Trade Report: The Cabot Oil & Gas Corp. (COG) to Post Q3 2016 Earnings of ($0.04) Per Share, Seaport Global Securities Forecasts

The Cabot Oil & Gas Corp. (COG) to Post Q3 2016 Earnings of ($0.04) Per Share, Seaport Global Securities Forecasts

Cabot Oil & Gas Corp. (NYSE:COG) – Investment analysts at Seaport Global Securities reduced their Q3 2016 earnings estimates for Cabot Oil & Gas Corp. in a research report issued to clients and investors on Wednesday. Seaport Global Securities analyst M. Kelly now expects that the firm will earn ($0.04) per share for the quarter, down from their prior estimate of ($0.02). Seaport Global Securities also issued estimates for Cabot Oil & Gas Corp.’s FY2016 earnings at ($0.19) EPS.

Cabot Oil & Gas Corp. (NYSE:COG) last posted its quarterly earnings data on Friday, July 29th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. Cabot Oil & Gas Corp. had a negative return on equity of 4.16% and a negative net margin of 21.59%. The firm earned $246.80 million during the quarter, compared to analysts’ expectations of $270.13 million. During the same period in the prior year, the business earned $0.03 EPS. The company’s revenue for the quarter was down 19.4% compared to the same quarter last year.

COG has been the topic of a number of other reports. Raymond James Financial Inc. upgraded Cabot Oil & Gas Corp. from a “market perform” rating to a “strong-buy” rating and raised their price target for the stock from $25.57 to $30.00 in a research note on Friday, September 23rd. Zacks Investment Research downgraded Cabot Oil & Gas Corp. from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Capital One Financial Corp. reiterated an “equal weight” rating on shares of Cabot Oil & Gas Corp. in a research report on Thursday, July 21st. Scotiabank upgraded Cabot Oil & Gas Corp. from a “sector perform” rating to a “sector outperform” rating and set a $30.00 target price on the stock in a research report on Saturday, August 13th. Finally, GMP Securities assumed coverage on Cabot Oil & Gas Corp. in a research report on Wednesday, September 28th. They set a “buy” rating and a $39.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $27.83.

Cabot Oil & Gas Corp. (NYSE:COG) opened at 22.55 on Friday. The stock has a 50 day moving average price of $24.93 and a 200-day moving average price of $24.45. The stock’s market capitalization is $10.49 billion. Cabot Oil & Gas Corp. has a 12-month low of $14.88 and a 12-month high of $26.74.

Hedge funds have recently made changes to their positions in the stock. State Street Corp raised its stake in shares of Cabot Oil & Gas Corp. by 7.9% in the first quarter. State Street Corp now owns 27,916,714 shares of the oil and gas exploration company’s stock worth $633,983,000 after buying an additional 2,047,634 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Cabot Oil & Gas Corp. by 55.2% in the first quarter. Canada Pension Plan Investment Board now owns 652,186 shares of the oil and gas exploration company’s stock worth $14,811,000 after buying an additional 232,000 shares during the last quarter. Credit Agricole S A raised its stake in shares of Cabot Oil & Gas Corp. by 12.7% in the first quarter. Credit Agricole S A now owns 64,242 shares of the oil and gas exploration company’s stock worth $1,459,000 after buying an additional 7,224 shares during the last quarter. Aviva PLC raised its stake in shares of Cabot Oil & Gas Corp. by 8.7% in the first quarter. Aviva PLC now owns 237,965 shares of the oil and gas exploration company’s stock worth $5,404,000 after buying an additional 19,014 shares during the last quarter. Finally, ING Groep NV purchased a new stake in shares of Cabot Oil & Gas Corp. during the first quarter worth about $239,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

In other Cabot Oil & Gas Corp. news, insider George Kevin Cunningham sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $25.25, for a total transaction of $75,750.00. Following the completion of the transaction, the insider now owns 35,990 shares in the company, valued at $908,747.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.80% of the company’s stock.

Cabot Oil & Gas Corp. Company Profile

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