Cabot Oil & Gas Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Cabot Oil & Gas (NYS: COG) rose as much as 11% today and touched a 52-week high after the company released earnings.
So what: Earnings per share reached $0.41, which easily crushed estimates of $0.27 from analysts. Revenue was up 20% to $240.7 million, in line with expectations.
Now what: Not only was this quarter great, the company also increased its production expectations by 5% going forward. Cabot seems to be firing on all cylinders and the company's stock price is reflecting the strength. I think the shares have further to run on all of this positive earnings momentum.
Interested in more info on Cabot Oil & Gas? Add it to your watchlist.
At the time this article was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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