An Earnings Beat: U.S. energy firm Cabot Oil & Gas Corporation reported earnings per share (excluding special items) of 28 cents, marginally above the Zacks Consensus Estimate of 26 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 Q1, the company missed the Zacks Consensus Estimate twice in last four reports, as shown in the chart below:
However, the company has a positive average earnings surprise of 2% in the trailing four quarters.
Revenue Beat: Revenues of $473.2 million beat the Zacks Consensus Estimate of $463 million.
Key Stats: Cabot’s overall production during the quarter totaled 169.6 billion cubic feet equivalent (Bcfe) – 97.1% gas – marginally lower than the prior year quarter volume of 170.1 Bcfe. Natural gas output was 164.6 Bcf, while liquids production came in at 829.1 thousand barrels (MBbl).
The average realized natural gas price fell to $2.44 from the year-ago quarter to $2.64 per thousand cubic feet, while average crude/condensate price realization rose to $63.61 per barrel from $46.73 per barrel. Meanwhile, natural gas liquids fetched $23.75 per barrel as against $20.71 a year back.
Zacks Rank: Currently, Cabot carries a Zacks Rank #3 (Hold).
(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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Cabot Oil & Gas (COG) Q1 Earnings and Sales Beat Estimates
An Earnings Beat: U.S. energy firm Cabot Oil & Gas Corporation reported earnings per share (excluding special items) of 28 cents, marginally above the Zacks Consensus Estimate of 26 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 Q1, the company missed the Zacks Consensus Estimate twice in last four reports, as shown in the chart below:
Cabot Oil & Gas Corporation Price and EPS Surprise
Cabot Oil & Gas Corporation Price and EPS Surprise | Cabot Oil & Gas Corporation Quote
However, the company has a positive average earnings surprise of 2% in the trailing four quarters.
Revenue Beat: Revenues of $473.2 million beat the Zacks Consensus Estimate of $463 million.
Key Stats: Cabot’s overall production during the quarter totaled 169.6 billion cubic feet equivalent (Bcfe) – 97.1% gas – marginally lower than the prior year quarter volume of 170.1 Bcfe. Natural gas output was 164.6 Bcf, while liquids production came in at 829.1 thousand barrels (MBbl).
The average realized natural gas price fell to $2.44 from the year-ago quarter to $2.64 per thousand cubic feet, while average crude/condensate price realization rose to $63.61 per barrel from $46.73 per barrel. Meanwhile, natural gas liquids fetched $23.75 per barrel as against $20.71 a year back.
Zacks Rank: Currently, Cabot carries a Zacks Rank #3 (Hold).
(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!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>