Cabot Oil & Gas (COG) Earns Sell Rating from Morgan Stanley

Morgan Stanley reiterated their sell rating on shares of Cabot Oil & Gas (NYSE:COG) in a research note published on Thursday morning.

Several other equities research analysts also recently issued reports on COG. TheStreet upgraded Cabot Oil & Gas from a d+ rating to a c rating in a report on Friday, October 6th. Cowen set a $30.00 price objective on Cabot Oil & Gas and gave the company a buy rating in a report on Wednesday, October 18th. Piper Jaffray Companies cut their price objective on Cabot Oil & Gas from $32.00 to $31.00 and set an overweight rating on the stock in a report on Monday, September 18th. Williams Capital reiterated a hold rating and issued a $28.00 price objective on shares of Cabot Oil & Gas in a report on Monday, October 9th. Finally, Credit Suisse Group began coverage on Cabot Oil & Gas in a report on Monday, December 11th. They set a neutral rating and a $30.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $30.56.

Shares of Cabot Oil & Gas (NYSE:COG) opened at $26.64 on Thursday. The company has a quick ratio of 1.61, a current ratio of 1.64 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $12,318.90, a price-to-earnings ratio of 70.09, a P/E/G ratio of 1.83 and a beta of 0.52. Cabot Oil & Gas has a 1-year low of $20.55 and a 1-year high of $29.57.

Cabot Oil & Gas (NYSE:COG) last posted its quarterly earnings data on Friday, October 27th. The oil and gas exploration company reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.01). The firm had revenue of $385.40 million during the quarter, compared to analysts’ expectations of $400.85 million. Cabot Oil & Gas had a negative net margin of 8.80% and a positive return on equity of 6.63%. Cabot Oil & Gas’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.04) EPS. research analysts forecast that Cabot Oil & Gas will post 0.49 earnings per share for the current fiscal year.

In other news, Chairman Dan O. Dinges sold 66,610 shares of the stock in a transaction dated 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 transaction, the chairman now owns 2,887,018 shares in the company, valued at approximately $80,605,542.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Kelley acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was acquired at an average price of $27.47 per share, for a total transaction of $54,940.00. Following the acquisition, the director now owns 619,500 shares in the company, valued at approximately $17,017,665. The disclosure for this purchase can be found here. 1.60% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its position in shares of Cabot Oil & Gas by 127.2% in the 2nd quarter. Stifel Financial Corp now owns 44,262 shares of the oil and gas exploration company’s stock valued at $1,126,000 after purchasing an additional 24,777 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Cabot Oil & Gas by 6.3% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 88,713 shares of the oil and gas exploration company’s stock valued at $2,373,000 after purchasing an additional 5,246 shares during the period. Shell Asset Management Co. boosted its position in shares of Cabot Oil & Gas by 328.6% in the 3rd quarter. Shell Asset Management Co. now owns 125,242 shares of the oil and gas exploration company’s stock valued at $4,094,000 after purchasing an additional 96,023 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Cabot Oil & Gas by 59.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 165,521 shares of the oil and gas exploration company’s stock valued at $4,151,000 after purchasing an additional 61,978 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in shares of Cabot Oil & Gas by 11.3% in the 2nd quarter. Neuberger Berman Group LLC now owns 20,664,730 shares of the oil and gas exploration company’s stock valued at $518,271,000 after purchasing an additional 2,095,126 shares during the period. Institutional investors and hedge funds own 95.69% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This news story was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States & international copyright & trademark legislation. The legal version of this news story can be viewed at https://sportsperspectives.com/2017/12/18/cabot-oil-gas-cog-earns-sell-rating-from-morgan-stanley.html.

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)

Receive News & Ratings for Cabot Oil & Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot Oil & Gas and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply