Citigroup Maintains Cabot Oil & Gas Corporation to Neutral with Price Target $23.00

Brokerage firm Citigroup Maintains its rating on Cabot Oil & Gas Corporation(NYSE:COG). In a research note issued to the investors, the brokerage major Lowers the price-target to $23.00 per share. The shares have been rated Neutral. The rating by Citigroup was issued on Aug 1, 2016.

In a different note, On Jun 14, 2016, Deutsche Bank said it Maintains its rating on Cabot Oil & Gas Corporation. In the research note, the firm Lowers the price-target to $24.00 per share. The shares have been rated ‘Hold’ by the firm.

Cabot Oil & Gas Corporation (COG) made into the market gainers list on Mondays trading session with the shares advancing 1.87% or 0.46 points. Due to strong positive momentum, the stock ended at $25, which is also near the day’s high of $25.59. The stock began the session at $24.74 and the volume stood at 50,38,717 shares. The 52-week high of the shares is $27.24 and the 52 week low is $14.88. The company has a current market capitalization of $11,629 M and it has 46,51,48,230 shares in outstanding.

Cabot Oil & Gas Corporation(COG) last announced its earnings results on Jul 29, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $246.82M. Analysts had an estimated revenue of $271.49M. Earnings per share were $-0.07. Analysts had estimated an EPS of $-0.09.

Several Insider Transactions has been reported to the SEC. On Jun 27, 2016, George Kevin Cunningham (Vice Pres. & General Counsel) sold 6,178 shares at $25.32 per share price.Also, 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.

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