Cabot Oil & Gas earnings in 2Q decline, as expected - Scranton Times-Tribune

By
Viraj
on July 25, 2010 9:35 PM | | TrackBacks (0)
Plunging earnings and low gas prices kept shares of Cabot Oil & Gas Corp. mostly unchanged for the week to a Friday close of $31.84 per share.

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Cabot said Thursday its second-quarter net income fell 15 percent as lower natural gas prices offset the company's higher production of gas. The market had already adjusted for the earnings decline, with analysts predicting a slightly greater drop for the company. For the quarter that ended June 30, Cabot reported net earnings of $21.7 million, or 21 cents a share, compared with net income of $25.5 million, or 25 cents a share in the year-ago period.

Cabot Oil & Gas earnings in 2Q decline, as expected - Scranton Times-Tribune

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