Contango Oil & Gas (MCF) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Contango Oil & Gas (NYSEAMERICAN:MCF) from a sell rating to a hold rating in a report published on Wednesday morning.

According to Zacks, “Contango Oil & Gas Company is a Houston, Texas based, independent energy company engaged in the acquisition, exploration, development, exploitation and production of crude oil and natural gas offshore in the shallow waters of the Gulf of Mexico and in the onshore Texas and Rocky Mountain regions of the United States. “

A number of other research analysts have also recently commented on the stock. Seaport Global Securities upgraded shares of Contango Oil & Gas from a neutral rating to a buy rating in a research report on Tuesday, December 19th. Ladenburg Thalmann cut shares of Contango Oil & Gas from a buy rating to a neutral rating and set a $4.00 price target on the stock. in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Contango Oil & Gas presently has a consensus rating of Hold and an average target price of $6.67.



Shares of NYSEAMERICAN MCF opened at $3.37 on Wednesday. Contango Oil & Gas has a one year low of $2.22 and a one year high of $8.19.

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

Several large investors have recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan boosted its stake in shares of Contango Oil & Gas by 51.5% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 99,650 shares of the oil and natural gas company’s stock valued at $470,000 after purchasing an additional 33,870 shares during the period. Macquarie Group Ltd. purchased a new stake in shares of Contango Oil & Gas during the fourth quarter valued at approximately $102,000. Two Sigma Investments LP purchased a new stake in shares of Contango Oil & Gas during the fourth quarter valued at approximately $150,000. Deutsche Bank AG boosted its stake in shares of Contango Oil & Gas by 3,009.2% during the fourth quarter. Deutsche Bank AG now owns 878,026 shares of the oil and natural gas company’s stock valued at $4,133,000 after purchasing an additional 849,786 shares during the period. Finally, Thrivent Financial For Lutherans boosted its stake in shares of Contango Oil & Gas by 54.2% during the fourth quarter. Thrivent Financial For Lutherans now owns 202,835 shares of the oil and natural gas company’s stock valued at $955,000 after purchasing an additional 71,325 shares during the period.

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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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