Cabot Oil & Gas Corporation COG reported first-quarter 2019 earnings per share — adjusted for special items — of 73 cents, surpassing the Zacks Consensus Estimate of 67 cents on the back of lower average unit costs, and price and output gains. The bottom line also increased significantly from the year-ago level of 28 cents.However, the Texas-based upstream player reported revenues of 641.7 million, lagging the Zacks Consensus Estimate of 676 million. The top line, however, increased 35% from a year ago.Cabot Oil & Gas Corporation Price, Consensus and EPS Surprise Cabot Oil & Gas Corporation Price, Consensus and EPS Surprise | Cabot Oil & Gas Corporation QuoteBringing good news for investors, the natural gas explorer raised quarterly dividend by 29% to 9 cents per share. This marks the fourth payout hike in the last two years. The dividend will be payable on May 29, 2019 to its shareholders of record as of May 15.Production, Prices, Costs & Drilling StatisticsCabot’s overall production during the quarter totaled 204.8 billion cubic feet equivalent (Bcfe) — 100% gas — up 20.7% from the prior-year quarter’s 169.6 Bcfe. The average realized natural gas price (excluding hedging) increased 23.6% from the year-ago quarter to $3.09 per thousand cubic feet. Cabot drilled 25 net wells and completed 14 during the quarter.Total average unit costs declined to $1.48 per thousand cubic feet equivalent (Mcfe) from the year-ago figure of $1.58. While depreciation charges, interest expenses, general/administrative and direct costs per Mcfe declined, transportation and exploration expenses increased.Financial PositionOperating cash flows were $585.3 million in the quarter (up 114.6% year over year), while capital expenditures totaled $195.6 million (up 25%). Free cash flow (FCF) — which is a key metric to gauge a company’s financial health— soared 248% y/y to $308.4 million. As of Mar 31, 2019, Cabot had $315 million in cash/cash equivalents and $1.2 billion in long-term debt, with a debt-to-capitalization ratio of 34.4%.GuidanceFor the second quarter, Cabot provided its net production guidance in the range of 2,300-2,350 million cubic feet equivalent a day. Cabot reiterated full-year production growth guidance at 20%, based on a capital expenditure projection of $800 million.Zacks Rank and Other Stocks to ConsiderCabot currently carries a Zacks Rank #2 (Buy).Other top-ranked players in the same industry include Murphy Oil Corp. MUR, W&T Offshore, Inc. WTI and Anadarko Petroleum Corp. APC. While Murphy Oil and W&T Offshore sport a Zacks Rank #1 (Strong Buy), Anadarko Petroleum carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.Zacks' Top 10 Stocks for 2019In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.See Latest Stocks Today >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cabot Oil & Gas Corporation (COG): Free Stock Analysis Report W&T Offshore, Inc. (WTI): Free Stock Analysis Report Anadarko Petroleum Corporation (APC): Free Stock Analysis Report Murphy Oil Corporation (MUR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research