Zacks: Analysts Expect Cabot Oil & Gas Co. (NYSE:COG) Will Post Quarterly Sales of $299.43 Million

Brokerages predict that Cabot Oil & Gas Co. (NYSE:COG) will announce sales of $299.43 million for the current quarter, Zacks reports. Five analysts have issued estimates for Cabot Oil & Gas’ earnings, with the highest sales estimate coming in at $315.28 million and the lowest estimate coming in at $287.65 million. Cabot Oil & Gas posted sales of $534.12 million in the same quarter last year, which would indicate a negative year over year growth rate of 43.9%. The business is expected to report its next quarterly earnings results on Friday, July 24th.

On average, analysts expect that Cabot Oil & Gas will report full year sales of $1.54 billion for the current fiscal year, with estimates ranging from $1.44 billion to $1.63 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.98 billion, with estimates ranging from $1.79 billion to $2.15 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Cabot Oil & Gas.

Cabot Oil & Gas (NYSE:COG) last posted its earnings results on Thursday, April 30th. The oil and gas exploration company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. Cabot Oil & Gas had a net margin of 26.07% and a return on equity of 18.70%. The firm had revenue of $386.46 million for the quarter, compared to analysts’ expectations of $383.19 million. During the same quarter in the previous year, the firm posted $0.73 earnings per share. The company’s revenue was down 39.8% on a year-over-year basis.

COG has been the topic of a number of recent research reports. Bank of America cut Cabot Oil & Gas from a “neutral” rating to an “underperform” rating in a report on Monday, April 20th. Susquehanna Bancshares raised shares of Cabot Oil & Gas from a “neutral” rating to a “positive” rating and set a $22.00 target price on the stock in a report on Monday, March 16th. TD Securities upped their price target on shares of Cabot Oil & Gas from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, May 1st. Piper Sandler decreased their price target on shares of Cabot Oil & Gas from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. Finally, Siebert Williams Shank restated a “hold” rating and issued a $22.00 price target on shares of Cabot Oil & Gas in a research report on Friday, May 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. Cabot Oil & Gas presently has a consensus rating of “Hold” and an average target price of $21.00.

COG stock traded down $0.60 during midday trading on Friday, reaching $16.57. 9,560,212 shares of the stock were exchanged, compared to its average volume of 6,367,343. Cabot Oil & Gas has a 52 week low of $13.06 and a 52 week high of $24.12. The company has a fifty day moving average price of $19.38 and a 200 day moving average price of $17.49. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.40 and a quick ratio of 1.35. The stock has a market capitalization of $6.60 billion, a PE ratio of 14.41 and a beta of 0.24.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nissay Asset Management Corp Japan ADV boosted its stake in Cabot Oil & Gas by 1.3% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 38,313 shares of the oil and gas exploration company’s stock worth $659,000 after acquiring an additional 510 shares in the last quarter. CSat Investment Advisory L.P. boosted its stake in Cabot Oil & Gas by 12.5% during the first quarter. CSat Investment Advisory L.P. now owns 4,790 shares of the oil and gas exploration company’s stock worth $83,000 after acquiring an additional 534 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in Cabot Oil & Gas by 1.5% during the first quarter. Eagle Asset Management Inc. now owns 35,336 shares of the oil and gas exploration company’s stock worth $607,000 after acquiring an additional 536 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV boosted its stake in Cabot Oil & Gas by 2.0% during the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 35,104 shares of the oil and gas exploration company’s stock worth $603,000 after acquiring an additional 685 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Cabot Oil & Gas by 0.4% during the first quarter. Victory Capital Management Inc. now owns 219,627 shares of the oil and gas exploration company’s stock worth $3,775,000 after acquiring an additional 801 shares in the last quarter. 94.49% of the stock is currently 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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Earnings History and Estimates for Cabot Oil & Gas (NYSE:COG)

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