Cabot Oil & Gas (COG) Stock Closed Up Despite Lower Oil Prices

Cabot Oil & Gas (COG) stock advanced on Friday even though oil prices retreated on supply glut concerns.
By Natalie Walters ,

NEW YORK (TheStreet) -- Shares of Cabot Oil & Gas (COG) - Get Report  closed higher by 0.70% to $24.38 in Friday's trading session even though oil prices declined. 

Crude oil (WTI) is dropping 1.27% to $44.18 per barrel and Brent crude is sliding 1.17% to $45.66 per barrel this afternoon.

The decreasing oil prices are set for their second weekly loss in July after U.S. data showed excess oil products in Europe and Asia, Reuters reports.

Additionally, the U.S. oil rig count increased by 15 this week, according to Baker Hughes (BHI). This is the fourth-straight weekly increase in oil rigs.

Also weighing on prices, the dollar has strengthened to a more than four-month high.

Cabot Oil & Gas is a Houston-based oil and gas exploration and production company. 

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate CABOT OIL & GAS CORP as a Sell with a ratings score of D+. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, weak operating cash flow, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.

You can view the full analysis from the report here: COG

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