Contango Oil & Gas (MCF) Downgraded to Neutral at Ladenburg Thalmann Financial Services

Contango Oil & Gas (NYSEAMERICAN:MCF) was downgraded by stock analysts at Ladenburg Thalmann Financial Services from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, Marketbeat reports. They currently have a $4.00 target price on the oil and natural gas company’s stock. Ladenburg Thalmann Financial Services’ price objective would indicate a potential upside of 29.87% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on MCF. Royal Bank of Canada restated a “buy” rating and issued a $6.00 target price on shares of Contango Oil & Gas in a research report on Monday, November 13th. Seaport Global Securities upgraded Contango Oil & Gas from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $6.67.

Shares of Contango Oil & Gas (NYSEAMERICAN:MCF) traded down $0.18 during mid-day trading on Friday, reaching $3.08. The company had a trading volume of 820,006 shares, compared to its average volume of 593,909. Contango Oil & Gas has a 1-year low of $2.22 and a 1-year high of $9.60. The company has a market cap of $74.23, a price-to-earnings ratio of -2.63 and a beta of 1.67.

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Contango Oil & Gas in the third quarter valued at $140,000. Alliancebernstein L.P. lifted its holdings in shares of Contango Oil & Gas by 11.0% in the second quarter. Alliancebernstein L.P. now owns 24,244 shares of the oil and natural gas company’s stock valued at $161,000 after purchasing an additional 2,400 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Contango Oil & Gas by 13.2% in the second quarter. Wells Fargo & Company MN now owns 38,445 shares of the oil and natural gas company’s stock valued at $255,000 after purchasing an additional 4,497 shares in the last quarter. Teachers Advisors LLC lifted its holdings in shares of Contango Oil & Gas by 6.7% in the second quarter. Teachers Advisors LLC now owns 49,030 shares of the oil and natural gas company’s stock valued at $326,000 after purchasing an additional 3,077 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Contango Oil & Gas by 86.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 85,570 shares of the oil and natural gas company’s stock valued at $431,000 after purchasing an additional 39,717 shares in the last quarter.

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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.

Analyst Recommendations for Contango Oil & Gas (NYSEAMERICAN:MCF)

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