Cabot Oil & Gas Corp. stock Underperforms

The Shares of Cabot Oil & Gas Corp. inched 0.53% higher to $17.06 Thursday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX rising 0.68% to 4,211.47 and the Dow Jones Industrial Average DJIA rising 0.71% to 34,060.36. This was the stock’s fourth consecutive day of gains.

Cabot Oil & Gas Corp. closed $5.61 short of its 52-week high ($22.67), which the company reached on June 9th. The stock underperformed when compared to some of its competitors Thursday, as EOG Resources Inc. EOG rose 1.27% to $75.93. Trading volume remained 389,606 below its 50-day average volume of 5.8 M.

Cabot Oil & Gas Corp reported financial and operating results for the first quarter of 2021. Dan O. Dinges, Chairman, President and Chief Executive Officer said that the earning relative to the prior-year period, Cabot’s free cash flow and adjusted net income both grew by over 175%, highlighting the Company’s ability to deliver robust financial results in a more normalized natural gas price environment. They continue to track to deliver strong growth in our earnings, return on capital employed, and free cash flow this year, which supports our focus on increasing our capital returns and further enhancing shareholder value.

The company reported that the First quarter of 2021 net income was $126.4 million, or $0.32 per share, compared to $53.9 million, or $0.14 per share, in the prior-year period. First-quarter 2021 adjusted net income was $150.0 million, or $0.38 per share, compared to $54.0 million, or $0.14 per share, in the prior-year period. First-quarter 2021 EBITDAX was $300.4 million, compared to $189.0 million in the prior-year period.