Contango Oil & Gas (NYSEAMERICAN:MCF) Stock Crosses Below Two Hundred Day Moving Average of $0.00

Contango Oil & Gas (NYSEAMERICAN:MCF)’s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.00 and traded as low as $1.06. Contango Oil & Gas shares last traded at $1.06, with a volume of 1,039 shares changing hands.

MCF has been the subject of several research reports. Zacks Investment Research upgraded Contango Oil & Gas from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Roth Capital lowered Contango Oil & Gas from a “neutral” rating to a “sell” rating and set a $2.00 price target for the company. in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Contango Oil & Gas presently has an average rating of “Hold” and a consensus price target of $5.00.

Several hedge funds have recently modified their holdings of MCF. Vanguard Group Inc. increased its position in Contango Oil & Gas by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,204,105 shares of the oil and natural gas company’s stock worth $2,095,000 after buying an additional 24,457 shares during the period. MorganRosel Wealth Management LLC increased its position in Contango Oil & Gas by 43.0% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 54,849 shares of the oil and natural gas company’s stock worth $95,000 after buying an additional 16,500 shares during the period. FMR LLC increased its position in Contango Oil & Gas by 0.3% in the 1st quarter. FMR LLC now owns 3,594,539 shares of the oil and natural gas company’s stock worth $11,323,000 after buying an additional 11,499 shares during the period. King Luther Capital Management Corp increased its position in Contango Oil & Gas by 8.5% in the 1st quarter. King Luther Capital Management Corp now owns 1,329,000 shares of the oil and natural gas company’s stock worth $4,186,000 after buying an additional 104,000 shares during the period. Finally, Wedge Capital Management L L P NC increased its position in Contango Oil & Gas by 78.2% in the 1st quarter. Wedge Capital Management L L P NC now owns 215,151 shares of the oil and natural gas company’s stock worth $678,000 after buying an additional 94,435 shares during the period.

About Contango Oil & Gas (NYSEAMERICAN:MCF)

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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