Brokerages Expect Cabot Oil & Gas Co. (NYSE:COG) Will Announce Quarterly Sales of $497.06 Million

Equities analysts expect Cabot Oil & Gas Co. (NYSE:COG) to announce $497.06 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Cabot Oil & Gas’ earnings, with estimates ranging from $483.10 million to $531.61 million. Cabot Oil & Gas posted sales of $453.45 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.6%. The business is scheduled to issue its next earnings results before the market opens on Friday, July 26th.

On average, analysts expect that Cabot Oil & Gas will report full year sales of $2.26 billion for the current financial year, with estimates ranging from $2.07 billion to $2.46 billion. For the next fiscal year, analysts forecast that the firm will post sales of $2.25 billion, with estimates ranging from $2.06 billion to $2.52 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Cabot Oil & Gas.

Cabot Oil & Gas (NYSE:COG) last issued its earnings results on Friday, April 26th. The oil and gas exploration company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.09. Cabot Oil & Gas had a net margin of 29.81% and a return on equity of 31.52%. The firm had revenue of $641.70 million during the quarter, compared to analyst estimates of $674.71 million. During the same quarter in the prior year, the business earned $0.28 earnings per share. Cabot Oil & Gas’s revenue for the quarter was up 35.6% on a year-over-year basis.



A number of equities analysts recently weighed in on the stock. Wells Fargo & Co assumed coverage on shares of Forestar Group in a research report on Monday, July 8th. They set an “outperform” rating and a $23.00 target price for the company. TD Securities upped their target price on shares of Ensign Energy Services from C$7.50 to C$8.50 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Williams Capital reiterated a “hold” rating and set a $28.00 price objective on shares of Cabot Oil & Gas in a research report on Sunday, April 21st. Citigroup set a $12.00 price objective on shares of Avaya and gave the company a “hold” rating in a research report on Monday, July 8th. Finally, ValuEngine upgraded shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $28.72.

Shares of NYSE:COG traded down $0.08 during midday trading on Friday, reaching $22.32. 4,141,318 shares of the company were exchanged, compared to its average volume of 4,913,875. The company has a current ratio of 2.83, a quick ratio of 2.75 and a debt-to-equity ratio of 0.53. The company’s fifty day moving average is $23.86. Cabot Oil & Gas has a one year low of $20.94 and a one year high of $27.65. The firm has a market capitalization of $9.45 billion, a PE ratio of 19.75, a PEG ratio of 0.83 and a beta of 0.52.

A number of hedge funds have recently added to or reduced their stakes in the business. Connable Office Inc. lifted its holdings in shares of Cabot Oil & Gas by 0.8% in the 1st quarter. Connable Office Inc. now owns 67,508 shares of the oil and gas exploration company’s stock worth $1,762,000 after acquiring an additional 549 shares during the last quarter. Nicollet Investment Management Inc. lifted its holdings in shares of Cabot Oil & Gas by 1.7% in the 1st quarter. Nicollet Investment Management Inc. now owns 34,396 shares of the oil and gas exploration company’s stock worth $898,000 after acquiring an additional 570 shares during the last quarter. Carroll Financial Associates Inc. lifted its holdings in shares of Cabot Oil & Gas by 50.4% in the 2nd quarter. Carroll Financial Associates Inc. now owns 1,806 shares of the oil and gas exploration company’s stock worth $41,000 after acquiring an additional 605 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its holdings in shares of Cabot Oil & Gas by 2.0% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 31,159 shares of the oil and gas exploration company’s stock worth $813,000 after acquiring an additional 619 shares during the last quarter. Finally, Exane Derivatives lifted its holdings in shares of Cabot Oil & Gas by 1.6% in the 1st quarter. Exane Derivatives now owns 40,887 shares of the oil and gas exploration company’s stock worth $1,067,000 after acquiring an additional 634 shares during the last quarter. Institutional investors and hedge funds own 98.65% of the company’s stock.

About Cabot Oil & Gas

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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Earnings History and Estimates for Cabot Oil & Gas (NYSE:COG)

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