Contango Oil & Gas Company (NYSEMKT:MCF) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday.

A number of other equities analysts have also recently commented on the company. Zacks Investment Research cut Contango Oil & Gas from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Roth Capital initiated coverage on Contango Oil & Gas in a report on Wednesday, July 12th. They set a “buy” rating and a $10.00 target price for the company. Royal Bank Of Canada set a $8.00 target price on Contango Oil & Gas and gave the company a “buy” rating in a report on Thursday, August 24th. Finally, National Securities cut Contango Oil & Gas from a “buy” rating to a “neutral” rating in a report on Monday, May 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.69.

Contango Oil & Gas (NYSEMKT MCF) traded down 1.53% during mid-day trading on Friday, reaching $4.52. The company’s stock had a trading volume of 100,519 shares. The firm’s 50 day moving average is $5.39 and its 200-day moving average is $6.61. Contango Oil & Gas has a 12-month low of $4.49 and a 12-month high of $11.98. The company’s market cap is $115.75 million.

Contango Oil & Gas (NYSEMKT:MCF) last announced its earnings results on Wednesday, August 2nd. The oil and natural gas company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by $0.08. Contango Oil & Gas had a negative net margin of 29.76% and a negative return on equity of 10.24%. The firm had revenue of $20.30 million for the quarter, compared to analyst estimates of $20.26 million. During the same period in the previous year, the company earned ($0.90) EPS. Contango Oil & Gas’s revenue was up 4.6% compared to the same quarter last year. Equities analysts anticipate that Contango Oil & Gas will post ($0.86) earnings per share for the current fiscal year.

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Large investors have recently bought and sold shares of the stock. FMR LLC boosted its stake in Contango Oil & Gas by 4.6% in the second quarter. FMR LLC now owns 2,823,083 shares of the oil and natural gas company’s stock valued at $18,745,000 after buying an additional 122,913 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Contango Oil & Gas by 13.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,353,117 shares of the oil and natural gas company’s stock valued at $8,985,000 after buying an additional 158,686 shares in the last quarter. Vanguard Group Inc. boosted its stake in Contango Oil & Gas by 1.6% in the first quarter. Vanguard Group Inc. now owns 1,261,174 shares of the oil and natural gas company’s stock valued at $9,232,000 after buying an additional 20,104 shares in the last quarter. American Century Companies Inc. boosted its stake in Contango Oil & Gas by 7.2% in the second quarter. American Century Companies Inc. now owns 1,071,200 shares of the oil and natural gas company’s stock valued at $7,113,000 after buying an additional 72,025 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Contango Oil & Gas by 8.2% in the first quarter. Ameriprise Financial Inc. now owns 708,542 shares of the oil and natural gas company’s stock valued at $5,188,000 after buying an additional 53,472 shares in the last quarter.

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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