$666.58 Million in Sales Expected for Cabot Oil & Gas Co. (COG) This Quarter
Equities research analysts expect that Cabot Oil & Gas Co. (NYSE:COG) will report $666.58 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Cabot Oil & Gas’ earnings, with estimates ranging from $605.70 million to $787.00 million. Cabot Oil & Gas posted sales of $473.23 million in the same quarter last year, which would indicate a positive year over year growth rate of 40.9%. The business is scheduled to report its next earnings results before the market opens on Friday, April 26th.
On average, analysts expect that Cabot Oil & Gas will report full year sales of $2.39 billion for the current year, with estimates ranging from $2.27 billion to $2.46 billion. For the next financial year, analysts expect that the business will post sales of $2.45 billion, with estimates ranging from $2.08 billion to $2.61 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Cabot Oil & Gas.
Cabot Oil & Gas (NYSE:COG) last issued its earnings results on Friday, February 22nd. The oil and gas exploration company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Cabot Oil & Gas had a return on equity of 23.35% and a net margin of 25.46%. The business had revenue of $716.30 million for the quarter, compared to analysts’ expectations of $659.51 million. During the same period last year, the company posted $0.13 earnings per share. The business’s quarterly revenue was up 78.9% on a year-over-year basis.
In other Cabot Oil & Gas news, insider Jeffrey W. Hutton sold 150,720 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $26.11, for a total transaction of $3,935,299.20. Following the sale, the insider now owns 629,270 shares in the company, valued at approximately $16,430,239.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.90% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of COG. Mackenzie Financial Corp boosted its holdings in shares of Cabot Oil & Gas by 2,315.2% during the third quarter. Mackenzie Financial Corp now owns 5,035,555 shares of the oil and gas exploration company’s stock worth $113,401,000 after purchasing an additional 4,827,058 shares during the last quarter. Norges Bank purchased a new position in Cabot Oil & Gas in the fourth quarter valued at about $76,512,000. Anchor Bolt Capital LP purchased a new position in Cabot Oil & Gas in the fourth quarter valued at about $47,515,000. Bank of New York Mellon Corp raised its position in Cabot Oil & Gas by 13.4% in the third quarter. Bank of New York Mellon Corp now owns 12,440,907 shares of the oil and gas exploration company’s stock valued at $280,169,000 after purchasing an additional 1,472,233 shares during the period. Finally, Point72 Asset Management L.P. raised its position in Cabot Oil & Gas by 30.6% in the third quarter. Point72 Asset Management L.P. now owns 4,454,475 shares of the oil and gas exploration company’s stock valued at $100,315,000 after purchasing an additional 1,043,847 shares during the period. Institutional investors and hedge funds own 94.88% of the company’s stock.
NYSE COG traded down $0.91 during mid-day trading on Friday, hitting $26.13. The stock had a trading volume of 5,551,263 shares, compared to its average volume of 5,767,513. Cabot Oil & Gas has a 52-week low of $20.94 and a 52-week high of $27.65. The company has a market capitalization of $11.35 billion, a P/E ratio of 23.12, a PEG ratio of 0.40 and a beta of 0.62. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.90 and a quick ratio of 1.86.
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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