Contango Oil & Gas (NYSEAMERICAN:MCF) saw a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 542,725 shares, a growth of 22.4% from the January 31st total of 443,504 shares. Based on an average trading volume of 384,940 shares, the days-to-cover ratio is currently 1.4 days. Currently, 2.2% of the company’s shares are sold short.
A number of equities analysts have issued reports on the company. Zacks Investment Research downgraded Contango Oil & Gas from a “hold” rating to a “sell” rating in a report on Tuesday. Ladenburg Thalmann Financial Services downgraded Contango Oil & Gas from a “buy” rating to a “neutral” rating and set a $4.00 price objective for the company. in a report on Friday, February 9th. Finally, Seaport Global Securities upgraded Contango Oil & Gas from a “neutral” rating to a “buy” rating in a report on Tuesday, December 19th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $6.67.
Large investors have recently modified their holdings of the company. Macquarie Group Ltd. bought a new position in shares of Contango Oil & Gas during the fourth quarter valued at $102,000. Alliancebernstein L.P. increased its holdings in Contango Oil & Gas by 11.0% in the 2nd quarter. Alliancebernstein L.P. now owns 24,244 shares of the oil and natural gas company’s stock worth $161,000 after buying an additional 2,400 shares in the last quarter. SG Americas Securities LLC bought a new stake in Contango Oil & Gas in the 3rd quarter worth about $140,000. Two Sigma Investments LP bought a new stake in Contango Oil & Gas in the 4th quarter worth about $150,000. Finally, Wells Fargo & Company MN increased its holdings in Contango Oil & Gas by 13.2% in the 2nd quarter. Wells Fargo & Company MN now owns 38,445 shares of the oil and natural gas company’s stock worth $255,000 after buying an additional 4,497 shares in the last quarter.
Shares of Contango Oil & Gas (MCF) traded up $0.03 during trading hours on Wednesday, hitting $3.63. The stock had a trading volume of 155,481 shares, compared to its average volume of 462,034. Contango Oil & Gas has a 1 year low of $2.22 and a 1 year high of $8.19. The company has a market capitalization of $87.24, a P/E ratio of -3.08 and a beta of 1.87.
Contango Oil & Gas (NYSEAMERICAN:MCF) last issued its quarterly earnings results on Friday, March 9th. The oil and natural gas company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.05). Contango Oil & Gas had a negative net margin of 36.73% and a negative return on equity of 11.98%. The company had revenue of $20.02 million for the quarter, compared to the consensus estimate of $19.38 million.
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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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