Cabot Oil & Gas Corp. , based in Houston, Texas, is an independent oil and gas exploration company with producing properties mainly in the continental U.S. Founded over 100 years ago in Pennsylvania, Cabot originally operated in the Appalachian Mountains of the eastern U.S. before moving the bulk of its activities to the Gulf Coast.
Today, the company has three domestic focus areas: the Appalachian Basin, east Texas, and Rocky Mountains. Cabot mainly concentrates on high-impact natural gas-focused drilling in the Marcellus Shale and supplements it with Eagle Ford-based liquids program in Texas' Eagle Ford play.
Currently, Cabot has a Zacks Rank #3 (Hold) but that could change following its third quarter 2016 earnings report which has just released.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Loss per share (excluding special items) came in at 4 cents, which was in line with the Zacks Consensus Estimate.
Revenue: Revenue misses expectations. Revenue of $310.4 million was below the Zacks Consensus Estimate of $314 million.
Key Stats:Cabot’s overall production during the quarter totaled 150.8 billion cubic feet equivalent (Bcfe) – 95.8% gas – up from the prior year quarter volume of 142.1 Bcfe. Natural gas output was 144.4 Bcf, while liquids production came in at 1,071 thousand barrels (MBbl). The average realized natural gas price (excluding hedges) was up 7.1% from the year-ago quarter to $1.80 per thousand cubic feet, while average crude/condensate price realization fell 8.2% to $40.13 per barrel. Meanwhile, natural gas liquids fetched $12.64 per barrel as against $10.11 a year back.
CABOT OIL & GAS Price and EPS Surprise
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Cabot Oil & Gas (COG) Posts Q3 Loss as Expected
Cabot Oil & Gas Corp. , based in Houston, Texas, is an independent oil and gas exploration company with producing properties mainly in the continental U.S. Founded over 100 years ago in Pennsylvania, Cabot originally operated in the Appalachian Mountains of the eastern U.S. before moving the bulk of its activities to the Gulf Coast.
Today, the company has three domestic focus areas: the Appalachian Basin, east Texas, and Rocky Mountains. Cabot mainly concentrates on high-impact natural gas-focused drilling in the Marcellus Shale and supplements it with Eagle Ford-based liquids program in Texas' Eagle Ford play.
Currently, Cabot has a Zacks Rank #3 (Hold) but that could change following its third quarter 2016 earnings report which has just released.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Loss per share (excluding special items) came in at 4 cents, which was in line with the Zacks Consensus Estimate.
Revenue: Revenue misses expectations. Revenue of $310.4 million was below the Zacks Consensus Estimate of $314 million.
Key Stats:Cabot’s overall production during the quarter totaled 150.8 billion cubic feet equivalent (Bcfe) – 95.8% gas – up from the prior year quarter volume of 142.1 Bcfe. Natural gas output was 144.4 Bcf, while liquids production came in at 1,071 thousand barrels (MBbl). The average realized natural gas price (excluding hedges) was up 7.1% from the year-ago quarter to $1.80 per thousand cubic feet, while average crude/condensate price realization fell 8.2% to $40.13 per barrel. Meanwhile, natural gas liquids fetched $12.64 per barrel as against $10.11 a year back.
CABOT OIL & GAS Price and EPS Surprise
CABOT OIL & GAS Price and EPS Surprise | CABOT OIL & GAS Quote
Check back later for our full write up on this Cabot earnings report later!
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>