Cabot Oil & Gas matures July 28th with profits
Cabot Oil & Gas Corporation (NYSE: COG) is an independent oil and gas company engaged in the exploration, development and production of natural gas properties in the United States. Cabot Oil & Gas is engaged in hydrocarbon exploration and controls approximately 13.7 trillion cubic foot equivalents of proven reserves. This afternoon COG was last traded 1.6% at $ 16.65.
Cabot Oil & Gas is expected to release its results on Wednesday July 28th. COG has exceeded all profit expectations in its last four earnings reports. Wall Street analysts expect Cabot Oil & Gas stock to post earnings of $ 0.31 per share in its upcoming earnings announcement, a slight decrease from the previous quarter.
For the second quarter of 2020, Cabot Oil & Gas beat analyst estimates by a margin of $ 0.03 and reported earnings per share (EPS) of $ 0.05. For the third quarter of 2020, the company’s earnings per share rose to $ 0.09, and COG beat expectations with a margin of $ 0.03. For the fourth quarter of 2020, Cabot Oil & Gas posted another surge in earnings, rising to $ 0.26 per share, also beating estimates by $ 0.05. For the first quarter of this year, Cabot Oil & Gas reported earnings per share of $ 0.38, again beating expectations by $ 0.03.
Cabot Oil & Gas stock is down 7% year over year, just days off its June 18 low of $ 15.28. In the short term, the share remains just above the break-even mark of the previous year. Cabot Oil & Gas stock also has a forward dividend of $ 0.44 and a dividend yield of 2.66%.
From a fundamental perspective, Cabot Oil & Gas has shown extremely mixed growth. The company has seen consecutive years of declining sales in both 2019 and 2020. Additionally, COG’s revenues are currently down 19% since 2017. Overall, after some short-term gains, Cabot Oil & Gas stocks could mature a longer bearish period. Although COG is currently trading at a price to earnings ratio of 23.60, its forward price to earnings ratio is estimated at 10.89.
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