Cabot Oil & Gas Gets a Buy Rating from BMO Capital

By Austin Angelo

In a report released yesterday, Daniel Boyd from BMO Capital reiterated a Buy rating on Cabot Oil & Gas (NYSE: COG), with a price target of $33. The company’s shares opened today at $22.43.

According to TipRanks.com, Boyd is a 4-star analyst with an average return of 6.0% and a 56.5% success rate. Boyd covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, Oil States International, and Rice Midstream Partners.

Currently, the analyst consensus on Cabot Oil & Gas is Strong Buy and the average price target is $29.50, representing a 31.5% upside.

In a report issued on June 6, Macquarie also upgraded the stock to Buy with a $26 price target.

Based on Cabot Oil & Gas’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $484 million and quarterly net profit of $106 million. In comparison, last year the company earned revenue of $263 million and had a GAAP net loss of $51.19 million.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is neutral on the stock. Last month, Todd Roemer, the Controller of COG sold 11,156 shares for a total of $268,934.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Cabot Oil & Gas Corp. operates as an independent oil and gas company, which engages in the development, exploitation, and exploration of oil and gas properties. Its core operations includes Marcellus shale, and Eagle Ford shale. The company was founded in 1989 and is headquartered in Houston, TX.,000D63-E