Is this oil stock worth Buying

ByMarketFacts


Cabot Oil & Gas Corporation is a company engaged in hydrocarbon exploration. It is organized in Delaware and based in Houston, Texas. Key Highlights Agreement with Cimarex Energy- The company has recently announced a definitive agreement with Cimarex Energy, whereby the companies will combine in an all-stock merger of equals. The combination will bring together two industry-leading operators with top-tier oil and natural gas assets to create a diversified energy leader that is positioned to drive enhanced free cash flow generation and returns for investors through market cycles. Second Quarter Financial Results-

Financial


• Net Income- The company reported net income of $30.5 million as compared to $30.04 million or $0.08 per share in the previous corresponding period.
• Adjusted Net Income- The company also reported adjusted net income of $105.5 million, or $0.26 per share, compared to $18.0 million, or $0.05 per share, in the prior-year period. Name Ticker Industry Market Cap Dividend Yield Cabot Oil & Gas Corporation COG- NYSE Natural Resources $5.995 Billion 2.93%
• Net Cash- The company also reported net cash provided by operating activies to $178.9 million as compared to $136.04 million in the previous corresponding period.
(Source Company Reports)

Stock Observation-

The company has reported overall strong financials in Q2 2021 and is expected to replicate the results in Q3 2021. The pays lucrative dividend which is an added advantage. From a technical standpoint the RSI level for the stock is at 41 hence showing oversold conditions. Customers looking for a long term stock can choose to invest in the stock. Risk Involved- The company is also exposed to a certain level of risks. The company may see a downfall in case the current Covid variant becomes a threat, which may force countries to opt for lockdowns.
Considering all the factors and financials of the company Acrobull Maintains a Buy rating on the stock.

Disclaimer-

Though our research is fundamentally and technically based Acrobull only provides general advice on the stocks and it is imperative for the investors to do the risk assessment for themselves before investing as MArketfacts would not be liable for any loss or profit arising out through the investment made by the investors on our recommendations. It is also advisable for the investors to consult with Financial Advisor, Broker or to seek any legal assistance as the research conducted by Marketfacts is factual based and recommendations are given in accordance with that but it is imperative to understand that Marketfacts does not guarantee returns. Marketfacts Recommendation Based on Evaluation Current Market Price $15.00 USD

Marketfacts Recommendation

Buy Target Price $16.80 CAD

RSI Level 14 Day RSI 41

Total Shares Outstanding 399.66 million

Shares held by Insiders 2.10%

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