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Cabot Oil & Gas (COG) Wraps Up 2017 With Q4 Earnings Beat

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An Earnings Beat: U.S. energy firm Cabot Oil & Gas Corporation reported earnings per share (excluding special items) of 13 cents, marginally above the Zacks Consensus Estimate of 12 cents.

Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate for the quarter has been unchanged in the last 7 days.

Coming to earnings surprise history, Cabot is on a bit of a slippery surface. Before posting the earnings beat in Q4, the company went past the Zacks Consensus Estimate just once in last four reports, as shown in the chart below:

Overall, the company has a negative earnings surprise of 0.11% in the trailing four quarters.

Revenue Came in Lower than Expected: Revenues of $400.5 million were below the Zacks Consensus Estimate of $426 million.

Key Stats: Cabot’s overall production during the quarter totaled 172.6 billion cubic feet equivalent (Bcfe) – 95% gas – up 5.1% from the prior year quarter volume of 164.2 Bcfe. Natural gas output was 164.4 Bcf, while liquids production came in at 1,369.5 thousand barrels (MBbl).

The average realized natural gas price increased 12.4% from the year-ago quarter to $2.18 per thousand cubic feet, while average crude/condensate price realization rose 27% to $54.54 per barrel. Meanwhile, natural gas liquids fetched $23.51 per barrel as against $13.84 a year back.

Proved Reserves: As of year-end 2017, the company had 9.7 trillion cubic feet equivalent in proved reserves (96% natural gas).

Zacks Rank: Currently, Cabot carries a Zacks Rank #1 (Strong Buy).

(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)

Check back later for our full write up on this Cabot earnings report later!

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