NEW YORK (
Cabot Oil & Gas
was one of the worst-performing stocks in the
The S&P 500 was up 0.05% to 1,321.
Shares of Cabot Oil fell 2.17% to $34.31. The Houston-based independent oil and gas company was downgraded to neutral from add by Capital One Southcoast analysts with a price target of $40.
Cabot Oil trades at an estimated price-to-earnings ratio for next year of 39.59 times; the average for exploration and production companies is 15.15. For comparison,
has a lower forward P/E of 5.06.
Thirteen of the 25 analysts who cover Cabot Oil & Gas rated it hold. Eleven analysts gave the stock a buy rating and one rated it sell.
The stock has declined 9.74% year to date.
-- Written by Alexandra Zendrian
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