SunTrust Banks Reiterates Hold Rating for Contango Oil & Gas (MCF)

SunTrust Banks reaffirmed their hold rating on shares of Contango Oil & Gas (NYSEAMERICAN:MCF) in a report issued on Wednesday morning. SunTrust Banks currently has a $5.00 price objective on the oil and natural gas company’s stock. SunTrust Banks also issued estimates for Contango Oil & Gas’ Q3 2018 earnings at ($0.17) EPS, Q4 2018 earnings at ($0.10) EPS, FY2019 earnings at ($0.37) EPS and FY2020 earnings at ($0.12) EPS.

A number of other equities analysts also recently commented on MCF. Royal Bank of Canada restated a buy rating and issued a $6.00 target price on shares of Contango Oil & Gas in a research note on Friday, July 13th. Zacks Investment Research downgraded Contango Oil & Gas from a hold rating to a sell rating in a research note on Wednesday, July 25th. Johnson Rice downgraded Contango Oil & Gas from an accumulate rating to a hold rating and set a $5.00 target price for the company. in a research note on Thursday, August 9th. Finally, Seaport Global Securities downgraded Contango Oil & Gas from a buy rating to a neutral rating and set a $7.00 target price for the company. in a research note on Friday, September 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $5.60.

NYSEAMERICAN:MCF opened at $5.21 on Wednesday. Contango Oil & Gas has a one year low of $2.22 and a one year high of $7.32.

Contango Oil & Gas (NYSEAMERICAN:MCF) last issued its earnings results on Thursday, August 9th. The oil and natural gas company reported ($0.19) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.01). The business had revenue of $18.45 million during the quarter, compared to the consensus estimate of $17.42 million.

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in Contango Oil & Gas by 2,077.6% in the first quarter. JPMorgan Chase & Co. now owns 199,161 shares of the oil and natural gas company’s stock valued at $708,000 after acquiring an additional 190,015 shares during the period. FMR LLC boosted its position in shares of Contango Oil & Gas by 33.5% during the second quarter. FMR LLC now owns 3,583,039 shares of the oil and natural gas company’s stock worth $20,352,000 after buying an additional 899,900 shares during the period. Acadian Asset Management LLC boosted its position in shares of Contango Oil & Gas by 106.8% during the second quarter. Acadian Asset Management LLC now owns 289,082 shares of the oil and natural gas company’s stock worth $1,642,000 after buying an additional 149,313 shares during the period. Laurion Capital Management LP acquired a new position in shares of Contango Oil & Gas during the second quarter worth approximately $119,000. Finally, PEAK6 Investments L.P. acquired a new position in shares of Contango Oil & Gas during the second quarter worth approximately $180,000.

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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