Industry

Basic Materials Worth Chasing: Apache Corporation (APA), Cabot Oil & Gas Corporation (COG)

Apache Corporation (APA) ended last trading session with a change of -0.14 percent. It trades at an average volume of 3.48M shares versus 4.05M shares recorded at the end of last trading session. The share price of $50.16 is at a distance of 10.56 percent from its 52-week low and down -27.02 percent versus its peak. The company has a market cap of $19.2B and currently has 382.71M shares outstanding. The share price is currently -6.22 percent versus its SMA20, -13.81 percent versus its SMA50, and -13.25 percent versus its SMA200. The stock has a weekly performance of -3.89 percent and is -20.66 percent year-to-date as of the recent close.

Feb. 13, 2017 — The board of directors of Apache Corporation (APA) has declared the regular cash dividend on the company’s common shares.

The dividend on common shares is payable May 22, 2017, to stockholders of record on April 21, 2017, at a rate of 25 cents per share.

Cabot Oil & Gas Corporation (COG) recently recorded 0.7 percent change and currently at $22.87 is 14.45 percent away from its 52-week low and down -14.31 percent versus its peak. It has a past 5-day performance of -1.21 percent and trades at an average volume of 6.49M shares. The stock has a 1-month performance of -5.61 percent and is -2.01 percent year-to-date as of the recent close. There were about 478.49M shares outstanding which made its market cap $10.94B. The share price is currently -0.24 percent versus its SMA20, 1.09 percent versus its SMA50, and -3.05 percent versus its SMA200.

On Feb. 24, 2017 Cabot Oil & Gas Corporation (COG) reported financial and operating results for the fourth quarter and full-year ended December 31, 2016.

Highlights

  • Equivalent production growth of four percent year-over-year
  • Proved reserves growth of five percent year-over-year including proved developed reserves growth of 16 percent
  • Total company all-sources finding and development costs of $0.37 per thousand cubic feet equivalent (Mcfe) and Marcellus-only all-sources finding and development costs of $0.26 per thousand cubic feet (Mcf)
  • Generated positive free cash flow (cash flow from operating activities less capital expenditures) for the full-year
  • Improved operating expenses per unit by eight percent and cash operating expenses per unit by 11 percent year-over-year
  • Reduced outstanding debt by $497 million and ended the year with approximately $2.2 billion of liquidity
  • Increased Marcellus estimated ultimate recovery (EUR) per 1,000 feet of lateral to 4.4 billion cubic feet (Bcf)

 

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