A number of firms have modified their ratings and price targets on shares of Cabot Oil & Gas (NYSE: COG) recently:
- Cabot Oil & Gas had its price target raised by analysts at Jefferies Group from $56.00 to $76.00. They now have a “buy” rating on the stock. They wrote, “While some profit taking is likely near-term, we are raising NAV to $76 on higher Marcellus reserve growth forecast. We think COG is now discounting 2015 reserves, but it possesses many more years of visible growth.”
- Cabot Oil & Gas had its price target raised by analysts at Robert W. Baird from $61.00 to $64.00. They now have an “outperform” rating on the stock.
- Cabot Oil & Gas had its price target raised by analysts at Wells Fargo from $62.00 to $70.00.
- Cabot Oil & Gas had its price target raised by analysts at Ladenburg Thalmann from $62.00 to $70.00. They now have a “buy” rating on the stock.
- Cabot Oil & Gas had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $64.00 price target on the stock. Zacks‘ analyst wrote, “Cabot Oil & Gas has been one of the better performing S&P stocks since the start of 2013, gaining more than 20% during the period. Most of the gain can be attributed to its exposure to the high-return Marcellus and Eagle Ford Shale plays, as well as its above-average production growth. A relatively low risk profile and longer reserve lives are other positives in the Cabot story. But given natural gas’ weak fundamentals and Cabot’s high exposure to the commodity, we do not believe that the stock will be able to sustain the momentum in the near future. Cabot’s steep valuation and miniscule payout also keep us worried. Considering these factors, we are maintaining our Neutral recommendation on the company’s shares. “
- Cabot Oil & Gas had its price target raised by analysts at Howard Weil from $50.00 to $65.00. They now have a “sector perform” rating on the stock.
Cabot Oil & Gas opened at 63.09 on Wednesday. Cabot Oil & Gas has a 1-year low of $28.84 and a 1-year high of $64.11. The stock’s 50-day moving average is currently $55.10. The company has a market cap of $13.239 billion and a price-to-earnings ratio of 100.30.
Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties.
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