Analysts expect that Contango Oil & Gas Company (NASDAQ:MCF) will report $19.83 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Contango Oil & Gas’ earnings, with the highest sales estimate coming in at $23.78 million and the lowest estimate coming in at $17.70 million. Contango Oil & Gas posted sales of $20.02 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 0.9%. The company is scheduled to report its next earnings report on Friday, March 8th.
On average, analysts expect that Contango Oil & Gas will report full-year sales of $78.96 million for the current financial year, with estimates ranging from $76.10 million to $83.79 million. For the next fiscal year, analysts forecast that the firm will report sales of $82.53 million, with estimates ranging from $63.30 million to $103.28 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Contango Oil & Gas.
Separately, Seaport Global Securities downgraded shares of Contango Oil & Gas from a “buy” rating to a “neutral” rating in a research note on Friday, September 7th.
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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