Roth Capital Lowers Contango Oil & Gas (NYSEAMERICAN:MCF) to Sell

Roth Capital cut shares of Contango Oil & Gas (NYSEAMERICAN:MCF) from a neutral rating to a sell rating in a research note issued to investors on Thursday, The Fly reports. Roth Capital currently has $2.00 price objective on the oil and natural gas company’s stock.

Separately, Zacks Investment Research raised shares of General Moly from a sell rating to a hold rating in a research report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $5.00.

Contango Oil & Gas stock opened at $1.65 on Thursday. Contango Oil & Gas has a fifty-two week low of $1.47 and a fifty-two week high of $7.32.

Contango Oil & Gas (NYSEAMERICAN:MCF) last released its earnings results on Wednesday, May 8th. The oil and natural gas company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.08). The firm had revenue of $14.01 million for the quarter, compared to analyst estimates of $15.52 million.

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its stake in Contango Oil & Gas by 0.3% in the first quarter. FMR LLC now owns 3,594,539 shares of the oil and natural gas company’s stock valued at $11,323,000 after acquiring an additional 11,499 shares during the last quarter. King Luther Capital Management Corp lifted its stake in Contango Oil & Gas by 8.5% in the first quarter. King Luther Capital Management Corp now owns 1,329,000 shares of the oil and natural gas company’s stock valued at $4,186,000 after acquiring an additional 104,000 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in Contango Oil & Gas by 78.2% in the first quarter. Wedge Capital Management L L P NC now owns 215,151 shares of the oil and natural gas company’s stock valued at $678,000 after acquiring an additional 94,435 shares during the last quarter. Avalon Advisors LLC acquired a new stake in Contango Oil & Gas in the first quarter valued at approximately $394,000. Finally, Comprehensive Portfolio Management LLC acquired a new stake in Contango Oil & Gas in the first quarter valued at approximately $32,000.

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, 2018, it had proved reserves of approximately 131.9 billion cubic feet equivalent, including 54.2 billion cubic feet of natural gas, 9.4 million barrels of crude oil and condensate, and 3.5 million barrels of natural gas liquids.

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Analyst Recommendations for Contango Oil & Gas (NYSEAMERICAN:MCF)

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