Narrow-Moat Cabot Continues Steady Production and Cash Flow Growth in 1Q
We're leaving our Cabot Oil & Gas fair value estimate of $29 per share unchanged following the release of first-quarter results. Our narrow moat rating, based on cost advantage, is also intact. Quarterly production was a record 2.276 billion cubic feet per day, just slightly above the top end of management's guidance. Volumes grew 1.5% sequentially and 21% year over year. Adjusted for divestitures, production was up 25% compared with the prior-year quarter.Gas price realizations were up 37%...
Cabot Oil & Gas is an independent oil and gas company engaged in the development, exploitation, exploration and production of oil and gas properties. The company operates in one segment, natural gas and oil development, exploitation, exploration and production, in the continental United States. The company's operations are primarily concentrated in one unconventional play—the Marcellus Shale in northeast Pennsylvania.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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