Cabot Oil & Gas Corp Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Cabot Oil & Gas Corporation (NYSE:COG) will unveil its latest earnings on Wednesday, October 26, 2011. Cabot Oil & Gas is an independent company engaged in the development, exploitation, and exploration of oil and gas properties in North America.

Cabot Oil & Gas Corporation Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 32 cents per share, a rise of 3.2% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 34 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 33 cents during the last month. For the year, analysts are projecting net income of $1.36 per share, a rise of 38.8% from last year.

Past Earnings Performance: The company is looking to top estimates for the third straight quarter. Last quarter, it reported profit of 35 cents per share against a mean estimate of net income of 28 cents, and the quarter before, the company exceeded forecasts by 3 cents with profit of 15 cents versus a mean estimate of net income of 12 cents.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 24.7% in revenue from the year-earlier quarter to $273.3 million.

Analyst Ratings: 11 out of 18 analysts surveyed (61.1%) have a buy rating on Cabot Oil & Gas.. This is below the mean analyst rating of 10 competitors, which average 62.1% buy ratings.

A Look Back: In the second quarter, profit rose more than twofold to $54.7 million (52 cents a share) from $21.7 million (21 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 23.1% to $240.7 million from $195.5 million.

Key Stats:

A year-over-year revenue increase in the second quarter snapped a streak of two consecutive quarters of revenue declines. Revenue fell 1.7% in the first quarter and 7.1% in the fourth quarter of the last fiscal year.

The increase in profit in the second quarter came after net income fell in the previous quarter. In the first quarter, net income fell 55.1%.

Competitors to Watch: EOG Resources, Inc. (NYSE:EOG), Pinnacle Gas Resources, Inc. (PINN), Vanguard Natural Resources, LLC (NYSE:VNR), Magnum Hunter Resources Corp (NYSE:MHR), Anadarko Petroleum Corp. (NYSE:APC), PrimeEnergy Corporation (NASDAQ:PNRG), SM Energy Co. (NYSE:SM), EV Energy Partners, L.P. (NASDAQ:EVEP), Continental Resources, Inc. (NYSE:CLR), and Range Resources Corp. (NYSE:RRC).

Stock Price Performance: During September 22, 2011 to October 20, 2011, the stock price had risen $4.15 (6.4%) from $64.72 to $68.87. The stock price saw one of its best stretches over the last year between October 28, 2010 and November 11, 2010 when shares rose for 11-straight days, rising 24.9% (+$7.01) over that span. It saw one of its worst periods between August 1, 2011 and August 8, 2011 when shares fell for six-straight days, falling 21.2% (-$15.96) over that span. Shares are up $31.09 (+82.3%) year to date.

(Source: Xignite Financials)

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