Analysts Set Contango Oil & Gas (MCF) PT at $8.00

Contango Oil & Gas (NYSEAMERICAN:MCF) has received an average recommendation of “Hold” from the six analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $8.00.

MCF has been the subject of a number of analyst reports. Royal Bank of Canada set a $8.00 price target on Contango Oil & Gas and gave the company a “buy” rating in a research note on Thursday, August 24th. ValuEngine downgraded Contango Oil & Gas from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded Contango Oil & Gas from a “sell” rating to a “hold” rating in a research note on Thursday, September 14th. Roth Capital reiterated a “buy” rating and set a $10.00 price target on shares of Contango Oil & Gas in a research note on Monday, October 2nd. Finally, Seaport Global Securities upgraded Contango Oil & Gas from a “neutral” rating to a “buy” rating in a research note on Tuesday.

Large investors have recently bought and sold shares of the stock. Texas Permanent School Fund raised its holdings in shares of Contango Oil & Gas by 2.1% in the 2nd quarter. Texas Permanent School Fund now owns 16,803 shares of the oil and natural gas company’s stock worth $112,000 after purchasing an additional 341 shares during the period. SG Americas Securities LLC bought a new stake in shares of Contango Oil & Gas in the 3rd quarter worth approximately $140,000. Alliancebernstein L.P. raised its holdings in shares of Contango Oil & Gas by 11.0% in the 2nd quarter. Alliancebernstein L.P. now owns 24,244 shares of the oil and natural gas company’s stock worth $161,000 after purchasing an additional 2,400 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Contango Oil & Gas by 13.2% in the 2nd quarter. Wells Fargo & Company MN now owns 38,445 shares of the oil and natural gas company’s stock worth $255,000 after purchasing an additional 4,497 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Contango Oil & Gas by 7.7% in the 2nd quarter. Legal & General Group Plc now owns 40,270 shares of the oil and natural gas company’s stock worth $267,000 after purchasing an additional 2,868 shares during the period.

Shares of Contango Oil & Gas (NYSEAMERICAN MCF) traded up $0.13 on Tuesday, hitting $4.68. The stock had a trading volume of 823,599 shares, compared to its average volume of 209,677. The firm has a market cap of $81.93, a P/E ratio of -4.00 and a beta of 1.85. Contango Oil & Gas has a 12 month low of $2.22 and a 12 month high of $10.15.

Contango Oil & Gas (NYSEAMERICAN:MCF) last issued its earnings results on Tuesday, November 7th. The oil and natural gas company reported ($0.28) EPS 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 business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.55) earnings per share.

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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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