Contango Oil & Gas (NYSEAMERICAN:MCF) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Contango Oil & Gas (NYSEAMERICAN:MCF) from a sell rating to a hold rating in a research report report published on Thursday morning, Zacks.com reports.

According to Zacks, “Contango Oil & Gas Company is a Houston, Texas based, independent energy company engaged in the acquisition, exploration, development, exploitation and production of crude oil and natural gas offshore in the shallow waters of the Gulf of Mexico and in the onshore Texas and Rocky Mountain regions of the United States. “

Contango Oil & Gas stock opened at $1.65 on Thursday. Contango Oil & Gas has a 12-month low of $1.47 and a 12-month high of $7.32.

Contango Oil & Gas (NYSEAMERICAN:MCF) last released its earnings results on Wednesday, May 8th. The oil and natural gas company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.08). The business had revenue of $14.01 million during the quarter, compared to analysts’ expectations of $15.52 million.

Institutional investors have recently added to or reduced their stakes in the business. Comprehensive Portfolio Management LLC bought a new stake in shares of Contango Oil & Gas during the first quarter worth about $32,000. Brandywine Global Investment Management LLC grew its holdings in shares of Contango Oil & Gas by 40.9% during the fourth quarter. Brandywine Global Investment Management LLC now owns 18,280 shares of the oil and natural gas company’s stock worth $60,000 after purchasing an additional 5,310 shares during the last quarter. Two Sigma Advisers LP bought a new stake in shares of Contango Oil & Gas during the fourth quarter worth about $68,000. Squarepoint Ops LLC grew its holdings in shares of Contango Oil & Gas by 159.9% during the fourth quarter. Squarepoint Ops LLC now owns 26,771 shares of the oil and natural gas company’s stock worth $87,000 after purchasing an additional 16,471 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Contango Oil & Gas by 181.3% during the fourth quarter. Bank of New York Mellon Corp now owns 46,084 shares of the oil and natural gas company’s stock worth $150,000 after purchasing an additional 29,699 shares during the last quarter.

About Contango Oil & Gas

Contango Oil & Gas Company, an independent oil and natural gas company, acquires, explores, develops, exploits, and produces crude oil and natural gas properties in the shallow waters of the Gulf of Mexico and onshore properties in Texas and Wyoming in the United States. As of December 31, 2018, it had proved reserves of approximately 131.9 billion cubic feet equivalent, including 54.2 billion cubic feet of natural gas, 9.4 million barrels of crude oil and condensate, and 3.5 million barrels of natural gas liquids.

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

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