Contango Oil & Gas (NYSEAMERICAN:MCF) Downgraded to Sell at Zacks Investment Research
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. “
A number of other analysts also recently weighed in on the stock. LADENBURG THALM/SH SH reissued a neutral rating and set a $2.50 price target (up previously from $1.00) on shares of Contango Oil & Gas in a research report on Monday, September 30th. Roth Capital raised shares of Contango Oil & Gas from a sell rating to a neutral rating and set a $1.40 price target on the stock in a report on Tuesday, September 24th.
In other news, Director John C. Goff bought 2,210,525 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was bought at an average price of $0.95 per share, for a total transaction of $2,099,998.75. Following the transaction, the director now owns 2,280,186 shares in the company, valued at $2,166,176.70. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
Several large investors have recently modified their holdings of the business. Virtu Financial LLC raised its holdings in shares of Contango Oil & Gas by 194.5% in the 3rd quarter. Virtu Financial LLC now owns 32,275 shares of the oil and natural gas company’s stock worth $90,000 after purchasing an additional 21,314 shares in the last quarter. MorganRosel Wealth Management LLC grew its holdings in Contango Oil & Gas by 43.0% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 54,849 shares of the oil and natural gas company’s stock valued at $95,000 after buying an additional 16,500 shares during the last quarter. Millennium Management LLC grew its holdings in Contango Oil & Gas by 63.9% in the 3rd quarter. Millennium Management LLC now owns 211,929 shares of the oil and natural gas company’s stock valued at $589,000 after buying an additional 82,601 shares during the last quarter. Sunbelt Securities Inc. bought a new position in Contango Oil & Gas in the 3rd quarter worth approximately $824,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Contango Oil & Gas by 2.1% during the second quarter. Vanguard Group Inc. now owns 1,204,105 shares of the oil and natural gas company’s stock worth $2,095,000 after buying an additional 24,457 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, 2018, it had proved reserves of approximately 131.9 billion cubic feet equivalent, including 54.2 billion cubic feet of natural gas, 9.4 million barrels of crude oil and condensate, and 3.5 million barrels of natural gas liquids.
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