Contango Oil & Gas Company (MCF) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS
Contango Oil & Gas Company (NYSEMKT:MCF) posted its quarterly earnings results on Tuesday. The oil and natural gas company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05), reports. The company had revenue of $18.80 million during the quarter, compared to analyst estimates of $20.33 million. Contango Oil & Gas had a negative return on equity of 10.24% and a negative net margin of 29.76%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.55) earnings per share.
Shares of Contango Oil & Gas (NYSEMKT MCF) traded up $0.14 during trading on Tuesday, reaching $4.45. 201,542 shares of the company’s stock traded hands, compared to its average volume of 99,335. Contango Oil & Gas has a twelve month low of $3.57 and a twelve month high of $10.39.
A number of research firms have weighed in on MCF. Roth Capital reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Contango Oil & Gas in a research note on Monday, October 2nd. Zacks Investment Research raised shares of Contango Oil & Gas from a “sell” rating to a “hold” rating in a research report on Thursday, September 14th. Royal Bank Of Canada set a $8.00 price target on shares of Contango Oil & Gas and gave the company a “buy” rating in a research report on Thursday, August 24th. Finally, ValuEngine lowered shares of Contango Oil & Gas from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.67.
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Contango Oil & Gas Company Profile
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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