Double-Camp,
I believe cormorants do migrate, but not quite like other bird species. If they find a location (ie...your pond) with a good supply of food, they can stay until they literally knock it out. At that time, they'll move on. I know they'll migrate up and down coastlines, though.
I'm proud to say that my brother-in-law and I are in hot competition for the $200 bounty that has been set on bringing in either of the 2 cormorants we've frequently seen on our place. May the more accurate and stealthy man win!