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Stock Market & Financial Investment News

News Breaks
July 28, 2014
07:13 EDTCOGCabot Oil & Gas downgraded to Perform from Outperform at Oppenheimer
News For COG From The Last 14 Days
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February 2, 2016
10:01 EDTCOGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: BlackBerry (BBRY) initiated with a Buy at TD Securities... British American Tobacco (BTI) initiated with a Buy at Berenberg... Cabot Oil & Gas (COG) initiated with a Buy at SunTrust... Celestica (CLS) initiated with a Hold at TD Securities... Devon Energy (DVN) initiated with an Equal Weight at Stephens... Fitbit (FIT) initiated with an Outperform at Oppenheimer... Imperial Tobacco (ITYBY) initiated with a Buy at Berenberg... Kite Pharma (KITE) initiated with an Outperform at RBC Capital... Mellanox (MLNX) initiated with a Buy at Roth Capital.
07:20 EDTCOGCabot Oil & Gas initiated with a Buy at SunTrust
Target $31.
06:42 EDTCOGCabot Oil & Gas reduces FY16 capital budget to $3235M
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06:39 EDTCOGCabot Oil & Gas sees Q4 production about 1,642 Mmcfe per day
Cabot expects production for Q4 to be approximately 1,642 million cubic feet equivalent, or Mmcfe, per day, including approximately 1,552 million cubic feet, or Mmcf, per day of natural gas and approximately 14,977 barrels, or Bbl, per day of liquids. Equivalent production for the quarter is expected to exceed the midpoint of the company's guidance range of 1,626 Mmcfe per day. Based on the expected production volumes for the fourth quarter, the company expects its total production growth for 2015 to be approximately 13%. Natural gas price realizations, including the effect of hedges, are expected to be $1.94 per thousand cubic feet in Q4. Excluding the impact of hedges, natural gas price realizations for the quarter are expected to be $1.52 per Mcf, representing a 75c discount to NYMEX settlement prices and an improvement relative to the company's Q4 guidance range of 90c-$1.00 below NYMEX settlement prices. Realized natural gas prices exceeded the company's expectations due to an improvement in basis differentials throughout Appalachia during the quarter. Oil price realizations are expected to be $37.74 per Bbl. Cabot expects to incur approximately $97 million in capital expenditures associated with activity during the fourth quarter of 2015. Based on this anticipated level of spending during the quarter, the Company expects to incur approximately $774 million in capital expenditures associated with activity during the full year of 2015, compared to the Company's 2015 capital program guidance of $850 million. The lower capital spending was a result of reduced activity levels in the fourth quarter, along with continued improvements in operating efficiencies and further reductions in service costs. Including the change in accrued capital costs relating to 2014 operating activity that was paid in 2015, total capital expenditures (including acquisitions) for 2015 are expected to be approximately $972 million. Contributions to equity method investments for 2015 are expected to be approximately $29 million. Cabot expects to recognize a non-cash, after-tax impairment charge of approximately $73 million in the fourth quarter of 2015 primarily associated with legacy, non-core fields due to the significant decline in commodity prices.
January 27, 2016
10:15 EDTCOGCabot Oil & Gas downgraded to Peer Perform from Outperform at Wolfe Research
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