Insider Buying: Contango Oil & Gas (MCF) Director Acquires 40,000 Shares of Stock

Contango Oil & Gas (NYSEAMERICAN:MCF) Director John C. Goff purchased 40,000 shares of the business’s stock in a transaction on Wednesday, November 28th. The shares were acquired at an average cost of $3.85 per share, for a total transaction of $154,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NYSEAMERICAN MCF opened at $4.05 on Friday. Contango Oil & Gas has a 52 week low of $2.22 and a 52 week high of $7.32.

A number of institutional investors and hedge funds have recently bought and sold shares of MCF. Laurion Capital Management LP purchased a new stake in Contango Oil & Gas in the second quarter valued at approximately $119,000. PEAK6 Investments L.P. purchased a new stake in Contango Oil & Gas in the 2nd quarter valued at $180,000. Jane Street Group LLC purchased a new position in shares of Contango Oil & Gas during the 2nd quarter worth $219,000. Alambic Investment Management L.P. acquired a new position in Contango Oil & Gas during the 2nd quarter worth about $228,000. Finally, Fondren Management LP acquired a new position in Contango Oil & Gas during the 2nd quarter worth about $341,000.

MCF has been the subject of several research reports. SunTrust Banks set a $4.00 price objective on shares of Contango Oil & Gas and gave the company a “hold” rating in a research note on Tuesday, November 27th. Johnson Rice cut shares of Contango Oil & Gas from an “accumulate” rating to a “hold” rating and set a $5.00 price objective for the company. in a report on Thursday, August 9th. Royal Bank of Canada set a $7.00 price target on shares of Contango Oil & Gas and gave the company a “buy” rating in a research report on Thursday, September 20th. Zacks Investment Research downgraded shares of Contango Oil & Gas from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. Finally, Seaport Global Securities cut shares of Contango Oil & Gas from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a research note on Friday, September 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Contango Oil & Gas presently has an average rating of “Hold” and an average target price of $5.40.

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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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