Contango Oil & Gas (MCF) CFO E Joseph Grady Buys 8,000 Shares of Stock

Contango Oil & Gas (NYSEAMERICAN:MCF) CFO E Joseph Grady purchased 8,000 shares of Contango Oil & Gas stock in a transaction dated Thursday, November 30th. The shares were acquired at an average cost of $2.45 per share, for a total transaction of $19,600.00. The transaction was disclosed in a filing with the SEC, which is available through this link.

Shares of Contango Oil & Gas (NYSEAMERICAN:MCF) traded up $0.52 during trading hours on Friday, reaching $2.96. 1,470,000 shares of the company traded hands, compared to its average volume of 280,807. Contango Oil & Gas has a 52-week low of $2.22 and a 52-week high of $10.39.

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

MCF has been the topic of several research reports. ValuEngine cut shares of Contango Oil & Gas from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Royal Bank Of Canada reissued a “buy” rating and set a $6.00 price target on shares of Contango Oil & Gas in a research report on Monday, November 13th. Zacks Investment Research cut shares of Contango Oil & Gas from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Finally, Roth Capital reissued a “buy” rating and set a $10.00 price target on shares of Contango Oil & Gas in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $8.00.

A number of large investors have recently modified their holdings of MCF. Texas Permanent School Fund raised its holdings in Contango Oil & Gas by 2.1% in the second quarter. Texas Permanent School Fund now owns 16,803 shares of the oil and natural gas company’s stock valued at $112,000 after acquiring an additional 341 shares in the last quarter. Hartford Investment Management Co. acquired a new stake in Contango Oil & Gas in the second quarter valued at approximately $120,000. SG Americas Securities LLC acquired a new stake in Contango Oil & Gas in the third quarter valued at approximately $140,000. Alliancebernstein L.P. raised its holdings in Contango Oil & Gas by 11.0% in the second quarter. Alliancebernstein L.P. now owns 24,244 shares of the oil and natural gas company’s stock valued at $161,000 after acquiring an additional 2,400 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Contango Oil & Gas by 13.2% in the second quarter. Wells Fargo & Company MN now owns 38,445 shares of the oil and natural gas company’s stock valued at $255,000 after acquiring an additional 4,497 shares in the last quarter.

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About Contango Oil & Gas

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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