Cabot Oil & Gas (NYSE:COG) Shares Down 3.8%


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Cabot Oil & Gas Co. (NYSE:COG) shares dropped 3.8% on Thursday . The company traded as low as $17.78 and last traded at $17.78. Approximately 207,600 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 5,836,215 shares. The stock had previously closed at $18.48.

A number of analysts have recently commented on COG shares. TheStreet raised shares of Cabot Oil & Gas from a “c” rating to a “b-” rating in a research report on Tuesday, February 23rd. The Goldman Sachs Group initiated coverage on shares of Cabot Oil & Gas in a report on Tuesday, March 23rd. They issued a “neutral” rating and a $17.50 price objective on the stock. Piper Sandler reiterated a “neutral” rating and issued a $20.00 price objective on shares of Cabot Oil & Gas in a report on Monday, March 22nd. Johnson Rice reiterated a “hold” rating and issued a $21.00 price objective on shares of Cabot Oil & Gas in a report on Monday, March 15th. Finally, Zacks Investment Research upgraded shares of Cabot Oil & Gas from a “sell” rating to a “hold” rating and set a $20.00 price objective on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $20.12.

The firm has a 50 day simple moving average of $18.68 and a two-hundred day simple moving average of $18.01. The company has a quick ratio of 0.80, a current ratio of 0.84 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $7.05 billion, a P/E ratio of 29.81 and a beta of 0.16.

Cabot Oil & Gas (NYSE:COG) last released its earnings results on Monday, February 22nd. The oil and gas exploration company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.05. Cabot Oil & Gas had a return on equity of 8.84% and a net margin of 16.73%. The firm had revenue of $456.78 million during the quarter, compared to analysts’ expectations of $409.37 million. During the same period in the prior year, the company earned $0.30 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. On average, research analysts predict that Cabot Oil & Gas Co. will post 0.52 earnings per share for the current year.

In other news, Treasurer Matthew P. Kerin sold 19,000 shares of the company’s stock in a transaction on Thursday, March 11th. The shares were sold at an average price of $19.40, for a total transaction of $368,600.00. Also, insider Steven W. Lindeman sold 35,500 shares of the company’s stock in a transaction on Thursday, March 11th. The stock was sold at an average price of $19.34, for a total transaction of $686,570.00. 2.10% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Eudaimonia Partners LLC acquired a new position in shares of Cabot Oil & Gas during the third quarter worth $41,000. ProShare Advisors LLC boosted its position in Cabot Oil & Gas by 0.6% during the fourth quarter. ProShare Advisors LLC now owns 104,219 shares of the oil and gas exploration company’s stock valued at $1,697,000 after acquiring an additional 576 shares during the last quarter. Xponance Inc. boosted its position in Cabot Oil & Gas by 4.4% during the fourth quarter. Xponance Inc. now owns 16,928 shares of the oil and gas exploration company’s stock valued at $276,000 after acquiring an additional 717 shares during the last quarter. Scotia Capital Inc. boosted its position in Cabot Oil & Gas by 6.1% during the fourth quarter. Scotia Capital Inc. now owns 12,838 shares of the oil and gas exploration company’s stock valued at $209,000 after acquiring an additional 741 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Cabot Oil & Gas by 4.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 20,291 shares of the oil and gas exploration company’s stock valued at $330,000 after acquiring an additional 924 shares during the last quarter. Institutional investors own 96.91% of the company’s stock.

Cabot Oil & Gas Company Profile (NYSE:COG)

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 175,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

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