Cabot Oil & Gas price target raised to $76 from $56 at Jefferies Jefferies raised its price target for Cabot Oil & Gas citing a higher Marcellus reserve growth forecast and keeps a Buy rating on the stock. However, the firm added that some profit taking in shares is likely near-term.
Cabot among Marcellus producers hardest hit by glut, WSJ says The rapid growth of production from the Marcellus Shale has caused gas prices to drop and forced drillers to re-evaluate operations, with Cabot Oil and Gas (COG) among the hardest hit, said The Wall Street Journal. Other companies mentioned as being impacted and having responded in the report include Ultra Petroleum (UPL), Chesapeake Energy (CHK) and Carrizo Oil & Gas (CRZO). Reference Link