Cabot Oil & Gas Stock Is Recovering After A Sharp Decline: Is There A Chance Of Price Growth?

The monthly chart shows a 25% price increase. What’s more, this week hit its highest price in a year at $ 23.09. However, on Friday, the cost fell sharply by 6%. The current price is 22.27%. Cabot Oil & Gas Corporation is an independent company that is engaged in the production, exploration, development, exploitation, and marketing of oil and gas assets in the United States. It focuses on the Marcellus Shale, which covers an area of approximately 175,000 acres in a dry gas window located in Susquehanna County, Pennsylvania.

20160913012343 Depositphotos 55068411 l 2015Cabot reported adjusted earnings per share of 26 cents in the last quarter, a lower Zacks Consensus Estimate of 27 cents. The company’s bottom line was affected by lower-than-expected production volumes. COG outperformed other companies and surged 36.9% over the period, topping the S&P 500 list. But they don’t seem to have much room for growth, as the company’s proposed merger with oil company Cimarex hasn’t found many takers. Due to the lack of acreage overlap, the strategic rationale for the combination of Zacks Rank # 4 (Sell) Cabot and Cimarex remains vague.