil & Gas Co. reported earnings per share of ($0.15) during the same quarter last year, which would indicate a positive year-over-year growth rate of 213.3%. The company is expected to announce its next earnings report before the market opens on Friday, April 28th.

On average, analysts expect that Cabot Oil & Gas Co. will report full year earnings of $0.59 per share for the current financial year, with EPS estimates ranging from $0.31 to $0.85. For the next fiscal year, analysts anticipate that the company will report earnings of $0.87 per share, with EPS estimates ranging from $0.59 to $1.24. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Cabot Oil & Gas Co..

Cabot Oil & Gas Co. (NYSE:COG) last issued its quarterly earnings data on Friday, February 24th. The oil and gas exploration company reported $0.01 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.01. The company had revenue of $316.50 million for the quarter, compared to analyst estimates of $358.55 million. Cabot Oil & Gas Co. had a negative net margin of 21.03% and a negative return on equity of 4.68%. The company’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.02) earnings per share.

Several research firms recently weighed in on COG. Raymond James Financial, Inc. restated an “outperform” rating on shares of Cabot Oil & Gas Co. in a research report on Friday. Jefferies Group LLC restated a “hold” rating and issued a $24.00 price objective on shares of Cabot Oil & Gas Co. in a research report on Tuesday. Susquehanna Bancshares Inc upped their price objective on shares of Cabot Oil & Gas Co. and gave the stock a “neutral” rating in a research report on Tuesday, February 7th. Scotiabank set a $29.00 price objective on shares of Cabot Oil & Gas Co. and gave the stock a “buy” rating in a research report on Monday, February 6th. Finally, Deutsche Bank AG upped their price objective on shares of Cabot Oil & Gas Co. from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Tuesday, March 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. Cabot Oil & Gas Co. presently has a consensus rating of “Buy” and an average target price of $28.12.

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Shares of Cabot Oil & Gas Co. (NYSE:COG) traded down 1.59% during trading on Tuesday, hitting $24.08. 7,291,519 shares of the stock traded hands. Cabot Oil & Gas Co. has a 1-year low of $20.02 and a 1-year high of $26.74. The stock has a 50 day moving average price of $23.43 and a 200-day moving average price of $22.76. The stock’s market cap is $11.20 billion.

Several hedge funds have recently added to or reduced their stakes in COG. Sanders Capital LLC raised its stake in Cabot Oil & Gas Co. by 46.1% in the third quarter. Sanders Capital LLC now owns 17,933,061 shares of the oil and gas exploration company’s stock worth $472,013,000 after buying an additional 5,660,006 shares during the period. Capital World Investors raised its stake in Cabot Oil & Gas Co. by 3,602.9% in the third quarter. Capital World Investors now owns 5,036,000 shares of the oil and gas exploration company’s stock worth $129,929,000 after buying an additional 4,900,000 shares during the period. SailingStone Capital Partners LLC raised its stake in Cabot Oil & Gas Co. by 51.4% in the fourth quarter. SailingStone Capital Partners LLC now owns 14,101,113 shares of the oil and gas exploration company’s stock worth $329,402,000 after buying an additional 4,785,111 shares during the period. Norges Bank bought a new stake in Cabot Oil & Gas Co. during the fourth quarter worth $84,487,000. Finally, Russell Investments Group Ltd. bought a new stake in Cabot Oil & Gas Co. during the fourth quarter worth $72,342,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

About Cabot Oil & Gas Co.

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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