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How Cabot Oil & Gas Stock Has Performed

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COG stock performance

Cabot Oil & Gas (COG) stock like most US stocks has plunged recently after inflation and interest fears spooked the stock markets. COG stock has fallen 0.92% year-over-year, still outperforming the Energy Select Sector SPDR ETF (XLE), which has fallen ~8% during the same period. However, COG stock has underperformed the broader market S&P 500 SPDR ETF (SPY), which has risen ~14.3% year-over-year.

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Recent management comments

In regards to recent asset sales, COG management commented, “Cabot began the process of transforming the Company into one of the lowest cost operators in the industry, which has allowed us to create value for shareholders by delivering returns-focused growth while maintaining a strong balance sheet throughout the commodity cycles.”

COG management also added that, based on its current outlook for oil prices and rates of return from the assets relative to its Marcellus returns, the company would not be allocating any incremental capital to the Eagle Ford Shale above the current maintenance level.

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