Contango Oil & Gas Company (MCF) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Contango Oil & Gas Company (NYSEMKT:MCF) in a research report report published on Friday morning. The brokerage currently has a $13.00 price objective on the stock, down from their previous price objective of $14.00.

Separately, Zacks Investment Research raised shares of Contango Oil & Gas Company from a sell rating to a hold rating in a research note on Thursday, February 9th.

Shares of Contango Oil & Gas Company (NYSEMKT:MCF) traded up 14.36% during midday trading on Friday, hitting $6.77. 345,242 shares of the stock traded hands. The company’s 50 day moving average price is $7.65 and its 200-day moving average price is $8.95. The stock’s market cap is $171.02 million. Contango Oil & Gas Company has a 12-month low of $5.62 and a 12-month high of $14.14.

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A number of large investors have recently made changes to their positions in MCF. Messner & Smith Theme Value Investment Management Ltd. CA boosted its stake in shares of Contango Oil & Gas Company by 108.4% in the third quarter. Messner & Smith Theme Value Investment Management Ltd. CA now owns 101,991 shares of the company’s stock valued at $1,043,000 after buying an additional 53,051 shares during the period. Matarin Capital Management LLC acquired a new stake in shares of Contango Oil & Gas Company during the third quarter valued at about $2,207,000. Ameriprise Financial Inc. boosted its stake in shares of Contango Oil & Gas Company by 81.3% in the third quarter. Ameriprise Financial Inc. now owns 581,827 shares of the company’s stock valued at $5,945,000 after buying an additional 260,846 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Contango Oil & Gas Company by 262.7% in the third quarter. JPMorgan Chase & Co. now owns 67,609 shares of the company’s stock valued at $691,000 after buying an additional 48,970 shares during the period. Finally, Texas Permanent School Fund boosted its stake in shares of Contango Oil & Gas Company by 25.3% in the third quarter. Texas Permanent School Fund now owns 16,891 shares of the company’s stock valued at $173,000 after buying an additional 3,413 shares during the period.

About Contango Oil & Gas Company

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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