Contango Oil & Gas (MCF) Shares Up 7.9%
Contango Oil & Gas (NYSEAMERICAN:MCF) shot up 7.9% during mid-day trading on Monday . The company traded as high as $3.62 and last traded at $3.55. 540,946 shares changed hands during trading, an increase of 172% from the average session volume of 198,576 shares. The stock had previously closed at $3.29.
A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada restated a “buy” rating and issued a $6.00 price objective on shares of Contango Oil & Gas in a report on Monday, November 13th. Zacks Investment Research lowered shares of Contango Oil & Gas from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Roth Capital restated a “buy” rating and issued a $10.00 price objective on shares of Contango Oil & Gas in a report on Monday, October 2nd. Finally, ValuEngine lowered shares of Contango Oil & Gas from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $8.00.
Contango Oil & Gas (NYSEAMERICAN:MCF) last issued its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported ($0.28) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.08). Contango Oil & Gas had a negative return on equity of 11.98% and a negative net margin of 36.73%. The business had revenue of $18.80 million for the quarter, compared to analysts’ expectations of $20.33 million. During the same period in the previous year, the business posted ($0.55) earnings per share. The company’s revenue for the quarter was down 3.9% on a year-over-year basis.
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About Contango Oil & Gas
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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