Zacks Investment Research upgraded shares of Contango Oil & Gas (NYSEAMERICAN:MCF) from a sell rating to a hold rating in a research report report published on Wednesday.

According to Zacks, “Contango Oil & Gas Company is a Houston, Texas based, independent energy company engaged in the acquisition, exploration, development, exploitation and production of crude oil and natural gas offshore in the shallow waters of the Gulf of Mexico and in the onshore Texas and Rocky Mountain regions of the United States. “

Several other research analysts have also recently commented on the stock. Roth Capital cut shares of Contango Oil & Gas from a buy rating to a neutral rating in a report on Tuesday, February 12th. SunTrust Banks set a $4.00 price target on shares of Contango Oil & Gas and gave the stock a hold rating in a report on Tuesday, November 27th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Contango Oil & Gas currently has a consensus rating of Hold and an average target price of $5.60.

NYSEAMERICAN MCF opened at $3.64 on Wednesday. Contango Oil & Gas has a 52 week low of $2.72 and a 52 week high of $7.32.

Contango Oil & Gas (NYSEAMERICAN:MCF) last posted its quarterly earnings results on Monday, March 18th. The oil and natural gas company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.09. The firm had revenue of $18.69 million for the quarter, compared to analyst estimates of $18.02 million.

In related news, Director John C. Goff bought 30,000 shares of the stock in a transaction dated Wednesday, December 26th. The stock was acquired at an average price of $2.96 per share, for a total transaction of $88,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John C. Goff bought 99,310 shares of the stock in a transaction dated Monday, December 24th. The stock was bought at an average price of $2.88 per share, with a total value of $286,012.80. The disclosure for this purchase can be found here.

Several institutional investors have recently modified their holdings of MCF. Brandywine Global Investment Management LLC raised its position in Contango Oil & Gas by 40.9% in the 4th quarter. Brandywine Global Investment Management LLC now owns 18,280 shares of the oil and natural gas company’s stock valued at $60,000 after purchasing an additional 5,310 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in Contango Oil & Gas in the 4th quarter valued at $68,000. Squarepoint Ops LLC raised its position in Contango Oil & Gas by 159.9% in the 4th quarter. Squarepoint Ops LLC now owns 26,771 shares of the oil and natural gas company’s stock valued at $87,000 after purchasing an additional 16,471 shares during the last quarter. Mraz Amerine & Associates Inc. raised its position in Contango Oil & Gas by 42.7% in the 4th quarter. Mraz Amerine & Associates Inc. now owns 35,093 shares of the oil and natural gas company’s stock valued at $114,000 after purchasing an additional 10,500 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Contango Oil & Gas by 181.3% in the 4th quarter. Bank of New York Mellon Corp now owns 46,084 shares of the oil and natural gas company’s stock valued at $150,000 after purchasing an additional 29,699 shares during the last quarter.

About Contango Oil & Gas

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, 2017, it had proved reserves of approximately 189.3 billion cubic feet equivalent, including 91.7 billion cubic feet of natural gas, 10.6 million barrels of crude oil and condensate, and 5.6 million barrels of natural gas liquids.

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