Cabot Oil & Gas Corporation (COG) was Upgraded by Scotia Howard Weil to ” Sector Outperform” and the brokerage firm has set the Price Target at $30. Earlier the firm had a rating of “Sector Perform ” on the company shares. Scotia Howard Weil advised their investors in a research report released on Aug 11, 2016.
On the company’s financial health, Cabot Oil & Gas Corporation reported $-0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $-0.08. The company had revenue of $246.80 million for the quarter, 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.
Cabot Oil & Gas Corporation opened for trading at $24.74 and hit $25.59 on the upside on Monday, eventually ending the session at $25, with a gain of 1.87% or 0.46 points. The heightened volatility saw the trading volume jump to 50,38,717 shares. Company has a market cap of $11,629 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.