Orlando, FL -- (SBWIRE) -- 09/16/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Cabot Oil & Gas Corporation (NYSE:COG), Exxon Mobil Corporation (NYSE:XOM).
Cabot Oil & Gas Corporation (NYSE:COG) shares fell 1.37% and closed at $37.52. The company on August 16 said it hosted a Natural Gas Celebration to highlight the benefits of expanded natural gas usage across northeastern Pennsylvania. The event featured displays by companies and organizations throughout the region that are using natural gas in their equipment and products, as well as displays from local colleges that have expanded their course offerings to meet the growing demand for employees in the industry.
Additionally, Canaccord Genuity analyst Robert Christensen initiated coverage on Cabot Oil & Gas Corporation with a Buy rating and $45.00 price target on August 20.
Canaccord Genuity believe COG is simply put the best dry gas producer in the US today and that it can continue its growth in the northeast Marcellus Shale for years to come. The shift to pad drilling and numerous pipeline expansions in the region give the analysts added assurance in COG's growth
Are investors worried about the recent updates with COG? Find out with a free trend analysis HERE
Exxon Mobil Corporation (NYSE:XOM) stock gained 0.48% to $88.40. The company on Sept. 11 was charged with illegally dumping more than 50,000 gallons (189,000 liters) of wastewater at a shale-gas drilling site in Pennsylvania. Exxon unit XTO Energy Inc. discharged the water from waste tanks at the Marquandt well site in Lycoming County in 2010, according to a statement on the website of Pennsylvania’s attorney general. The pollution was found during an unannounced visit by the state’s Department of Environmental Protection.
Additionally, the company on August 23 said it is selling over half of its 60 percent holding in Iraq's West Qurna-1 oilfield project to China's biggest energy firm PetroChina and Indonesia's Pertamina, Iraq's oil minister confirmed. "25 percent (stake) to PetroChina and 10 percent to Pertamina," Abdul Kareem Luaibi told Reuters on the sidelines of a ministerial meeting here.
Moreover, the company on August 1 said net income fell 57 percent in the second quarter on weaker refining results, lower production and minus a big gain in the year-ago quarter. The company earned $6.86 billion on revenue of $106.47 billion in the quarter. In last year's quarter, the company earned $15.9 billion on revenue of $127.36 billion. On a per-sharex basis Exxon earned $1.55. Analysts polled by FactSet expected Exxon to earn $1.90 per share. It was Exxon's lowest earnings per share since September of 2010
Is XOM going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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