Cabot Oil & Gas (NYSE:COG) Lifted to Neutral at Bank of America

Bank of America upgraded shares of Cabot Oil & Gas (NYSE:COG) from an underperform rating to a neutral rating in a research report released on Monday, The Fly reports. They currently have $22.00 target price on the oil and gas exploration company’s stock.

A number of other research analysts have also commented on COG. Wells Fargo & Company lifted their price objective on shares of Cabot Oil & Gas from $22.00 to $23.00 and gave the company an overweight rating in a research note on Thursday, August 13th. TheStreet lowered shares of Cabot Oil & Gas from a b- rating to a c+ rating in a research note on Monday, July 27th. Mizuho started coverage on shares of Cabot Oil & Gas in a research note on Wednesday, July 22nd. They set a neutral rating and a $20.00 price target on the stock. They noted that the move was a valuation call. Northland Securities started coverage on shares of Cabot Oil & Gas in a research note on Monday, September 14th. They set a market perform rating and a $18.00 price target on the stock. Finally, Raymond James dropped their price target on shares of Cabot Oil & Gas from $25.00 to $23.00 and set an outperform rating on the stock in a research note on Monday, July 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $20.68.

Shares of COG opened at $18.39 on Monday. Cabot Oil & Gas has a 1-year low of $13.06 and a 1-year high of $22.67. The stock has a market cap of $7.33 billion, a PE ratio of 22.99 and a beta of 0.22. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.22 and a quick ratio of 1.17. The firm has a fifty day moving average price of $18.69 and a 200 day moving average price of $19.03.

Cabot Oil & Gas (NYSE:COG) last announced its quarterly earnings results on Thursday, October 29th. The oil and gas exploration company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. Cabot Oil & Gas had a net margin of 19.98% and a return on equity of 12.85%. The firm had revenue of $291.10 million during the quarter, compared to analysts’ expectations of $346.89 million. During the same period in the previous year, the company earned $0.29 earnings per share. Cabot Oil & Gas’s quarterly revenue was down 32.2% compared to the same quarter last year. As a group, equities analysts expect that Cabot Oil & Gas will post 0.53 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Thursday, November 12th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.18%. Cabot Oil & Gas’s payout ratio is currently 24.69%.

In other Cabot Oil & Gas news, General Counsel George Kevin Cunningham sold 54,230 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $18.71, for a total transaction of $1,014,643.30. Following the completion of the transaction, the general counsel now owns 52,491 shares in the company, valued at approximately $982,106.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. IFP Advisors Inc grew its stake in Cabot Oil & Gas by 54.9% during the 2nd quarter. IFP Advisors Inc now owns 1,516 shares of the oil and gas exploration company’s stock valued at $26,000 after acquiring an additional 537 shares in the last quarter. American National Bank acquired a new stake in Cabot Oil & Gas in the 2nd quarter worth approximately $41,000. Private Advisor Group LLC acquired a new stake in Cabot Oil & Gas in the 2nd quarter worth approximately $51,000. Nachman Norwood & Parrott Inc acquired a new stake in Cabot Oil & Gas in the 3rd quarter worth approximately $54,000. Finally, SSI Investment Management LLC acquired a new stake in Cabot Oil & Gas in the 2nd quarter worth approximately $32,018,000. Institutional investors and hedge funds own 93.17% of the company’s stock.

About Cabot Oil & Gas

Cabot Oil & Gas Corporation, an independent oil and gas company, explores for, exploits, develops, produces, and markets oil and gas properties in the United States. It primarily focuses on the Marcellus Shale with approximately 173,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

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Analyst Recommendations for Cabot Oil & Gas (NYSE:COG)

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