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Cabot Oil & Gas Corp Shares Surged

Cabot Oil & Gas Corp. shares advanced 1.13% to $16.04 Thursday. This proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX rising 0.60% to 4,429.10 and the Dow Jones Industrial Average DJIA rising 0.78% to 35,064.25.

Cabot Oil & Gas Corp. closed $5.30 below its 52-week high ($21.34), which the company achieved on August 10th. The stock outperformed some of its competitors Thursday, as EOG Resources Inc. EOG remained unchanged. Trading volume (5.9 M) remained 2.8 million below its 50-day average volume of 8.6 M.

Cabot Oil & Gas Corp Shares SurgedCabot Oil & Gas Corp Second quarter 2021 net income was $30.5 million, or $0.08 per share, compared to $30.4 million, or $0.08 per share, in the prior-year period. Second-quarter 2021 adjusted net income was $105.5 million, or $0.26 per share, compared to $18.0 million, or $0.05 per share, in the prior-year period. Second-quarter 2021 was $245.1 million, compared to $136.9 million in the prior-year period.

Second-quarter 2021 net cash provided by operating activities was $178.9 million, compared to $136.4 million in the prior-year period. Second-quarter 2021 discretionary cash flow was $215.4 million, compared to $119.2 million in the prior year period. Second-quarter 2021 free cash flow was $64.1 million, compared to $63.3million in the prior-year period. Excluding $6.2 million of merger-related costs during the second quarter of 2021, operating expenses per Mcfe improved by four% compared to the prior-year period.

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