$573.69 Million in Sales Expected for Cabot Oil & Gas Co. (COG) This Quarter
Brokerages expect Cabot Oil & Gas Co. (NYSE:COG) to announce $573.69 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Cabot Oil & Gas’ earnings, with estimates ranging from $531.00 million to $663.84 million. Cabot Oil & Gas posted sales of $400.50 million during the same quarter last year, which would indicate a positive year over year growth rate of 43.2%. The firm is expected to report its next quarterly earnings report on Friday, February 22nd.
According to Zacks, analysts expect that Cabot Oil & Gas will report full year sales of $1.96 billion for the current financial year, with estimates ranging from $1.80 billion to $2.15 billion. For the next financial year, analysts expect that the firm will post sales of $2.34 billion, with estimates ranging from $2.23 billion to $2.49 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Cabot Oil & Gas.
Cabot Oil & Gas (NYSE:COG) last posted its earnings results on Friday, October 26th. The oil and gas exploration company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.03). Cabot Oil & Gas had a return on equity of 14.87% and a net margin of 12.69%. The firm had revenue of $545.10 million for the quarter, compared to analysts’ expectations of $482.74 million. During the same period in the previous year, the company earned $0.07 earnings per share. The company’s revenue was up 41.4% compared to the same quarter last year.
Shares of COG stock traded up $0.38 during mid-day trading on Friday, hitting $25.61. 7,597,912 shares of the stock were exchanged, compared to its average volume of 7,934,987. The company has a quick ratio of 1.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.58. Cabot Oil & Gas has a 52-week low of $20.94 and a 52-week high of $29.57. The firm has a market cap of $10.98 billion, a P/E ratio of 53.35, a PEG ratio of 0.82 and a beta of 0.27.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Wednesday, November 7th will be issued a $0.07 dividend. This is an increase from Cabot Oil & Gas’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $0.28 dividend on an annualized basis and a yield of 1.09%. Cabot Oil & Gas’s dividend payout ratio is presently 58.33%.
Hedge funds have recently added to or reduced their stakes in the business. Piedmont Investment Advisors LLC acquired a new stake in Cabot Oil & Gas in the 2nd quarter valued at about $123,000. Cornerstone Wealth Management LLC acquired a new stake in shares of Cabot Oil & Gas during the 2nd quarter worth approximately $324,000. Cerebellum GP LLC increased its holdings in shares of Cabot Oil & Gas by 198.9% during the 3rd quarter. Cerebellum GP LLC now owns 7,671 shares of the oil and gas exploration company’s stock worth $173,000 after buying an additional 5,105 shares during the last quarter. Parkwood LLC acquired a new stake in shares of Cabot Oil & Gas during the 2nd quarter worth approximately $212,000. Finally, Welch & Forbes LLC acquired a new stake in shares of Cabot Oil & Gas during the 2nd quarter worth approximately $214,000. Institutional investors own 96.03% of the company’s stock.
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 172,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; and the Eagle Ford Shale with approximately 79,000 net acres in the oil window of the play located in Atascosa, Frio, and La Salle Counties, Texas.
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