Cabot Oil & Gas Co. Company Profile (NYSE:COG)

About Cabot Oil & Gas Co. (NYSE:COG)

Cabot Oil & Gas Co. logoCabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties. The Company operates in the segment of natural gas and oil development, exploitation, exploration and production, in the continental United States. Its assets are concentrated in areas with known hydrocarbon resources, which are conducive to multi-well, repeatable drilling programs. As of December 31, 2016, its exploration, development and production operations were primarily concentrated in two unconventional plays: the Marcellus Shale in northeast Pennsylvania and the Eagle Ford Shale in south Texas. The Company also has operations in various other unconventional and conventional plays throughout the continental United States. Its Marcellus Shale properties are principally located in Susquehanna County, Pennsylvania. Its properties in the Eagle Ford Shale are principally located in Atascosa, Frio and La Salle Counties, Texas.

Industry, Sector and Symbol:
  • Sector: Oils/Energy
  • Industry: Independent Oil & Gas
  • Sub-Industry: Oil & Gas Exploration & Production
  • Symbol: NYSE:COG
  • CUSIP: 12709710
  • Web:
  • Market Cap: $10.69 billion
  • Outstanding Shares: 465,523,000
Average Prices:
  • 50 Day Moving Avg: $23.96
  • 200 Day Moving Avg: $23.02
  • 52 Week Range: $20.02 - $26.74
  • Trailing P/E Ratio: N/A
  • Foreward P/E Ratio: 25.23
  • P/E Growth: 0.61
Sales & Book Value:
  • Annual Revenue: $1.42 billion
  • Price / Sales: 7.53
  • Book Value: $5.82 per share
  • Price / Book: 3.95
  • Annual Dividend: $0.08
  • Dividend Yield: 0.9%
  • EBIDTA: $686.82 million
  • Net Margins: -21.03%
  • Return on Equity: -4.68%
  • Return on Assets: -2.27%
  • Debt-to-Equity Ratio: 0.53%
  • Current Ratio: 3.33%
  • Quick Ratio: 3.26%
  • Average Volume: 6.41 million shs.
  • Beta: 0.64
  • Short Ratio: 3.11

Frequently Asked Questions for Cabot Oil & Gas Co. (NYSE:COG)

What is Cabot Oil & Gas Co.'s stock symbol?

Cabot Oil & Gas Co. trades on the New York Stock Exchange (NYSE) under the ticker symbol "COG."

How often does Cabot Oil & Gas Co. pay dividends? What is the dividend yield for Cabot Oil & Gas Co.?

Cabot Oil & Gas Co. announced a quarterly dividend on Wednesday, May 3rd. Investors of record on Wednesday, May 17th will be paid a dividend of $0.05 per share on Wednesday, May 31st. This represents a $0.20 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, May 15th. This is a boost from Cabot Oil & Gas Co.'s previous quarterly dividend of $0.02. View Cabot Oil & Gas Co.'s Dividend History.

How were Cabot Oil & Gas Co.'s earnings last quarter?

Cabot Oil & Gas Co. (NYSE:COG) released its quarterly earnings results on Friday, April, 28th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.16 by $0.03. The firm earned $517.80 million during the quarter, compared to the consensus estimate of $464.45 million. Cabot Oil & Gas Co. had a negative return on equity of 4.68% and a negative net margin of 21.03%. The business's revenue was up 83.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.13) earnings per share. View Cabot Oil & Gas Co.'s Earnings History.

When will Cabot Oil & Gas Co. make its next earnings announcement?

Cabot Oil & Gas Co. is scheduled to release their next quarterly earnings announcement on Thursday, July, 27th 2017. View Earnings Estimates for Cabot Oil & Gas Co..

Where is Cabot Oil & Gas Co.'s stock going? Where will Cabot Oil & Gas Co.'s stock price be in 2017?

19 brokers have issued twelve-month target prices for Cabot Oil & Gas Co.'s shares. Their predictions range from $23.00 to $39.00. On average, they expect Cabot Oil & Gas Co.'s share price to reach $29.88 in the next twelve months. View Analyst Ratings for Cabot Oil & Gas Co..

What are analysts saying about Cabot Oil & Gas Co. stock?

Here are some recent quotes from research analysts about Cabot Oil & Gas Co. stock:

  • 1. Williams Capital analysts commented, "We will revisit our earnings and cash flow model following this morning’s call." (4/28/2017)
  • 2. According to Zacks Investment Research, "Following Cabot's Q2 results, we are taking a bullish stance on the company. Mixed numbers notwithstanding, the quarter highlights Cabot's ability to grow production, while being free cash flow positive in the face of low commodity prices. Despite suffering unscheduled downtime in the high-return Marcellus, the company achieved 14% increase in volumes. Importantly, COG's continued emphasis on expense management and improving well economics led to further improvement in its industryleading cost structure. As it is, Cabot's large acreage holdings will support several years of oil and gas drilling in fast growing fields, including the Marcellus Shale and the Eagle Ford Shale in Texas. A relatively low risk profile and longer reserve lives are other positives in the Cabot story. Consequently, we think COG offers substantial upside potential from the current price levels and view it as an attractive investment." (8/8/2016)

Who are some of Cabot Oil & Gas Co.'s key competitors?

Who owns Cabot Oil & Gas Co. stock?

Cabot Oil & Gas Co.'s stock is owned by a variety of of retail and institutional investors. Top institutional investors include Vanguard Group Inc. (9.99%), BlackRock Inc. (7.08%), State Street Corp (5.62%), Sanders Capital LLC (5.55%), FMR LLC (5.47%) and Neuberger Berman Group LLC (3.99%). Company insiders that own Cabot Oil & Gas Co. stock include George Kevin Cunningham, Robert S Boswell and Todd M Roemer. View Institutional Ownership Trends for Cabot Oil & Gas Co..

Who sold Cabot Oil & Gas Co. stock? Who is selling Cabot Oil & Gas Co. stock?

Cabot Oil & Gas Co.'s stock was sold by a variety of institutional investors in the last quarter, including State Street Corp, Wellington Management Group LLP, Bank of New York Mellon Corp, Janus Capital Management LLC, Bank of America Corp DE, Morgan Stanley, Bronson Point Management LLC and Sei Investments Co.. Company insiders that have sold Cabot Oil & Gas Co. stock in the last year include George Kevin Cunningham and Todd M Roemer. View Insider Buying and Selling for Cabot Oil & Gas Co..

Who bought Cabot Oil & Gas Co. stock? Who is buying Cabot Oil & Gas Co. stock?

Cabot Oil & Gas Co.'s stock was acquired by a variety of institutional investors in the last quarter, including BlackRock Inc., Neuberger Berman Group LLC, Sanders Capital LLC, FMR LLC, Columbus Hill Capital Management L.P., Vanguard Group Inc., FIL Ltd and Massachusetts Financial Services Co. MA. View Insider Buying and Selling for Cabot Oil & Gas Co..

How do I buy Cabot Oil & Gas Co. stock?

Shares of Cabot Oil & Gas Co. can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

How much does a share of Cabot Oil & Gas Co. stock cost?

One share of Cabot Oil & Gas Co. stock can currently be purchased for approximately $22.96.

Analyst Ratings

Consensus Ratings for Cabot Oil & Gas Co. (NYSE:COG) (?)
Ratings Breakdown: 7 Hold Ratings, 12 Buy Ratings
Consensus Rating:Buy (Score: 2.63)
Consensus Price Target: $29.88 (30.15% upside)

Analysts' Ratings History for Cabot Oil & Gas Co. (NYSE:COG)
DateFirmActionRatingPrice TargetImpact on Share PriceDetails
5/17/2017Jefferies Group LLCSet Price TargetHold$23.00MediumView Rating Details
5/15/2017BMO Capital MarketsReiterated RatingBuy$33.00LowView Rating Details
5/11/2017Bank of America CorpUpgradeUnderperform -> Neutral$25.00 -> $28.00LowView Rating Details
5/1/2017Piper Jaffray CompaniesReiterated RatingOverweight$35.00MediumView Rating Details
4/28/2017Williams CapitalReiterated RatingBuy$32.00HighView Rating Details
4/22/2017ScotiabankSet Price TargetBuy$29.00MediumView Rating Details
4/21/2017Raymond James Financial, Inc.Reiterated RatingStrong-Buy -> Outperform$27.00 -> $31.00HighView Rating Details
3/23/2017Stifel NicolausInitiated CoverageBuy$30.00HighView Rating Details
3/7/2017Deutsche Bank AGBoost Price TargetHold$23.00 -> $27.00N/AView Rating Details
2/28/2017Sanford C. BernsteinDowngradeOutperform -> Market PerformN/AView Rating Details
2/7/2017Susquehanna Bancshares IncBoost Price TargetOverweight -> NeutralN/AView Rating Details
2/6/2017JPMorgan Chase & Co.UpgradeNeutral -> Overweight$26.00 -> $27.00N/AView Rating Details
1/23/2017Barclays PLCUpgradeEqual Weight -> Overweight$22.00 -> $25.00N/AView Rating Details
12/4/2016Ladenburg Thalmann Financial ServicesBoost Price Target$30.00 -> $32.00N/AView Rating Details
11/7/2016NomuraReiterated RatingHold$25.00N/AView Rating Details
10/20/2016SunTrust Banks, Inc.DowngradeBuy -> HoldN/AView Rating Details
9/28/2016GMP SecuritiesInitiated CoverageBuy$39.00N/AView Rating Details
8/15/2016Drexel HamiltonBoost Price TargetBuy$31.00 -> $35.00N/AView Rating Details
8/11/2016Howard WeilUpgradeSector Perform -> Sector Outperform$30.00N/AView Rating Details
7/29/2016Capital One Financial Corp.UpgradeEqual Weight -> OverweightN/AView Rating Details
4/26/2016Morgan StanleyLower Price TargetEqual Weight$21.00 -> $20.00N/AView Rating Details
4/15/2016Tudor PickeringDowngradeBuy -> HoldN/AView Rating Details
4/7/2016Citigroup IncBoost Price TargetNeutral$20.00 -> $23.00N/AView Rating Details
2/23/2016Topeka Capital MarketsBoost Price TargetBuy$25.00 -> $27.00N/AView Rating Details
2/2/2016Royal Bank of CanadaInitiated CoverageBuy$31.00N/AView Rating Details
1/27/2016Wolfe ResearchDowngradeOutperform -> Market PerformN/AView Rating Details
1/19/2016KLR GroupLower Price Target$36.00 -> $31.00N/AView Rating Details
1/12/2016Cowen and CompanyUpgradeMarket Perform -> Outperform$23.00 -> $22.00N/AView Rating Details
12/22/2015KeyCorpLower Price Target$20.00N/AView Rating Details
10/21/2015Robert W. BairdLower Price Target$28.00 -> $25.00N/AView Rating Details
10/19/2015Seaport Global SecuritiesLower Price Target$37.00 -> $34.00N/AView Rating Details
7/30/2015Oppenheimer Holdings Inc.Reiterated RatingMarket PerformN/AView Rating Details
7/28/2015Imperial CapitalLower Price TargetOutperform$35.00 -> $33.00N/AView Rating Details
6/2/2015Evercore Partners Inc.Initiated CoverageHold$39.00N/AView Rating Details
6/1/2015Evercore ISIInitiated CoverageHold$39.00N/AView Rating Details
(Data available from 5/27/2015 forward)


Earnings History for Cabot Oil & Gas Co. (NYSE:COG)
Earnings by Quarter for Cabot Oil & Gas Co. (NYSE:COG)
Earnings History by Quarter for Cabot Oil & Gas Co. (NYSE:COG)
DateQuarterConsensus EstimateActual EPSRevenue EstimateActual RevenueRelease LinkConference CallDetails
4/28/2017Q1 17$0.16$0.19$464.45 million$517.80 millionViewN/AView Earnings Details
2/24/2017Q416$0.01$0.01$358.55 million$316.50 millionViewN/AView Earnings Details
10/28/2016Q316($0.04)($0.05)$325.25 million$310.43 millionViewListenView Earnings Details
7/29/2016Q216($0.08)($0.07)$270.13 million$246.80 millionViewListenView Earnings Details
4/29/2016Q116($0.14)($0.13)$273.48 million$281.90 millionViewListenView Earnings Details
2/19/2016Q415($0.04)($0.02)$334.15 million$280.80 millionViewListenView Earnings Details
10/23/2015Q315$0.01($0.01)$363.54 million$305.30 millionViewListenView Earnings Details
7/24/2015Q215$0.04$0.03$376.54 million$306.30 millionViewListenView Earnings Details
4/24/2015Q115$0.04$0.11$430.43 million$464.77 millionViewN/AView Earnings Details
2/20/2015Q414$0.23$0.22$567.70 million$618.00 millionViewN/AView Earnings Details
10/24/2014Q314$0.23$0.19$519.80 million$512.02 millionViewListenView Earnings Details
7/24/2014Q214$0.25$0.27$526.03 million$533.19 millionViewN/AView Earnings Details
4/24/2014Q114$0.28$0.26$524.35 million$509.80 millionViewN/AView Earnings Details
2/20/2014Q413$0.18$0.18$475.78 million$487.50 millionViewN/AView Earnings Details
10/24/2013Q313$0.19$0.18$450.81 million$435.85 millionViewN/AView Earnings Details
7/24/2013Q2 2013$0.39$0.45$435.32 million$449.68 millionViewN/AView Earnings Details
4/24/2013Q1 2013$0.25$0.26$367.38 million$373.29 millionViewN/AView Earnings Details
2/21/2013Q4 2012$0.21$0.27$348.70 million$369.88 millionViewN/AView Earnings Details
10/25/2012$0.13$0.21ViewN/AView Earnings Details
7/24/2012$0.07$0.05ViewN/AView Earnings Details
7/27/2011$0.28$0.41ViewN/AView Earnings Details
4/27/2011$0.12$0.20ViewN/AView Earnings Details
2/22/2011$0.21$0.19ViewN/AView Earnings Details
(Data available from 1/1/2011 forward)


Earnings Estimates for Cabot Oil & Gas Co. (NYSE:COG)
2017 EPS Consensus Estimate: $0.62
2018 EPS Consensus Estimate: $0.87
QuarterNumber of EstimatesLow EstimateHigh EstimateAverage Estimate
Q1 20176$0.12$0.17$0.16
Q2 20176$0.07$0.15$0.12
Q3 20175$0.09$0.20$0.14
Q4 20175$0.15$0.33$0.20
Q1 20184$0.17$0.24$0.22
Q2 20184$0.15$0.20$0.18
Q3 20184$0.17$0.21$0.20
Q4 20183$0.26$0.32$0.28
(Data provided by Zacks Investment Research)


Current Dividend Information for Cabot Oil & Gas Co. (NYSE:COG)
Next Dividend:5/31/2017
Annual Dividend:$0.08
Dividend Yield:0.35%
Dividend Growth:10.10% (3 Year Average)
Payout Ratio:-14.55% (Trailing 12 Months of Earnings)
11.11% (Based on This Year's Estimates)
8.79% (Based on Next Year's Estimates)
Dividend Payments by Quarter for Cabot Oil & Gas Co. (NYSE:COG)

Dividend History by Quarter for Cabot Oil & Gas Co. (NYSE:COG)
AnnouncedPeriodAmountYieldEx-Dividend DateRecord DatePayable Date
(Data available from 1/1/2013 forward)

Insider Trades

Insider Trading and Institutional Ownership History for Cabot Oil & Gas Co. (NYSE:COG)
Insider Ownership Percentage: 1.80%
Institutional Ownership Percentage: 95.27%
Insider Trades by Quarter for Cabot Oil & Gas Co. (NYSE:COG)
Institutional Ownership by Quarter for Cabot Oil & Gas Co. (NYSE:COG)
Insider Trades by Quarter for Cabot Oil & Gas Co. (NYSE:COG)
Transaction DateInsider NameTitleBuy/SellNumber of SharesAverage Share PriceTotal TransactionDetails
5/5/2017Todd M RoemerInsiderSell3,737$24.12$90,136.44View SEC Filing  
9/13/2016George Kevin CunninghamInsiderSell3,000$25.25$75,750.00View SEC Filing  
6/21/2016George Kevin CunninghamGeneral CounselSell6,178$25.32$156,426.96View SEC Filing  
5/5/2016George Kevin CunninghamGeneral CounselSell8,500$24.26$206,210.00View SEC Filing  
5/5/2016Robert S BoswellDirectorBuy5,000$24.35$121,750.00View SEC Filing  
12/28/2015George Kevin CunninghamGeneral CounselSell5,670$17.16$97,297.20View SEC Filing  
9/29/2015George Kevin CunninghamGeneral CounselSell3,623$22.37$81,046.51View SEC Filing  
4/30/2015Scott C SchroederCFOSell26,316$33.76$888,428.16View SEC Filing  
2/26/2015Rhys J BestDirectorBuy5,000$29.02$145,100.00View SEC Filing  
10/28/2014P Dexter PeacockDirectorSell100,000$30.75$3,075,000.00View SEC Filing  
6/30/2014George Kevin CunninghamGeneral CounselSell2,950$34.20$100,890.00View SEC Filing  
5/5/2014P Dexter PeacockDirectorSell30,000$38.63$1,158,900.00View SEC Filing  
12/20/2013Deidre ShearerInsiderSell1,000$38.53$38,530.00View SEC Filing  
11/8/2013Robert KelleyDirectorBuy14,000$33.05$462,700.00View SEC Filing  
10/28/2013George Kevin CunninghamGeneral CounselSell2,000$36.60$73,200.00View SEC Filing  
7/29/2013George Kevin CunninghamGeneral CounselSell5,922$76.60$453,625.20View SEC Filing  
(Data available from 1/1/2013 forward)


Headline Trends for Cabot Oil & Gas Co. (NYSE:COG)
Latest Headlines for Cabot Oil & Gas Co. (NYSE:COG)
DateHeadline logoCabot Oil & Gas Co. (COG) Receives Consensus Recommendation of "Buy" from Brokerages - May 26 at 2:32 PM logoWhy Crude Oil Is Crucial to Natural Gas–Weighted Stocks - May 23 at 4:22 PM logoFY2017 EPS Estimates for Cabot Oil & Gas Co. (COG) Increased by Analyst - May 22 at 7:22 AM logoCramer's Stop Trading: Energy glut is a weather story - May 19 at 4:18 PM logoQ2 2017 EPS Estimates for Cabot Oil & Gas Co. Boosted by Analyst (COG) - May 19 at 7:26 AM logoCabot Oil & Gas Corp. breached its 50 day moving average in a Bearish Manner : COG-US : May 18, 2017 - May 18 at 11:03 AM logoCabot Oil & Gas Co. (COG) PT Set at $23.00 by Jefferies Group LLC - May 17 at 8:32 PM logoCabot-Wellington, LLC Buys iShares Core MSCI EAFE, Vanguard Total Stock Market, Sells Johnson ... - May 16 at 4:28 PM logoETFs with exposure to Cabot Oil & Gas Corp. : May 15, 2017 - May 15 at 3:40 PM logoCabot Oil & Gas Co.'s (COG) "Buy" Rating Reaffirmed at BMO Capital Markets - May 15 at 9:52 AM logoCabot Oil & Gas Co. (COG) Raised to Neutral at Bank of America Corp - May 14 at 8:47 AM logoEx-Dividend Reminder: Cabot Oil & Gas, Valero Energy and Marathon Oil - May 11 at 5:04 PM logoCabot Oil & Gas Co. (COG) Expected to Announce Quarterly Sales of $460.45 Million - May 11 at 11:20 AM logoCabot Oil & Gas: An Awesome Q1, A 150% Dividend Increase, Guidance Raised, And Shares Go Down? - May 10 at 4:37 PM logo$0.15 Earnings Per Share Expected for Cabot Oil & Gas Co. (COG) This Quarter - May 9 at 12:28 PM logoTodd M. Roemer Sells 3,737 Shares of Cabot Oil & Gas Co. (COG) Stock - May 5 at 8:58 PM logoSeaport Global Securities Weighs in on Cabot Oil & Gas Co.'s Q2 2018 Earnings (COG) - May 4 at 6:18 PM logoFY2017 EPS Estimates for Cabot Oil & Gas Co. Increased by Analyst (COG) - May 4 at 3:40 PM logoResearch Reports on Oil & Gas Equities -- Denbury Resources, WPX Energy, ConocoPhillips, and Cabot Oil & Gas - PR Newswire (press release) - May 4 at 6:21 AM logoCabot Oil & Gas Co. (COG) to Issue Dividend Increase - $0.05 Per Share - May 3 at 11:04 PM logoCabot Oil & Gas Corporation Announces Dividend Increase of 150 Percent - May 3 at 9:24 PM logoCabot Oil & Gas Co. (COG) Rating Increased to C at TheStreet - May 3 at 5:34 PM logoCabot Oil & Gas Corp. breached its 50 day moving average in a Bearish Manner : COG-US : May 1, 2017 - May 2 at 7:54 PM logoCabot Oil & Gas Corp. :COG-US: Earnings Analysis: Q1, 2017 By the Numbers : May 1, 2017 - May 2 at 7:54 PM logoEdited Transcript of COG earnings conference call or presentation 28-Apr-17 1:30pm GMT - May 2 at 7:54 PM logoCabot Oil & Gas Co. (COG) Given Average Recommendation of "Buy" by Analysts - May 1 at 6:18 PM logoCabot Oil & Gas Co. (COG) Earns Overweight Rating from Piper Jaffray Companies - May 1 at 1:40 PM logoSomewhat Positive Press Coverage Likely to Impact Cabot Oil & Gas Co. (COG) Stock Price - April 29 at 9:34 PM logoCabot Oil & Gas Co. (COG) Announces Quarterly Earnings Results - April 29 at 1:29 AM logoCabot Oil & Gas Co. (COG) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS - April 29 at 1:21 AM logoCabot Oil & Gas Corporation Announces First Quarter 2017 Results - April 28 at 10:23 PM logoCabot (COG) Beats Q1 Earnings and Revenue Estimates - April 28 at 10:23 PM logoCabot Oil & Gas (COG) Q1 2017 Results - Earnings Call Transcript - Seeking Alpha - April 28 at 5:22 PM logoCabot Oil & Gas Co.'s (COG) "Buy" Rating Reaffirmed at Williams Capital - April 28 at 10:00 AM logoCabot beats Street 1Q forecasts - April 28 at 6:41 AM logoSomewhat Favorable Press Coverage Likely to Affect Cabot Oil & Gas Co. (COG) Stock Price - April 26 at 11:00 PM logoWith Oil And Gas Earnings On Deck, A Trading Opportunity In Leveraged ETFs - April 26 at 5:42 PM logoCabot Oil & Gas Co. to Post FY2017 Earnings of $0.72 Per Share, Williams Capital Forecasts (COG) - April 26 at 1:20 PM logoBrokers Offer Predictions for Cabot Oil & Gas Co.'s Q1 2017 Earnings (COG) - April 26 at 9:09 AM logoCan Cabot (COG) Spring a Surprise this Earnings Season? - April 25 at 12:08 PM logoCabot Oil & Gas Co. (COG) Given a $29.00 Price Target at Scotiabank - April 23 at 11:52 PM logoCabot Oil & Gas Co. (COG) Given News Sentiment Rating of 0.13 - April 23 at 5:05 PM logoCabot Oil & Gas: Still A Buy, Just Not A Strong Buy, Says Raymond James - April 21 at 4:29 PM logoCabot Oil & Gas Stock Falls on Raymond James Downgrade - April 21 at 4:29 PM logoWhat to Expect from Noble Energy’s 1Q17 Earnings - April 21 at 4:29 PM logoJefferies Group Brokers Raise Earnings Estimates for Cabot Oil & Gas Co. (COG) - April 21 at 12:10 PM logoPrice Targets for Cabot Oil & Gas in the Next 12 Months - April 21 at 10:48 AM logoShort Interest Trends in Cabot Oil & Gas Stock - April 21 at 10:48 AM logoQ2 2017 EPS Estimates for Cabot Oil & Gas Co. (COG) Boosted by Seaport Global Securities - April 21 at 10:31 AM logoRaymond James Financial, Inc. Reaffirms Outperform Rating for Cabot Oil & Gas Co. (COG) - April 21 at 9:56 AM



Cabot Oil & Gas Co. (COG) Chart for Saturday, May, 27, 2017

This page was last updated on 5/27/2017 by Staff