Contango Oil & Gas (NYSEAMERICAN:MCF) Sees Strong Trading Volume

Shares of Contango Oil & Gas (NYSEAMERICAN:MCF) saw an uptick in trading volume on Friday . 2,861,900 shares were traded during mid-day trading, an increase of 2,306% from the previous session’s volume of 118,940 shares.The stock last traded at $1.35 and had previously closed at $1.00.

Several research firms have recently weighed in on MCF. Roth Capital cut Contango Oil & Gas from a “neutral” rating to a “sell” rating and set a $2.00 price objective for the company. in a research report on Thursday, July 11th. Zacks Investment Research raised Contango Oil & Gas from a “sell” rating to a “hold” rating in a research report on Saturday, September 7th.

Contango Oil & Gas (NYSEAMERICAN:MCF) last posted its quarterly earnings data on Thursday, August 8th. The oil and natural gas company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). The business had revenue of $12.76 million during the quarter, compared to the consensus estimate of $14.53 million.



A number of hedge funds have recently modified their holdings of the stock. FMR LLC lifted its position in Contango Oil & Gas by 0.3% in the first quarter. FMR LLC now owns 3,594,539 shares of the oil and natural gas company’s stock worth $11,323,000 after purchasing an additional 11,499 shares during the period. MorganRosel Wealth Management LLC lifted its position in Contango Oil & Gas by 43.0% in the second quarter. MorganRosel Wealth Management LLC now owns 54,849 shares of the oil and natural gas company’s stock worth $95,000 after purchasing an additional 16,500 shares during the period. Vanguard Group Inc. lifted its position in Contango Oil & Gas by 2.1% in the second quarter. Vanguard Group Inc. now owns 1,204,105 shares of the oil and natural gas company’s stock worth $2,095,000 after purchasing an additional 24,457 shares during the period. Finally, King Luther Capital Management Corp lifted its position in Contango Oil & Gas by 8.5% in the first quarter. King Luther Capital Management Corp now owns 1,329,000 shares of the oil and natural gas company’s stock worth $4,186,000 after purchasing an additional 104,000 shares during the period.

About Contango Oil & Gas (NYSEAMERICAN:MCF)

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.

See Also: Commodities

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