Contango Oil & Gas Company (NYSEMKT:MCF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.

According to Zacks, “Contango Oil & Gas is a Houston-based, independent natural gas and oil company. The Company explores, develops, produces and acquires natural gas and oil properties primarily onshore in the Gulf Coast and offshore in the Gulf of Mexico. “

Other analysts have also issued reports about the company. Royal Bank Of Canada set a $11.00 price target on Contango Oil & Gas and gave the company a “buy” rating in a research note on Saturday, June 17th. ValuEngine lowered Contango Oil & Gas from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Finally, Roth Capital assumed coverage on Contango Oil & Gas in a research note on Wednesday, July 12th. They set a “buy” rating and a $10.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Contango Oil & Gas presently has an average rating of “Hold” and an average price target of $9.69.

Contango Oil & Gas (NYSEMKT MCF) traded up 1.18% on Thursday, reaching $4.27. 159,360 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $4.88 and its 200 day moving average is $6.35. Contango Oil & Gas has a 52 week low of $3.97 and a 52 week high of $11.98. The company’s market cap is $109.35 million.

Contango Oil & Gas (NYSEMKT:MCF) last released its earnings results on Wednesday, August 2nd. The oil and natural gas company reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $20.30 million during the quarter, compared to the consensus estimate of $20.26 million. During the same quarter in the prior year, the firm earned ($0.90) EPS. The business’s revenue was up 4.6% on a year-over-year basis. On average, equities analysts anticipate that Contango Oil & Gas will post ($0.86) earnings per share for the current year.

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Several institutional investors have recently bought and sold shares of the stock. Proxima Capital Management LLC acquired a new position in shares of Contango Oil & Gas in the second quarter worth approximately $1,428,000. Dimensional Fund Advisors LP lifted its stake in shares of 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 worth $8,985,000 after acquiring an additional 158,686 shares during the period. FMR LLC lifted its stake in shares of 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 worth $18,745,000 after acquiring an additional 122,913 shares during the period. Northern Trust Corp lifted its stake in shares of Contango Oil & Gas by 4.6% in the second quarter. Northern Trust Corp now owns 269,218 shares of the oil and natural gas company’s stock worth $1,788,000 after acquiring an additional 11,803 shares during the period. Finally, Thrivent Financial For Lutherans lifted its stake in shares of Contango Oil & Gas by 925.5% in the second quarter. Thrivent Financial For Lutherans now owns 130,860 shares of the oil and natural gas company’s stock worth $869,000 after acquiring an additional 118,100 shares during the period.

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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