Royal Bank Of Canada reissued their buy rating on shares of Contango Oil & Gas Company (NYSEAMERICAN:MCF) in a research report sent to investors on Monday morning. They currently have a $6.00 target price on the oil and natural gas company’s stock.

A number of other equities research analysts also recently weighed in on the company. Roth Capital reaffirmed a buy rating and issued a $10.00 target price on shares of Contango Oil & Gas in a report on Monday, October 2nd. Zacks Investment Research raised Contango Oil & Gas from a sell rating to a hold rating in a research report on Thursday, September 14th. Finally, ValuEngine lowered Contango Oil & Gas from a sell rating to a strong sell rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. Contango Oil & Gas currently has a consensus rating of Hold and a consensus target price of $8.00.

Contango Oil & Gas (NYSEAMERICAN MCF) traded down $0.08 during mid-day trading on Monday, hitting $2.97. The stock had a trading volume of 186,600 shares, compared to its average volume of 128,961. Contango Oil & Gas has a 52 week low of $2.95 and a 52 week high of $10.39.

Contango Oil & Gas (NYSEAMERICAN:MCF) last posted its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The firm had revenue of $18.80 million for the quarter, compared to analyst estimates of $20.33 million. Contango Oil & Gas had a negative return on equity of 10.24% and a negative net margin of 29.76%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.55) earnings per share.

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A number of hedge funds have recently modified their holdings of MCF. Texas Permanent School Fund boosted its position in Contango Oil & Gas by 2.1% during the second quarter. Texas Permanent School Fund now owns 16,803 shares of the oil and natural gas company’s stock valued at $112,000 after buying an additional 341 shares during the period. Legal & General Group Plc increased its holdings in shares of Contango Oil & Gas by 1.7% in the 1st quarter. Legal & General Group Plc now owns 37,402 shares of the oil and natural gas company’s stock worth $273,000 after buying an additional 618 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Contango Oil & Gas by 3.6% in the 2nd quarter. Rhumbline Advisers now owns 45,558 shares of the oil and natural gas company’s stock worth $303,000 after buying an additional 1,600 shares during the last quarter. GRT Capital Partners L.L.C. increased its holdings in shares of Contango Oil & Gas by 4.4% in the 2nd quarter. GRT Capital Partners L.L.C. now owns 47,743 shares of the oil and natural gas company’s stock worth $317,000 after buying an additional 1,992 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Contango Oil & Gas by 1.3% during the 2nd quarter. Principal Financial Group Inc. now owns 175,053 shares of the oil and natural gas company’s stock worth $1,162,000 after purchasing an additional 2,244 shares during the period.

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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