Seaport Global Securities Reiterates “Buy” Rating for Cabot Oil & Gas (COG)
Seaport Global Securities restated their buy rating on shares of Cabot Oil & Gas (NYSE:COG) in a report issued on Tuesday morning. Seaport Global Securities also issued estimates for Cabot Oil & Gas’ FY2018 earnings at $1.08 EPS.
Other research analysts also recently issued reports about the stock. Citigroup downgraded shares of Cabot Oil & Gas from a buy rating to a neutral rating and lifted their price target for the stock from $23.96 to $25.00 in a research note on Tuesday, April 17th. Morgan Stanley decreased their price target on shares of Cabot Oil & Gas from $33.00 to $31.00 and set an overweight rating on the stock in a research note on Friday, April 20th. Piper Jaffray set a $36.00 price target on shares of Cabot Oil & Gas and gave the stock a buy rating in a research note on Wednesday, March 14th. Jefferies Group reissued a hold rating and set a $25.00 price target on shares of Cabot Oil & Gas in a research note on Monday, March 19th. Finally, Tudor Pickering raised shares of Cabot Oil & Gas from a hold rating to a buy rating in a research note on Monday, February 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. Cabot Oil & Gas has a consensus rating of Buy and a consensus target price of $30.85.
Shares of COG stock traded up $0.15 during trading hours on Tuesday, hitting $23.62. 6,084,031 shares of the company’s stock were exchanged, compared to its average volume of 5,111,277. The company has a market capitalization of $10,814.65, a PE ratio of 49.21, a price-to-earnings-growth ratio of 0.78 and a beta of 0.40. Cabot Oil & Gas has a 12-month low of $21.40 and a 12-month high of $29.57. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.20 and a current ratio of 1.21.
Cabot Oil & Gas announced that its board has authorized a stock repurchase plan on Friday, February 23rd that authorizes the company to repurchase 30,000,000 outstanding shares. This repurchase authorization authorizes the oil and gas exploration company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
Large investors have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA boosted its holdings in Cabot Oil & Gas by 119.3% in the fourth quarter. Glenmede Trust Co. NA now owns 5,008 shares of the oil and gas exploration company’s stock valued at $143,000 after acquiring an additional 2,724 shares in the last quarter. MHI Funds LLC bought a new stake in Cabot Oil & Gas in the fourth quarter valued at $147,000. Avestar Capital LLC bought a new stake in Cabot Oil & Gas in the fourth quarter valued at $151,000. Fuller & Thaler Asset Management Inc. bought a new stake in Cabot Oil & Gas in the fourth quarter valued at $186,000. Finally, Calamos Advisors LLC bought a new stake in Cabot Oil & Gas in the fourth quarter valued at $202,000. Institutional investors and hedge funds own 98.52% of the company’s stock.
Cabot Oil & Gas Company Profile
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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