Cabot Oil & Gas Corporation (COG) Releases Earnings Results, Beats Expectations By $0.01 EPS

Cabot Oil & Gas Corporation (COG) reported quarterly earnings results on Friday, Jul-29-2016. The company said it had a profit of $-0.07 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $-0.08. The company posted revenue of $246.80 million in the period, compared to analysts expectations of $279.22 million. The company’s revenue was down -19.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.

Many Wall Street Analysts have commented on Cabot Oil & Gas Corporation. Cabot Oil & Gas Corporation was Upgraded by JP Morgan to ” Overweight” on May 3, 2016. Company shares were Reiterated by Barclays on May 2, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 20 from a previous price target of $19 .

Cabot Oil & Gas Corporation opened for trading at $23.6 and hit $24.14 on the upside on Thursday, eventually ending the session at $23.85, with a gain of 0.97% or 0.23 points. The heightened volatility saw the trading volume jump to 76,61,015 shares. Company has a market cap of $11,090 M.

In a different news, on Jun 27, 2016, George Kevin Cunningham (Vice Pres. & General Counsel) sold 6,178 shares at $25.32 per share price. According to the SEC, on May 9, 2016, Robert S Boswell (director) purchased 5,000 shares at $24.35 per share price. On Aug 21, 2015, Robert L Keiser (director) purchased 450 shares at $25.42 per share price, according to the Form-4 filing with the securities and exchange commission.

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’s exploration development and production operations are primarily concentrated in two plays: the Marcellus Shale in northeast Pennsylvania and the Eagle Ford Shale in south Texas. The Company’s Marcellus Shale properties are principally located in Susquehanna County and to a lesser extent Wyoming County Pennsylvania. The Company’s properties in the Eagle Ford Shale are principally located in Atascosa Frio and La Salle Counties Texas. The Company also has operations in various other unconventional and conventional plays throughout the continental United States including the Utica Shale in Pennsylvania; the Cotton Valley Haynesville Bossier and James Lime formations in east Texas and the Devonian Shale Big Lime Weir and Berea in West Virginia.

Cabot Oil & Gas Corporation

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