Raymond James Financial Lowers Cabot Oil & Gas (NYSE:COG) to Sell

Raymond James Financial downgraded shares of Cabot Oil & Gas (NYSE:COG) from an outperform rating to a sell rating in a report published on Tuesday, January 2nd, MarketBeat Ratings reports.

Other analysts have also recently issued research reports about the company. Scotiabank set a $32.00 price objective on Cabot Oil & Gas and gave the company a buy rating in a research report on Saturday, October 21st. Morgan Stanley reiterated a sell rating on shares of Cabot Oil & Gas in a research report on Thursday, December 14th. Cowen restated a buy rating and issued a $30.00 price target on shares of Cabot Oil & Gas in a research report on Tuesday, September 12th. Barclays upped their price target on Cabot Oil & Gas from $28.00 to $30.00 and gave the stock an overweight rating in a research report on Wednesday, October 11th. Finally, Williams Capital set a $30.00 price target on Cabot Oil & Gas and gave the stock a hold rating in a research report on Thursday, December 21st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $30.95.

Cabot Oil & Gas (COG) traded up $0.48 during trading on Tuesday, reaching $28.88. The company’s stock had a trading volume of 6,910,000 shares, compared to its average volume of 4,670,000. The company has a quick ratio of 1.61, a current ratio of 1.64 and a debt-to-equity ratio of 0.49. Cabot Oil & Gas has a twelve month low of $20.55 and a twelve month high of $29.57. The company has a market capitalization of $13,360.00, a P/E ratio of -90.25, a price-to-earnings-growth ratio of 0.96 and a beta of 0.53.

Cabot Oil & Gas (NYSE:COG) last announced its quarterly earnings results on Friday, October 27th. The oil and gas exploration company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $385.40 million for the quarter, compared to the consensus estimate of $400.85 million. Cabot Oil & Gas had a negative net margin of 8.80% and a positive return on equity of 6.63%. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.04) earnings per share. equities analysts expect that Cabot Oil & Gas will post 0.5 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.83%. This is a positive change from Cabot Oil & Gas’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, January 23rd. Cabot Oil & Gas’s dividend payout ratio (DPR) is presently -62.50%.

In other Cabot Oil & Gas news, Director Robert Kelley purchased 2,000 shares of Cabot Oil & Gas stock in a transaction dated Tuesday, October 31st. The shares were purchased at an average cost of $27.47 per share, for a total transaction of $54,940.00. Following the completion of the acquisition, the director now owns 619,500 shares in the company, valued at approximately $17,017,665. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Dan O. Dinges sold 66,610 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $27.92, for a total value of $1,859,751.20. Following the completion of the sale, the chairman now owns 2,887,018 shares in the company, valued at $80,605,542.56. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sheets Smith Wealth Management purchased a new position in Cabot Oil & Gas during the 4th quarter worth $335,000. Dalton Greiner Hartman Maher & Co. increased its holdings in Cabot Oil & Gas by 17.2% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 747,081 shares of the oil and gas exploration company’s stock worth $21,367,000 after purchasing an additional 109,761 shares during the period. DnB Asset Management AS increased its holdings in Cabot Oil & Gas by 4.9% during the 4th quarter. DnB Asset Management AS now owns 55,228 shares of the oil and gas exploration company’s stock worth $1,580,000 after purchasing an additional 2,600 shares during the period. Parametric Portfolio Associates LLC increased its holdings in Cabot Oil & Gas by 11.5% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,020,777 shares of the oil and gas exploration company’s stock worth $27,306,000 after purchasing an additional 105,171 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Cabot Oil & Gas during the 3rd quarter worth $303,000. Hedge funds and other institutional investors own 95.64% 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.

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

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