Cabot Oil & Gas (COG) Earns Neutral Rating from Analysts at MKM Partners

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MKM Partners began coverage on shares of Cabot Oil & Gas (NYSE:COG) in a research note released on Wednesday, MarketBeat.com reports. The firm issued a neutral rating and a $27.00 price objective on the oil and gas exploration company’s stock.

Several other research analysts also recently weighed in on COG. Evercore ISI upgraded Cabot Oil & Gas from an in-line rating to an outperform rating and upped their price target for the stock from $28.00 to $30.00 in a research note on Friday, September 7th. Morgan Stanley downgraded Cabot Oil & Gas from an overweight rating to an equal weight rating and dropped their price target for the stock from $29.00 to $23.00 in a research note on Wednesday, September 26th. Piper Jaffray Companies set a $26.00 price target on Cabot Oil & Gas and gave the stock a buy rating in a research note on Monday, October 8th. Zacks Investment Research downgraded Cabot Oil & Gas from a hold rating to a sell rating in a research note on Tuesday, October 9th. Finally, ValuEngine upgraded Cabot Oil & Gas from a sell rating to a hold rating in a research note on Tuesday, October 9th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $28.37.

COG stock opened at $25.23 on Wednesday. Cabot Oil & Gas has a 1-year low of $20.94 and a 1-year high of $29.56. The company has a quick ratio of 1.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $10.87 billion, a price-to-earnings ratio of 52.56, a price-to-earnings-growth ratio of 0.80 and a beta of 0.30.

Cabot Oil & Gas (NYSE:COG) last posted its quarterly earnings results on Friday, October 26th. The oil and gas exploration company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). Cabot Oil & Gas had a return on equity of 14.87% and a net margin of 12.69%. The business had revenue of $545.10 million during the quarter, compared to the consensus estimate of $482.74 million. During the same quarter in the previous year, the company earned $0.07 earnings per share. The company’s revenue for the quarter was up 41.4% compared to the same quarter last year. On average, sell-side analysts expect that Cabot Oil & Gas will post 1.05 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 16th. Stockholders of record on Wednesday, November 7th were given a dividend of $0.07 per share. This is an increase from Cabot Oil & Gas’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Tuesday, November 6th. Cabot Oil & Gas’s dividend payout ratio is currently 58.33%.

Several hedge funds and other institutional investors have recently bought and sold shares of COG. Cornerstone Wealth Management LLC bought a new position in shares of Cabot Oil & Gas during the 2nd quarter valued at approximately $324,000. Piedmont Investment Advisors LLC purchased a new stake in Cabot Oil & Gas during the 2nd quarter valued at $123,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Cabot Oil & Gas by 4.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,433,898 shares of the oil and gas exploration company’s stock valued at $34,127,000 after buying an additional 63,779 shares during the period. Chevy Chase Trust Holdings Inc. purchased a new stake in Cabot Oil & Gas during the 2nd quarter valued at $9,038,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Cabot Oil & Gas during the 2nd quarter valued at $2,119,000.

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 172,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; and the Eagle Ford Shale with approximately 79,000 net acres in the oil window of the play located in Atascosa, Frio, and La Salle Counties, Texas.

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

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