Cabot Oil & Gas Corporation (NYSE:COG) Lowered to “Sell” at Zacks Investment Research

Cabot Oil & Gas Corporation (NYSE:COG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, July 18th.

According to Zacks, “Based on the number of near-term challenges, we are lowering our investment thesis for Cabot Oil & Gas to Sell from Hold. With natural gas unable to break through the $3 barrier, the company’s earnings and cash flows are bound to suffer, at least in the near-to-medium term. This is expected to limit its ability to deliver positive earnings surprises. High spending and project delays are also causes for concern. Considering these factors, we see Cabot as a risky bet.”

Other research analysts also recently issued research reports about the company. Scotiabank set a $28.00 price objective on Cabot Oil & Gas Corporation and gave the stock a “buy” rating in a report on Monday, March 27th. Stifel Nicolaus started coverage on Cabot Oil & Gas Corporation in a report on Thursday, March 23rd. They set a “buy” rating and a $30.00 price target on the stock. Williams Capital reaffirmed a “buy” rating and set a $32.00 price objective on shares of Cabot Oil & Gas Corporation in a research report on Friday, April 28th. BMO Capital Markets reaffirmed a “buy” rating and set a $33.00 price objective on shares of Cabot Oil & Gas Corporation in a research report on Monday, May 15th. Finally, Bank of America Corporation raised Cabot Oil & Gas Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $28.00 to $32.00 in a research report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $29.40.

Shares of Cabot Oil & Gas Corporation (COG) traded up 1.27% during trading on Tuesday, reaching $25.50. The company’s stock had a trading volume of 8,282,555 shares. Cabot Oil & Gas Corporation has a 12-month low of $20.02 and a 12-month high of $26.74. The stock’s 50-day moving average is $24.31 and its 200-day moving average is $23.43. The stock’s market cap is $11.85 billion.

Cabot Oil & Gas Corporation (NYSE:COG) last released its quarterly earnings results on Thursday, July 27th. The oil and gas exploration company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. Cabot Oil & Gas Corporation had a negative net margin of 18.70% and a positive return on equity of 1.05%. The firm had revenue of $460.50 million for the quarter, compared to analysts’ expectations of $454.76 million. During the same quarter in the previous year, the business earned ($0.07) EPS. The company’s revenue for the quarter was up 86.6% on a year-over-year basis. Equities research analysts anticipate that Cabot Oil & Gas Corporation will post $0.64 earnings per share for the current fiscal year.

In other Cabot Oil & Gas Corporation news, insider Todd M. Roemer sold 3,737 shares of the business’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $24.12, for a total transaction of $90,136.44. Following the completion of the sale, the insider now directly owns 62,453 shares in the company, valued at approximately $1,506,366.36. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.60% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the stock. First Manhattan Co. purchased a new stake in Cabot Oil & Gas Corporation during the first quarter valued at $100,000. Financial Architects Inc boosted its stake in Cabot Oil & Gas Corporation by 24.4% in the first quarter. Financial Architects Inc now owns 5,100 shares of the oil and gas exploration company’s stock valued at $122,000 after buying an additional 1,000 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Cabot Oil & Gas Corporation by 83.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 6,800 shares of the oil and gas exploration company’s stock valued at $163,000 after buying an additional 3,100 shares during the last quarter. Crestwood Advisors Group LLC purchased a new stake in Cabot Oil & Gas Corporation during the first quarter valued at $167,000. Finally, Stephens Inc. AR boosted its stake in shares of Cabot Oil & Gas Corporation by 313.6% in the first quarter. Stephens Inc. AR now owns 7,578 shares of the oil and gas exploration company’s stock worth $181,000 after buying an additional 5,746 shares in the last quarter. Institutional investors and hedge funds own 96.10% of the company’s stock.

Cabot Oil & Gas Corporation 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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