Contango Oil & Gas Company (MCF) Rating Reiterated by Royal Bank Of Canada

Contango Oil & Gas Company (NYSEAMERICAN:MCF)‘s stock had its “buy” rating reaffirmed by research analysts at Royal Bank Of Canada in a research note issued on Monday. They currently have a $6.00 target price on the oil and natural gas company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 93.55% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Contango Oil & Gas from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. ValuEngine downgraded Contango Oil & Gas from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Finally, Roth Capital restated 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 equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. Contango Oil & Gas has a consensus rating of “Hold” and a consensus target price of $8.00.

Shares of Contango Oil & Gas (MCF) opened at $3.10 on Monday. Contango Oil & Gas has a twelve month low of $3.02 and a twelve month high of $10.39.

Contango Oil & Gas (NYSEAMERICAN:MCF) last announced its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.08). Contango Oil & Gas had a negative return on equity of 10.24% and a negative net margin of 29.76%. The firm had revenue of $18.80 million during the quarter, compared to analysts’ expectations of $20.33 million. During the same period last year, the business posted ($0.55) EPS. The company’s revenue was down 3.9% compared to the same quarter last year.

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A number of large investors have recently added to or reduced their stakes in MCF. Proxima Capital Management LLC bought a new stake in Contango Oil & Gas in the 2nd quarter worth approximately $1,428,000. Messner & Smith Theme Value Investment Management Ltd. CA increased its stake in Contango Oil & Gas by 193.9% in the 3rd quarter. Messner & Smith Theme Value Investment Management Ltd. CA now owns 306,548 shares of the oil and natural gas company’s stock worth $1,694,000 after purchasing an additional 202,243 shares during the period. Dimensional Fund Advisors LP increased its stake in Contango Oil & Gas by 13.3% in the 2nd 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 purchasing an additional 158,686 shares during the period. FMR LLC increased its stake in Contango Oil & Gas by 4.6% in the 2nd quarter. FMR LLC now owns 2,823,083 shares of the oil and natural gas company’s stock worth $18,745,000 after purchasing an additional 122,913 shares during the period. Finally, Thrivent Financial For Lutherans increased its stake in Contango Oil & Gas by 925.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 130,860 shares of the oil and natural gas company’s stock worth $869,000 after purchasing 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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