Contango Oil & Gas (MCF) Receives $5.75 Consensus PT from Brokerages

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Contango Oil & Gas (NYSEAMERICAN:MCF) has been assigned an average rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $5.75.

Several equities research analysts have recently weighed in on the company. Roth Capital downgraded Contango Oil & Gas from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 12th. SunTrust Banks set a $4.00 target price on Contango Oil & Gas and gave the stock a “hold” rating in a research report on Tuesday, November 27th. Finally, Zacks Investment Research downgraded Contango Oil & Gas from a “hold” rating to a “sell” rating in a research report on Saturday, January 26th.

In other Contango Oil & Gas news, Director John C. Goff purchased 30,000 shares of Contango Oil & Gas stock in a transaction that occurred on Wednesday, December 26th. The stock was purchased at an average price of $2.96 per share, with a total value of $88,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John C. Goff purchased 99,310 shares of Contango Oil & Gas stock in a transaction that occurred on Monday, December 24th. The stock was acquired at an average cost of $2.88 per share, with a total value of $286,012.80. The disclosure for this purchase can be found here.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in Contango Oil & Gas by 0.7% during the fourth quarter. BlackRock Inc. now owns 433,413 shares of the oil and natural gas company’s stock valued at $1,408,000 after buying an additional 3,044 shares in the last quarter. Brandywine Global Investment Management LLC raised its stake in Contango Oil & Gas by 40.9% during the fourth 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 buying an additional 5,310 shares in the last quarter. Mraz Amerine & Associates Inc. raised its stake in Contango Oil & Gas by 42.7% during the fourth quarter. Mraz Amerine & Associates Inc. now owns 35,093 shares of the oil and natural gas company’s stock valued at $114,000 after buying an additional 10,500 shares in the last quarter. Squarepoint Ops LLC raised its stake in Contango Oil & Gas by 159.9% during the fourth quarter. Squarepoint Ops LLC now owns 26,771 shares of the oil and natural gas company’s stock valued at $87,000 after buying an additional 16,471 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in Contango Oil & Gas by 12.5% during the fourth quarter. California Public Employees Retirement System now owns 176,214 shares of the oil and natural gas company’s stock valued at $573,000 after buying an additional 19,566 shares in the last quarter.

Shares of NYSEAMERICAN MCF traded down $0.09 on Tuesday, hitting $3.35. The company had a trading volume of 206,436 shares, compared to its average volume of 121,391. Contango Oil & Gas has a 12-month low of $2.72 and a 12-month high of $7.32.

Contango Oil & Gas Company Profile

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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Analyst Recommendations for Contango Oil & Gas (NYSEAMERICAN:MCF)

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