Contango Oil & Gas (MCF) Forecasted to Post Q2 2018 Earnings of ($0.18) Per Share

Contango Oil & Gas (NYSEAMERICAN:MCF) – Seaport Global Securities decreased their Q2 2018 EPS estimates for shares of Contango Oil & Gas in a report issued on Tuesday, May 8th, Zacks Investment Research reports. Seaport Global Securities analyst M. Kelly now anticipates that the oil and natural gas company will earn ($0.18) per share for the quarter, down from their previous forecast of ($0.10). Seaport Global Securities also issued estimates for Contango Oil & Gas’ Q3 2018 earnings at ($0.14) EPS, Q4 2018 earnings at ($0.11) EPS, FY2018 earnings at ($0.64) EPS, Q1 2019 earnings at ($0.10) EPS, Q2 2019 earnings at ($0.09) EPS, Q3 2019 earnings at ($0.05) EPS, Q4 2019 earnings at ($0.02) EPS and FY2019 earnings at ($0.26) EPS.

Several other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Contango Oil & Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, April 11th. Ladenburg Thalmann lowered shares of Contango Oil & Gas from a “buy” rating to a “neutral” rating and set a $4.00 target price for the company. in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $6.67.

Contango Oil & Gas opened at $4.50 on Thursday, MarketBeat.com reports. Contango Oil & Gas has a 12-month low of $4.19 and a 12-month high of $4.41.

Contango Oil & Gas (NYSEAMERICAN:MCF) last issued its earnings results on Friday, March 9th. The oil and natural gas company reported ($0.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.05). The business had revenue of $20.02 million during the quarter, compared to analyst estimates of $19.38 million. Contango Oil & Gas had a negative net margin of 36.73% and a negative return on equity of 11.98%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. purchased a new position in Contango Oil & Gas in the fourth quarter worth approximately $102,000. Two Sigma Investments LP purchased a new position in Contango Oil & Gas in the fourth quarter worth approximately $150,000. Wells Fargo & Company MN lifted its stake in Contango Oil & Gas by 225.3% in the first quarter. Wells Fargo & Company MN now owns 108,301 shares of the oil and natural gas company’s stock worth $385,000 after acquiring an additional 75,006 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Contango Oil & Gas by 86.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 85,570 shares of the oil and natural gas company’s stock worth $431,000 after acquiring an additional 39,717 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its stake in Contango Oil & Gas by 51.5% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 99,650 shares of the oil and natural gas company’s stock worth $470,000 after acquiring an additional 33,870 shares during the last quarter.

About Contango Oil & Gas

Contango Oil & Gas Company, an independent oil and natural gas company, acquires, explores, develops, exploits, and produces crude oil and natural gas properties in the shallow waters of the Gulf of Mexico and onshore properties in Texas and Wyoming in the United States. As of December 31, 2017, it had proved reserves of approximately 189.3 billion cubic feet equivalent, including 91.7 billion cubic feet of natural gas, 10.6 million barrels of crude oil and condensate, and 5.6 million barrels of natural gas liquids.

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Earnings History and Estimates for Contango Oil & Gas (NYSEAMERICAN:MCF)

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