Insider Buying: Contango Oil & Gas (MCF) CFO Purchases 8,000 Shares of Stock
Contango Oil & Gas (NYSEAMERICAN:MCF) CFO E Joseph Grady acquired 8,000 shares of Contango Oil & Gas stock in a transaction that occurred on Thursday, November 30th. The stock was acquired at an average cost of $2.45 per share, with a total value of $19,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Contango Oil & Gas (NYSEAMERICAN MCF) traded up $0.17 during trading hours on Friday, reaching $2.44. 859,800 shares of the company’s stock were exchanged, compared to its average volume of 145,636. Contango Oil & Gas has a 52-week low of $2.22 and a 52-week high of $10.39.
Contango Oil & Gas (NYSEAMERICAN:MCF) last released its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.08). The firm had revenue of $18.80 million during the quarter, compared to analyst estimates of $20.33 million. Contango Oil & Gas had a negative net margin of 36.73% and a negative return on equity of 11.98%. Contango Oil & Gas’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.55) earnings per share.
Several equities research analysts recently issued reports on MCF shares. Royal Bank Of Canada set a $8.00 price objective on shares of Contango Oil & Gas and gave the company a “buy” rating in a research note on Thursday, August 24th. ValuEngine downgraded shares of Contango Oil & Gas from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Zacks Investment Research raised shares of Contango Oil & Gas from a “sell” rating to a “hold” rating in a research note on Thursday, September 14th. Finally, Roth Capital reissued a “buy” rating and issued a $10.00 target price on shares of Contango Oil & Gas in a research note on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Contango Oil & Gas currently has an average rating of “Hold” and a consensus target price of $8.00.
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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