|Over a week ago|
Cabot Oil & Gas reports Q3 adjusted EPS 9c, consensus 6c » 16:1310/2910/29/20
Reports Q3 revenue…
Reports Q3 revenue $291.04M, consensus $351.72M.
|Over a month ago|
Cabot Oil & Gas upgraded to Neutral from Underperform at BofA » 06:3310/2610/26/20
BofA analyst Doug Leggate…
BofA analyst Doug Leggate upgraded Cabot Oil & Gas to Neutral from Underperform with a $22 price target as part of a broader research note on Oils, indicating that his overall position on the commodity is "above the current forward strip". The analyst adds that Cabot Oil & Gas has a more conservative balance sheet structure, though its upside "at strip potential" is "modest".
Cabot Oil & Gas sees FY20 production 2,325-2,340 Mmcfe per day » 16:2110/0710/07/20
Taking into account the…
Taking into account the anticipated impact of continued price-related curtailments in October, which have averaged an estimated 450 Mmcfe per day of gross production month-to-date, Cabot has provided a Q4 production guidance range of 2,300 to 2,350 Mmcfe per day, resulting in an updated full-year 2020 production guidance range of 2,325 to 2,340 Mmcfe per day based on a capital program of $575M. "While natural gas prices across North America currently remain challenged due to lower seasonal demand during the shoulder season and storage levels that are nearing capacity, we remain optimistic about the improving natural gas supply and demand outlook heading into 2021, which has resulted in a significant increase in the 2021 natural gas price futures since late July," noted Dinges. "This improvement in the natural gas price outlook is expected to result in a meaningful expansion in Cabot's free cash flow next year, which will allow the Company to utilize excess free cash flow for increased return of capital to shareholders and the repayment of our 2021 debt maturities."
Cabot Oil & Gas sees Q3 production 2,406 Mmcfe per day » 16:2010/0710/07/20
Cabot expects production…
Cabot expects production for Q3 to be approximately 2,406 Mmcfe per day. Natural gas price realizations, including the impact of derivatives, are expected to be $1.57 per thousand cubic feet in Q3. Excluding the impact of derivatives, natural gas price realizations for the quarter are expected to be $1.51 per Mcf, representing a 47c discount to NYMEX settlement prices. "On September 18, 2020, Cabot commenced a strategic curtailment program in response to weakness in regional natural gas prices throughout Appalachia, resulting in an estimated average daily curtailment of approximately 372 million cubic feet equivalent (Mmcfe) per day of gross production during the last 13 days of the quarter," stated Dan Dinges, Chairman, President and Chief Executive Officer. "While our low cost structure affords us the opportunity to deliver cash margins even in the lows of the natural gas price cycle, we continue to evaluate all opportunities to enhance value for our shareholders including the decision to temporarily forgo production in anticipation of generating higher margins for our volumes in the near future. Despite our price-related curtailments in September, Cabot's third quarter production still fell within our previously disclosed guidance range."
Cabot Oil & Gas upgraded to Buy from Hold at Tudor Pickering » 08:0309/2409/24/20
Tudor Pickering analyst…
Tudor Pickering analyst Matthew Portillo upgraded Cabot Oil & Gas to Buy from Hold with a $22 price target.
Cabot Oil & Gas initiated with a Market Perform at Northland » 08:1609/1409/14/20
Northland analyst Subash…
Northland analyst Subash Chandra initiated coverage of Cabot Oil & Gas with a Market Perform rating and $18 price target. While Cabot should remain a perennial "risk off" investment, the firm's valuation approach indicates shares are fairly valued at $2.50 long-term gas, the analyst said.
|Over a quarter ago|
Early notable gainers among liquid option names on August 14th » 09:5508/1408/14/20
COG, M, RRC, EQT, AMAT
Notable gainers among…
Notable gainers among liquid option names this morning include Applied Materials (AMAT) $69.72 +4.69, EQT Corporation (EQT) $17.14 +1.15, Range Resources (RRC) $8.57 +0.51, Macy's (M) $7.20 +0.23, and Cabot Oil & Gas (COG) $19.86 +0.51.
Cabot Oil & Gas VP Todd Roemer sells 33,000 shares of company stock » 14:2308/1308/13/20
Cabot Oil & Gas VP…
Cabot Oil & Gas VP Todd Roemer disclosed in a filing that he had sold 33,000 shares of company stock at $19.66 per share on August 12. The total transaction value of the sale was $648,780.
Cabot Oil & Gas assumed with a Neutral at Credit Suisse » 19:5608/0408/04/20
Credit Suisse analyst…
Credit Suisse analyst William Janela assumed coverage of Cabot Oil & Gas with a Neutral rating and $21 price target. The analyst made no changes to the firm's ratings, target prices or estimates in the Oil and Gas Exploration and Production sector.
Cabot Oil & Gas sees Q3 production 2,400-2,450 Mmcfe per day » 16:4707/3007/30/20
Cabot has provided its…
Cabot has provided its third quarter 2020 production guidance range of 2,400 to 2,450 Mmcfe per day, resulting in the reaffirmation of the company's full-year 2020 production guidance range of 2,350 to 2,375 Mmcfe per day based on a capital program of $575 million. "Despite our expectation for the 2020 average NYMEX price to be the lowest on record since 1995, we expect our capital program for the year to be fully funded within cash flow and to generate enough free cash flow to cover the majority of our dividend," said Dinges. "While we do not plan to provide our official 2021 guidance until early next year, based on a 2021 NYMEX price assumption of $2.75 per MMbtu, which is roughly in line with the current NYMEX futures, we can deliver similar production volumes as 2020 from a modestly lower maintenance capital program, while generating a free cash flow yield1 of approximately eight percent and a ROCE between 19 and 20 percent. Our prioritization for the deployment of our free cash flow in 2021 is funding our regular quarterly dividend, repayment of our 2021 debt maturities, and additional opportunistic returns of capital to shareholders."