Have you been eager to see how U.S. energy firm Cabot Oil & Gas Corporation performed in Q3 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 #4 (Sell). 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 good record: it has reported average positive earnings surprise of 3.02% in the trailing four quarters.
Estimate Revision Trend: Investors should note that the earnings estimate revisions of Cabot for the current quarter and the current year were revised downwards by 1 cent over the last 7 days.
We have highlighted some of the key details from the just-released announcement below:
Earnings Miss: Earnings per share (excluding special items) came in at 7 cents, below the Zacks Consensus Estimate of 8 cents.
Revenue Came in Lower than Expected: Revenue of $385.4 million was below the Zacks Consensus Estimate of $407 million.
Key Stats: Cabot’s overall production during the quarter totaled 169.5 billion cubic feet equivalent (Bcfe) as against 150.8 Bcfe in the prior-year quarter. Natural gas output was 161.2 Bcf in the quarter under review; while crude oil production came in at 1,268 thousand barrels (MBbl) and natural gas liquids came at 124.7 thousand barrels (MBbl)
The average realized natural gas price improved by 16% from the year-ago quarter to $2.03 per thousand cubic feet, while average crude/condensate price realization rose 13% to $45.53 per barrel. Meanwhile, natural gas liquids fetched $17.04 per barrel, an increase of 35% compared to the third quarter of 2016.
Share Performance: Shares of Cabot have increased 5.5% year-to-date, while the broader industry lost 27% over the same period.
Check back later for our full write up on this Cabot earnings report later!
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Cabot (COG) Q3 Earnings and Revenue Miss Estimates
Have you been eager to see how U.S. energy firm Cabot Oil & Gas Corporation performed in Q3 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 #4 (Sell). 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 good record: it has reported average positive earnings surprise of 3.02% in the trailing four quarters.
Estimate Revision Trend: Investors should note that the earnings estimate revisions of Cabot for the current quarter and the current year were revised downwards by 1 cent over the last 7 days.
We have highlighted some of the key details from the just-released announcement below:
Earnings Miss: Earnings per share (excluding special items) came in at 7 cents, below the Zacks Consensus Estimate of 8 cents.
Revenue Came in Lower than Expected: Revenue of $385.4 million was below the Zacks Consensus Estimate of $407 million.
Key Stats: Cabot’s overall production during the quarter totaled 169.5 billion cubic feet equivalent (Bcfe) as against 150.8 Bcfe in the prior-year quarter. Natural gas output was 161.2 Bcf in the quarter under review; while crude oil production came in at 1,268 thousand barrels (MBbl) and natural gas liquids came at 124.7 thousand barrels (MBbl)
The average realized natural gas price improved by 16% from the year-ago quarter to $2.03 per thousand cubic feet, while average crude/condensate price realization rose 13% to $45.53 per barrel. Meanwhile, natural gas liquids fetched $17.04 per barrel, an increase of 35% compared to the third quarter of 2016.
Share Performance: Shares of Cabot have increased 5.5% year-to-date, while the broader industry lost 27% over the same period.
Check back later for our full write up on this Cabot earnings report later!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>