Contango Oil & Gas Company (NYSEMKT:MCF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Contango Oil & Gas is a Houston-based, independent natural gas and oil company. The Company explores, develops, produces and acquires natural gas and oil properties primarily onshore in the Gulf Coast and offshore in the Gulf of Mexico. “

Several other research analysts have also issued reports on MCF. Roth Capital reiterated a “buy” rating and issued a $10.00 price target on shares of Contango Oil & Gas in a report on Monday, October 2nd. Royal Bank Of Canada set a $11.00 price target on Contango Oil & Gas and gave the stock a “buy” rating in a report on Saturday, June 17th. Finally, ValuEngine lowered Contango Oil & Gas from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $10.67.

Contango Oil & Gas (NYSEMKT:MCF) last released its earnings results on Wednesday, August 2nd. The oil and natural gas company reported ($0.24) EPS for the quarter, missing the 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 business had revenue of $20.30 million for the quarter, compared to analyst estimates of $20.26 million. During the same period in the prior year, the business earned ($0.90) EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis.

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A number of large investors have recently made changes to their positions in the business. Proxima Capital Management LLC bought a new position in Contango Oil & Gas in the second quarter worth approximately $1,428,000. Dimensional Fund Advisors LP boosted its holdings in Contango Oil & Gas by 13.3% in the second 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 acquiring an additional 158,686 shares in the last quarter. FMR LLC boosted its holdings in Contango Oil & Gas by 4.6% in the second quarter. FMR LLC now owns 2,823,083 shares of the oil and natural gas company’s stock worth $18,745,000 after acquiring an additional 122,913 shares in the last quarter. Northern Trust Corp boosted its holdings in Contango Oil & Gas by 4.6% in the second quarter. Northern Trust Corp now owns 269,218 shares of the oil and natural gas company’s stock worth $1,788,000 after acquiring an additional 11,803 shares in the last quarter. Finally, Thrivent Financial For Lutherans boosted its holdings in Contango Oil & Gas by 925.5% in the second quarter. Thrivent Financial For Lutherans now owns 130,860 shares of the oil and natural gas company’s stock worth $869,000 after acquiring an additional 118,100 shares in the last quarter.

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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