Contango Oil & Gas (NYSEAMERICAN:MCF) – Equities research analysts at SunTrust Banks cut their Q2 2018 earnings estimates for Contango Oil & Gas in a research report issued to clients and investors on Monday, May 7th, Zacks Investment Research reports. SunTrust Banks analyst N. Dingmann now anticipates that the oil and natural gas company will earn ($0.16) per share for the quarter, down from their previous forecast of ($0.13). SunTrust Banks also issued estimates for Contango Oil & Gas’ Q3 2018 earnings at ($0.13) EPS, Q4 2018 earnings at ($0.10) EPS and FY2019 earnings at ($0.19) EPS.
Contango Oil & Gas (NYSEAMERICAN:MCF) last announced its earnings results on Friday, March 9th. The oil and natural gas company reported ($0.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.05). The company had revenue of $20.02 million during the quarter, compared to the consensus estimate of $19.38 million. Contango Oil & Gas had a negative net margin of 36.73% and a negative return on equity of 11.98%.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Contango Oil & Gas from a “sell” rating to a “hold” rating in a research report on Wednesday, April 11th. Ladenburg Thalmann lowered shares of Contango Oil & Gas from a “buy” rating to a “neutral” rating and set a $4.00 target price for the company. in a research report on Friday, February 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $6.67.
Shares of Contango Oil & Gas opened at $4.45 on Thursday, according to MarketBeat Ratings. Contango Oil & Gas has a 52-week low of $2.22 and a 52-week high of $7.43.
Hedge funds and other institutional investors have recently modified their holdings of the business. Macquarie Group Ltd. acquired a new stake in Contango Oil & Gas in the 4th quarter valued at about $102,000. Two Sigma Investments LP acquired a new stake in Contango Oil & Gas in the 4th quarter valued at about $150,000. Schwab Charles Investment Management Inc. lifted its holdings in Contango Oil & Gas by 86.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 85,570 shares of the oil and natural gas company’s stock valued at $431,000 after acquiring an additional 39,717 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in Contango Oil & Gas by 51.5% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 99,650 shares of the oil and natural gas company’s stock valued at $470,000 after buying an additional 33,870 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Contango Oil & Gas by 225.3% during the first quarter. Wells Fargo & Company MN now owns 108,301 shares of the oil and natural gas company’s stock valued at $385,000 after buying an additional 75,006 shares in 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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