Contango Oil & Gas (NYSEAMERICAN:MCF) has been assigned an average rating of “Hold” from the six brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $5.60.
A number of brokerages recently weighed in on MCF. SunTrust Banks restated a “hold” rating and set a $5.00 price objective on shares of Contango Oil & Gas in a research report on Wednesday. Zacks Investment Research lowered Contango Oil & Gas from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. Royal Bank of Canada set a $7.00 target price on Contango Oil & Gas and gave the stock a “buy” rating in a report on Thursday, September 20th. Seaport Global Securities downgraded Contango Oil & Gas from a “buy” rating to a “neutral” rating and set a $7.00 target price on the stock. in a report on Friday, September 7th. Finally, Johnson Rice downgraded Contango Oil & Gas from an “accumulate” rating to a “hold” rating and set a $5.00 target price on the stock. in a report on Thursday, August 9th.
Shares of MCF opened at $5.21 on Wednesday. Contango Oil & Gas has a 52-week low of $2.22 and a 52-week high of $7.32.
A number of hedge funds have recently bought and sold shares of the stock. FMR LLC increased its holdings in Contango Oil & Gas by 33.5% during the 2nd quarter. FMR LLC now owns 3,583,039 shares of the oil and natural gas company’s stock worth $20,352,000 after purchasing an additional 899,900 shares in the last quarter. Millennium Management LLC bought a new stake in Contango Oil & Gas during the 2nd quarter worth approximately $2,178,000. Dimensional Fund Advisors LP increased its holdings in Contango Oil & Gas by 15.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,736,469 shares of the oil and natural gas company’s stock worth $6,164,000 after purchasing an additional 237,464 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Contango Oil & Gas by 2,077.6% during the 1st quarter. JPMorgan Chase & Co. now owns 199,161 shares of the oil and natural gas company’s stock worth $708,000 after purchasing an additional 190,015 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. bought a new stake in Contango Oil & Gas during the 3rd quarter worth approximately $930,000.
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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