ValuEngine lowered shares of Contango Oil & Gas Company (NYSEMKT:MCF) from a sell rating to a strong sell rating in a research note released on Friday morning.

A number of other research firms have also recently weighed in on MCF. National Securities cut shares of Contango Oil & Gas from a buy rating to a neutral rating in a report on Monday, May 15th. Zacks Investment Research raised shares of Contango Oil & Gas from a sell rating to a hold rating in a report on Tuesday, July 4th. Royal Bank Of Canada set a $11.00 price objective on shares of Contango Oil & Gas and gave the stock a buy rating in a report on Saturday, June 17th. Finally, Roth Capital began coverage on shares of Contango Oil & Gas in a report on Wednesday, July 12th. They set a buy rating and a $10.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $9.69.

Contango Oil & Gas (MCF) traded down 1.53% during midday trading on Friday, hitting $4.52. 100,519 shares of the stock were exchanged. The company’s market cap is $115.75 million. The firm’s 50 day moving average price is $5.39 and its 200 day moving average price is $6.61. Contango Oil & Gas has a 12 month low of $4.37 and a 12 month high of $11.98.

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 for the quarter, missing analysts’ consensus estimates 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 company had revenue of $20.30 million for the quarter, compared to analyst estimates of $20.26 million. During the same period in the previous year, the business posted ($0.90) EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities research analysts forecast that Contango Oil & Gas will post ($0.86) earnings per share for the current fiscal year.

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Institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of Contango Oil & Gas by 13.4% in the first quarter. Wells Fargo & Company MN now owns 33,948 shares of the oil and natural gas company’s stock worth $248,000 after buying an additional 4,000 shares during the period. Bank of New York Mellon Corp raised its position in Contango Oil & Gas by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 311,736 shares of the oil and natural gas company’s stock worth $2,282,000 after buying an additional 6,139 shares during the period. State of Tennessee Treasury Department raised its position 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 worth $154,000 after buying an additional 3,172 shares during the period. AQR Capital Management LLC raised its position in Contango Oil & Gas by 11.1% in the first quarter. AQR Capital Management LLC now owns 540,878 shares of the oil and natural gas company’s stock worth $3,959,000 after buying an additional 53,826 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Contango Oil & Gas by 8.2% in the first quarter. Ameriprise Financial Inc. now owns 708,542 shares of the oil and natural gas company’s stock worth $5,188,000 after buying an additional 53,472 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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