Have you been eager to see how U.S. energy firm Cabot Oil & Gas Corp. performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this Houston, TX-based company’s earnings release this morning:
About Cabot: Cabot Oil & Gas is an independent energy exploration company with producing properties mainly in the continental U.S. Cabot focuses on high-impact natural gas-focused drilling in the Marcellus Shale and supplements it with Eagle Ford-based liquids program in Texas.
Zacks Rank & Surprise History: Currently, Cabot has a Zacks Rank #3 (Hold) but that could change following its fourth quarter 2016 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Coming to earnings surprise history, the company has a bad record: its missed estimates in two of the last four quarters resulting in an average negative surprise of 10.10%.
Estimate Revision Trend: Investors should note that the earnings estimate revisions for Cabot was unmoved prior to the earnings release. The Zacks Consensus Estimate remained the same over the last 30 days.
We have highlighted some of the key details from the just-released announcement below:
Earnings in Line: Earningsper share (excluding special items) came in at 1 cent, same as the Zacks Consensus Estimate.
Revenue Came in Lower than Expected: Revenue of $316.5 million was below the Zacks Consensus Estimate of $355.6 million.
Key Stats: Cabot’s overall production during the quarter totaled 164.2 billion cubic feet equivalent (Bcfe) – 97% gas – up 9% from the prior year quarter volume of 151.0 Bcfe. Natural gas output was 158.6 Bcf, while liquids production came in at 929.2 thousand barrels (MBbl).
The average realized natural gas price was remained unchanged from the year-ago quarter at $1.94 per thousand cubic feet, while average crude/condensate price realization rose 14% to $42.94 per barrel. Meanwhile, natural gas liquids fetched $13.84 per barrel as against $11.69 a year back.
Proved Reserves: As of year-end 2016, the company had 8.6 trillion cubic feet equivalent in proved reserves (97% natural gas).
Share Performance: Shares have fallen 3.6% year-to-date, while the Zacks categorized Oil & Gas - U.S. Exploration & Production industry lost 6.3% over the same period. Over the last 12 months, Encana stock has gained 16.1%.
Check back later for our full write up on this Cabot earnings report later!
Now See Our Private Investment Ideas
While the above ideas are being shared with the public, other trades are hidden from everyone but selected members. Would you like to peek behind the curtain and view them? Starting today, for the next month, you can follow all Zacks' private buys and sells in real time from value to momentum . . . from stocks under $10 to ETF and option moves . . . from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors. Click here for Zacks' secret trades >>
Image: Bigstock
Cabot Oil & Gas (COG) Q4 Earnings In Line, Revenues Miss
Have you been eager to see how U.S. energy firm Cabot Oil & Gas Corp. performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this Houston, TX-based company’s earnings release this morning:
About Cabot: Cabot Oil & Gas is an independent energy exploration company with producing properties mainly in the continental U.S. Cabot focuses on high-impact natural gas-focused drilling in the Marcellus Shale and supplements it with Eagle Ford-based liquids program in Texas.
Zacks Rank & Surprise History: Currently, Cabot has a Zacks Rank #3 (Hold) but that could change following its fourth quarter 2016 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Coming to earnings surprise history, the company has a bad record: its missed estimates in two of the last four quarters resulting in an average negative surprise of 10.10%.
Estimate Revision Trend: Investors should note that the earnings estimate revisions for Cabot was unmoved prior to the earnings release. The Zacks Consensus Estimate remained the same over the last 30 days.
We have highlighted some of the key details from the just-released announcement below:
Earnings in Line: Earningsper share (excluding special items) came in at 1 cent, same as the Zacks Consensus Estimate.
Revenue Came in Lower than Expected: Revenue of $316.5 million was below the Zacks Consensus Estimate of $355.6 million.
Key Stats: Cabot’s overall production during the quarter totaled 164.2 billion cubic feet equivalent (Bcfe) – 97% gas – up 9% from the prior year quarter volume of 151.0 Bcfe. Natural gas output was 158.6 Bcf, while liquids production came in at 929.2 thousand barrels (MBbl).
The average realized natural gas price was remained unchanged from the year-ago quarter at $1.94 per thousand cubic feet, while average crude/condensate price realization rose 14% to $42.94 per barrel. Meanwhile, natural gas liquids fetched $13.84 per barrel as against $11.69 a year back.
Proved Reserves: As of year-end 2016, the company had 8.6 trillion cubic feet equivalent in proved reserves (97% natural gas).
Share Performance: Shares have fallen 3.6% year-to-date, while the Zacks categorized Oil & Gas - U.S. Exploration & Production industry lost 6.3% over the same period. Over the last 12 months, Encana stock has gained 16.1%.
Check back later for our full write up on this Cabot earnings report later!
Now See Our Private Investment Ideas
While the above ideas are being shared with the public, other trades are hidden from everyone but selected members. Would you like to peek behind the curtain and view them? Starting today, for the next month, you can follow all Zacks' private buys and sells in real time from value to momentum . . . from stocks under $10 to ETF and option moves . . . from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors. Click here for Zacks' secret trades >>