Contango Oil & Gas (MCF) Receives Average Rating of “Hold” from Brokerages

Shares of Contango Oil & Gas (NYSEAMERICAN:MCF) have been assigned a consensus recommendation of “Hold” from the six research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $8.00.

A number of equities research analysts have recently issued reports on MCF shares. Roth Capital restated a “buy” rating and issued a $10.00 target price on shares of Contango Oil & Gas in a research note on Monday, October 2nd. Zacks Investment Research lowered shares of Contango Oil & Gas from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Royal Bank of Canada restated a “buy” rating and issued a $6.00 target price on shares of Contango Oil & Gas in a research note on Monday, November 13th. Finally, Seaport Global Securities upgraded shares of Contango Oil & Gas from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 19th.

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of Contango Oil & Gas during the 3rd quarter valued at about $140,000. Alliancebernstein L.P. grew its position in shares of Contango Oil & Gas by 11.0% during the 2nd quarter. Alliancebernstein L.P. now owns 24,244 shares of the oil and natural gas company’s stock valued at $161,000 after buying an additional 2,400 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Contango Oil & Gas by 13.2% during the 2nd quarter. Wells Fargo & Company MN now owns 38,445 shares of the oil and natural gas company’s stock valued at $255,000 after buying an additional 4,497 shares during the last quarter. Legal & General Group Plc grew its position in shares of Contango Oil & Gas by 7.7% during the 2nd quarter. Legal & General Group Plc now owns 40,270 shares of the oil and natural gas company’s stock valued at $267,000 after buying an additional 2,868 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Contango Oil & Gas by 3.6% during the 2nd quarter. Rhumbline Advisers now owns 45,558 shares of the oil and natural gas company’s stock valued at $303,000 after buying an additional 1,600 shares during the last quarter.

Contango Oil & Gas (NYSEAMERICAN:MCF) opened at $5.58 on Friday. Contango Oil & Gas has a 1-year low of $2.22 and a 1-year high of $10.15. The company has a market cap of $138.77, a price-to-earnings ratio of -4.77 and a beta of 1.82.

Contango Oil & Gas (NYSEAMERICAN:MCF) last issued its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). Contango Oil & Gas had a negative return on equity of 11.98% and a negative net margin of 36.73%. The firm had revenue of $18.80 million during the quarter, compared to analyst estimates of $20.33 million. During the same quarter in the prior year, the firm earned ($0.55) EPS. The business’s quarterly revenue was down 3.9% compared to the same quarter last year.

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Contango Oil & Gas Company Profile

Contango Oil & Gas Company (Contango) is an independent oil and natural gas company. The Company is engaged in the exploration, development, exploitation and acquisition of crude oil and natural gas properties in the onshore Texas Gulf Coast, offshore properties in the shallow waters of the Gulf of Mexico (GOM) and Rocky Mountain regions of the United States.

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