Contango Oil & Gas (NYSEAMERICAN:MCF) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Contango Oil & Gas (NYSEAMERICAN:MCF) from a hold rating to a sell rating in a research note released on Tuesday, Zacks.com reports.

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. “

Separately, Roth Capital cut Contango Oil & Gas from a neutral rating to a sell rating and set a $2.00 price target for the company. in a research report on Thursday, July 11th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Contango Oil & Gas has a consensus rating of Hold and an average price target of $5.00.



Shares of MCF opened at $1.09 on Tuesday. Contango Oil & Gas has a one year low of $1.00 and a one year high of $7.32.

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Contango Oil & Gas by 0.7% during the 4th quarter. BlackRock Inc. now owns 433,413 shares of the oil and natural gas company’s stock valued at $1,408,000 after buying an additional 3,044 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Contango Oil & Gas by 181.3% during the 4th quarter. Bank of New York Mellon Corp now owns 46,084 shares of the oil and natural gas company’s stock valued at $150,000 after buying an additional 29,699 shares during the last quarter. Northern Trust Corp raised its stake in shares of Contango Oil & Gas by 25.6% during the 4th quarter. Northern Trust Corp now owns 128,255 shares of the oil and natural gas company’s stock valued at $416,000 after buying an additional 26,164 shares during the last quarter. Two Sigma Advisers LP purchased a new position in shares of Contango Oil & Gas during the 4th quarter valued at about $68,000. Finally, Avalon Advisors LLC purchased a new position in shares of Contango Oil & Gas during the 1st quarter valued at about $394,000.

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, 2018, it had proved reserves of approximately 131.9 billion cubic feet equivalent, including 54.2 billion cubic feet of natural gas, 9.4 million barrels of crude oil and condensate, and 3.5 million barrels of natural gas liquids.

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