Cabot Oil & Gas (COG) Rating Reiterated by Williams Capital
Cabot Oil & Gas (NYSE:COG)‘s stock had its “hold” rating reaffirmed by equities research analysts at Williams Capital in a research report issued on Sunday, AnalystRatings.com reports. They presently have a $28.00 price target on the oil and gas exploration company’s stock. Williams Capital’s price objective indicates a potential upside of 7.65% from the stock’s current price.
The analysts wrote, “We maintain our Hold on valuaon (7.6x and 7.4x 2019 and 2020 EV/EBITDA, respec vely, a 2.4x premium to its peer average), especially following the recent outperformance (up 16.4% YTD vs. peers which are up an average of 4.9%). Strong 1Q19 results. COG reported clean EPS and DCFPS of $0.73/$1.20, above our esmates of $0.66/$1.15 and Consensus of $0.64/$1.10. 1Q19 EBITDA was $513.7 million, above our esmate of $494.6 million and Consensus of $477.9 million. 1Q19 producon was 2,276.0 Mmcf/d, 0.5% above our esmate of 2,265.4 Mmcf/d but in line with Consensus of 2,276.8 Mmcf/d. Moreover, the Company achieved the top-end of its guidance with 14 net compleons, below our esmate of 15 net compleons. 1Q1 9 realized natural gas price was $3.35/Mcf, slightly below our esmate of $3.37/Mcf.””
Several other analysts have also weighed in on COG. Cowen began coverage on shares of Cabot Oil & Gas in a research note on Tuesday, April 9th. They issued an “outperform” rating and a $32.00 price objective for the company. Zacks Investment Research upgraded shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Tuesday, April 2nd. Jefferies Financial Group raised shares of Cabot Oil & Gas from a “hold” rating to a “buy” rating and boosted their price target for the stock from $25.00 to $29.00 in a report on Monday, January 7th. Guggenheim set a $27.00 price objective on shares of Cabot Oil & Gas and gave the company a “hold” rating in a report on Friday, February 22nd. Finally, ValuEngine raised shares of Cabot Oil & Gas from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $28.95.
Cabot Oil & Gas (NYSE:COG) last released its earnings results on Friday, February 22nd. The oil and gas exploration company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.03). Cabot Oil & Gas had a net margin of 25.46% and a return on equity of 23.35%. The firm had revenue of $716.30 million during the quarter, compared to the consensus estimate of $659.51 million. During the same period in the prior year, the business earned $0.13 earnings per share. Cabot Oil & Gas’s quarterly revenue was up 78.9% compared to the same quarter last year. As a group, equities research analysts expect that Cabot Oil & Gas will post 1.93 earnings per share for the current year.
In other Cabot Oil & Gas news, insider Jeffrey W. Hutton sold 150,720 shares of the firm’s 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 completion of the transaction, the insider now owns 629,270 shares of the company’s stock, valued at $16,430,239.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.90% of the company’s stock.
A number of institutional investors have recently made changes to their positions in COG. Paragon Capital Management LLC bought a new position in shares of Cabot Oil & Gas during the first quarter valued at $26,000. Carroll Financial Associates Inc. lifted its holdings in Cabot Oil & Gas by 192.9% in the 1st quarter. Carroll Financial Associates Inc. now owns 1,201 shares of the oil and gas exploration company’s stock worth $31,000 after purchasing an additional 791 shares in the last quarter. Whittier Trust Co. lifted its holdings in Cabot Oil & Gas by 97.2% in the 4th quarter. Whittier Trust Co. now owns 1,430 shares of the oil and gas exploration company’s stock worth $32,000 after purchasing an additional 705 shares in the last quarter. Advisory Services Network LLC purchased a new position in Cabot Oil & Gas in the 4th quarter worth approximately $40,000. Finally, Lavaca Capital LLC purchased a new position in Cabot Oil & Gas in the 4th quarter worth approximately $45,000. 94.88% of the stock is owned by institutional investors and hedge funds.
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 174,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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