(COG) Cabot Oil & Gas – Bull of the Day

We are maintaining our Outperform recommendation on shares of Cabot Oil & Gas (COG), reflecting its impressive exposure to the high-return Marcellus and Haynesville Shale plays, as well as its above-average production growth. Furthermore, the capital infusion of over $200 million bodes well for Cabot, which will help it to bolster its natural gas operations.

Buoyed by the growth momentum from the company’s drilling efforts, particularly in its North region, Cabot recently reported better-than-expected second-quarter earnings. A relatively low-risk profile and longer reserve lives are other positives in the Cabot story.

Considering these factors, we believe Cabot is well positioned going forward and consider it an attractive investment. This is reflected in our continued Outperform recommendation on the company’s shares. Our $83 price objective is based on a multiple of 20.2X trailing twelve-month cash flow.

CABOT OIL & GAS (COG): Free Stock Analysis Report

Zacks Investment Research

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