Cabot Oil Positives Priced In

Sep 24, 2008 (Zacks Investment Research via COMTEX) -- COG | Quote | Chart | News | PowerRating -- Cabot Oil and Gas (COG), based in Houston, Texas, is an independent oil and gas exploration company with producing properties in the U.S. and Canada. The company was founded over 100 years ago. Cabot's recent results have benefited from high commodity prices and increased volumes. While commodity prices have eased, the company should continue to benefit from acquisitions-related volume gains in the coming quarters. Recently, Cabot completed the $600 million acquisition of producing East Texas properties, which increases its exposure to the highly prospective Haynesville Shale play. This is inline with management's asset repositioning program that has transformed Cabot into a relatively low risk onshore player with longer-lived reserves. We, however, maintain our Hold recommendation as we continue to believe that current valuation already reflects these positives. Our target is $42 per share. Read the full analyst report on COG

Get real-time market insights and profitable stock recommendations from the team of analysts at Zacks Equity Research. See all today?s Analyst Blog entries.

More News:   Market Updates | Stock Alerts | All Trading News | Stock Index