Williams Capital analyst Gabriele Sorbara reiterated a Hold rating on Cabot Oil & Gas (COG) today and set a price target of $28. The company’s shares closed yesterday at $26.01.
Sorbara observed:
“We maintain our Hold on valuaon (7.6x and 7.4x 2019 and 2020 EV/EBITDA, respec vely, a 2.4x premium to its peer average), especially following the recent outperformance (up 16.4% YTD vs. peers which are up an average of 4.9%). Strong 1Q19 results. COG reported clean EPS and DCFPS of $0.73/$1.20, above our esmates of $0.66/$1.15 and Consensus of $0.64/$1.10. 1Q19 EBITDA was $513.7 million, above our esmate of $494.6 million and Consensus of $477.9 million. 1Q19 producon was 2,276.0 Mmcf/d, 0.5% above our esmate of 2,265.4 Mmcf/d but in line with Consensus of 2,276.8 Mmcf/d. Moreover, the Company achieved the top-end of its guidance with 14 net compleons, below our esmate of 15 net compleons. 1Q1 9 realized natural gas price was $3.35/Mcf, slightly below our esmate of $3.37/Mcf.”
According to TipRanks.com, Sorbara has 0 stars on 0-5 star ranking scale with an average return of -6.5% and a 39.0% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Extraction Oil & Gas, and Oasis Petroleum Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Cabot Oil & Gas with a $28 average price target.
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The company has a one-year high of $27.65 and a one-year low of $20.95. Currently, Cabot Oil & Gas has an average volume of 5.55M.
Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is negative on the stock.
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Cabot Oil & Gas Corp. engages in the development, exploitation, and exploration of oil and gas properties. It operates through the Marcellus shale in Pennsylvania. The company was founded in 1989 and is headquartered in Houston, TX.
