Zacks Investment Research downgraded shares of Cabot Oil & Gas (NYSE:COG) from a buy rating to a hold rating in a research report report published on Tuesday morning.

According to Zacks, “Cabot Oil & Gas' large acreage holdings in the fast-growing Marcellus and the Eagle Ford Shale supports several years of drilling. We believe Cabot’s execution success, continued expense management and improving well economics will further enhance its outlook. A relatively low risk profile and longer reserve lives are other positives. Recently, the company gave investors another reason to cheer after it announced an increase to its dividend. However, being a natural gas-weighted company, Cabot continues to reel under the effects of the commodity's price struggles. As it is, delays in the development of the Constitution pipeline keep us worried. Considering these factors, we see limited upside from current levels that forms the basis of our cautious stance.”

COG has been the subject of a number of other research reports. Morgan Stanley reissued a sell rating on shares of Cabot Oil & Gas in a report on Thursday, December 14th. Williams Capital set a $30.00 price target on Cabot Oil & Gas and gave the company a hold rating in a research report on Thursday, December 21st. Scotiabank restated a buy rating on shares of Cabot Oil & Gas in a research report on Wednesday, November 22nd. BMO Capital Markets restated a buy rating and issued a $31.00 price target on shares of Cabot Oil & Gas in a research report on Tuesday, February 27th. Finally, ValuEngine lowered Cabot Oil & Gas from a hold rating to a sell rating in a research report on Monday, February 5th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $31.16.

Cabot Oil & Gas (NYSE COG) opened at $24.99 on Tuesday. Cabot Oil & Gas has a fifty-two week low of $21.40 and a fifty-two week high of $29.57. The company has a market capitalization of $11,542.69, a P/E ratio of 51.12, a price-to-earnings-growth ratio of 0.75 and a beta of 0.45. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.48.

Cabot Oil & Gas (NYSE:COG) last announced its earnings results on Friday, February 23rd. The oil and gas exploration company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Cabot Oil & Gas had a return on equity of 8.60% and a net margin of 5.69%. The business had revenue of $400.50 million during the quarter, compared to analysts’ expectations of $422.12 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The business’s revenue was up 26.5% compared to the same quarter last year. equities research analysts expect that Cabot Oil & Gas will post 1.11 EPS for the current fiscal year.

Cabot Oil & Gas declared that its Board of Directors has authorized a stock repurchase program on Friday, February 23rd that allows the company to repurchase 30,000,000 shares. This repurchase authorization allows the oil and gas exploration company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

A number of institutional investors have recently modified their holdings of COG. Advisors Asset Management Inc. purchased a new position in Cabot Oil & Gas in the third quarter worth approximately $130,000. Glenmede Trust Co. NA boosted its position in shares of Cabot Oil & Gas by 119.3% during the fourth quarter. Glenmede Trust Co. NA now owns 5,008 shares of the oil and gas exploration company’s stock worth $143,000 after buying an additional 2,724 shares during the period. MHI Funds LLC purchased a new position in shares of Cabot Oil & Gas during the fourth quarter worth $147,000. Avestar Capital LLC purchased a new position in shares of Cabot Oil & Gas during the fourth quarter worth $151,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of Cabot Oil & Gas during the fourth quarter worth $186,000. Institutional investors own 98.57% of the company’s stock.

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Cabot Oil & Gas Company Profile

Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties. The Company operates in the segment of natural gas and oil development, exploitation, exploration and production, in the continental United States. Its assets are concentrated in areas with known hydrocarbon resources, which are conducive to multi-well, repeatable drilling programs.

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