Equities analysts expect Cabot Oil & Gas Co. (NYSE:COG) to report $480.25 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Cabot Oil & Gas’ earnings, with the lowest sales estimate coming in at $453.00 million and the highest estimate coming in at $535.90 million. Cabot Oil & Gas reported sales of $545.17 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 11.9%. The firm is scheduled to announce its next quarterly earnings results on Friday, October 25th.
On average, analysts expect that Cabot Oil & Gas will report full year sales of $2.21 billion for the current financial year, with estimates ranging from $2.07 billion to $2.46 billion. For the next year, analysts expect that the business will report sales of $2.11 billion, with estimates ranging from $1.78 billion to $2.35 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Cabot Oil & Gas.
Cabot Oil & Gas (NYSE:COG) last announced its quarterly earnings data on Friday, July 26th. The oil and gas exploration company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.05. The business had revenue of $534.12 million for the quarter, compared to analysts’ expectations of $476.10 million. Cabot Oil & Gas had a return on equity of 34.79% and a net margin of 34.51%. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the firm earned $0.13 earnings per share.
In other news, Director Peter B. Delaney acquired 9,000 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were bought at an average price of $19.28 per share, with a total value of $173,520.00. Following the completion of the acquisition, the director now owns 16,925 shares in the company, valued at approximately $326,314. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.90% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC grew its holdings in shares of Cabot Oil & Gas by 13.1% during the first quarter. Janus Henderson Group PLC now owns 1,647,588 shares of the oil and gas exploration company’s stock worth $43,002,000 after purchasing an additional 191,268 shares during the last quarter. Contravisory Investment Management Inc. boosted its stake in shares of Cabot Oil & Gas by 12.0% during the first quarter. Contravisory Investment Management Inc. now owns 13,338 shares of the oil and gas exploration company’s stock worth $348,000 after buying an additional 1,429 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Cabot Oil & Gas by 19.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,501,665 shares of the oil and gas exploration company’s stock worth $33,572,000 after buying an additional 239,959 shares during the period. TD Asset Management Inc. boosted its stake in shares of Cabot Oil & Gas by 4.8% during the first quarter. TD Asset Management Inc. now owns 480,225 shares of the oil and gas exploration company’s stock worth $12,534,000 after buying an additional 22,194 shares during the period. Finally, BP PLC acquired a new stake in shares of Cabot Oil & Gas during the first quarter worth about $1,305,000. 96.20% of the stock is currently owned by institutional investors.
NYSE:COG traded down $0.30 during trading hours on Monday, hitting $17.37. The company’s stock had a trading volume of 5,033,685 shares, compared to its average volume of 9,396,316. The company has a market capitalization of $7.31 billion, a PE ratio of 15.37, a P/E/G ratio of 0.67 and a beta of 0.51. The company has a fifty day simple moving average of $21.72. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.70 and a quick ratio of 2.61. Cabot Oil & Gas has a 52-week low of $16.82 and a 52-week high of $27.65.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Wednesday, August 7th. Cabot Oil & Gas’s payout ratio is 31.86%.
Cabot Oil & Gas declared that its Board of Directors has initiated a stock repurchase program on Friday, July 26th that permits the company to buyback 25,000,000 outstanding shares. This buyback authorization permits the oil and gas exploration company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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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