Royal Bank Of Canada set a $8.00 target price on Contango Oil & Gas Company (NYSEMKT:MCF) in a research note released on Thursday morning. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

A number of other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Contango Oil & Gas from a hold rating to a sell rating in a research report on Tuesday, June 27th. National Securities lowered shares of Contango Oil & Gas from a buy rating to a neutral rating in a research note on Monday, May 15th. Finally, Roth Capital assumed coverage on shares of Contango Oil & Gas in a research note on Wednesday, July 12th. They issued a buy rating and a $10.00 price target for the company.

Contango Oil & Gas (MCF) opened at 4.62 on Thursday. The company has a 50-day moving average price of $5.65 and a 200-day moving average price of $6.74. Contango Oil & Gas has a 1-year low of $4.50 and a 1-year high of $11.98. The company’s market cap is $118.31 million.

Contango Oil & Gas (NYSEMKT:MCF) last released its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) 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 $20.30 million for the quarter, compared to analyst estimates of $20.26 million. During the same quarter in the previous year, the business posted ($0.90) earnings per share. Contango Oil & Gas’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, analysts expect that Contango Oil & Gas will post ($0.86) EPS for the current fiscal year.

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Several large investors have recently modified their holdings of MCF. AXA raised its stake in shares of Contango Oil & Gas by 113.1% in the first quarter. AXA now owns 68,400 shares of the oil and natural gas company’s stock valued at $501,000 after buying an additional 36,297 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in Contango Oil & Gas by 52.6% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 122,076 shares of the oil and natural gas company’s stock valued at $893,000 after buying an additional 42,076 shares in the last quarter. Messner & Smith Theme Value Investment Management Ltd. CA raised its stake in Contango Oil & Gas by 4.8% in the first quarter. Messner & Smith Theme Value Investment Management Ltd. CA now owns 105,753 shares of the oil and natural gas company’s stock valued at $774,000 after buying an additional 4,874 shares in the last quarter. Oxford Asset Management acquired a new stake in Contango Oil & Gas during the first quarter valued at approximately $263,000. Finally, State of Tennessee Treasury Department raised its stake in Contango Oil & Gas by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 21,021 shares of the oil and natural gas company’s stock valued at $154,000 after buying an additional 3,172 shares in the last quarter.

About Contango Oil & Gas

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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