Shares of Cabot Oil & Gas (COG) - Get Report  on Friday are down more than 10% as the company topped analysts' top- and bottom-line estimates but lowered its production-growth guidance. 

The Houston company reported earnings of 36 cents a share on revenue of $534.1 million. Analysts were expecting the company to report 34 cents and $494.3 million. 

Cabot delivered "positive free-cash-flow generation, improved return on capital employed, and disciplined growth in per-share metrics, while continuing to return capital to shareholders through ... dividends and opportunistic share repurchases,"  Chief Executive Dan Dinges said in a statement. 

The company lowered its full-year production guidance to a range of 16% to 18% from its previous guidance of 20% growth. 

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