Contango Oil & Gas (NYSEAMERICAN:MCF) Shares Cross Below 200-Day Moving Average of $2.16

Contango Oil & Gas (NYSEAMERICAN:MCF) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.16 and traded as low as $2.07. Contango Oil & Gas shares last traded at $2.11, with a volume of 3,173 shares trading hands.

A number of equities analysts have weighed in on MCF shares. LADENBURG THALM/SH SH reiterated a “neutral” rating and set a $2.50 price objective (up previously from $1.00) on shares of Contango Oil & Gas in a research note on Monday, September 30th. Zacks Investment Research upgraded Contango Oil & Gas from a “sell” rating to a “hold” rating in a research note on Saturday, September 7th. Finally, Roth Capital upgraded Contango Oil & Gas from a “sell” rating to a “neutral” rating and set a $1.40 price objective for the company in a research note on Tuesday, September 24th.

The stock has a 50 day simple moving average of $1.21 and a two-hundred day simple moving average of $2.16.

Contango Oil & Gas (NYSEAMERICAN:MCF) last announced its quarterly earnings results on Thursday, August 8th. The oil and natural gas company reported ($0.12) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.12). The business had revenue of $12.76 million during the quarter, compared to analysts’ expectations of $14.53 million.

In other Contango Oil & Gas news, Director John C. Goff purchased 2,210,525 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average price of $0.95 per share, for a total transaction of $2,099,998.75. Following the purchase, the director now directly owns 2,280,186 shares in the company, valued at $2,166,176.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional investors have recently made changes to their positions in the stock. MorganRosel Wealth Management LLC increased its stake in shares of Contango Oil & Gas by 43.0% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 54,849 shares of the oil and natural gas company’s stock valued at $95,000 after purchasing an additional 16,500 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Contango Oil & Gas by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,204,105 shares of the oil and natural gas company’s stock valued at $2,095,000 after purchasing an additional 24,457 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Contango Oil & Gas by 0.3% in the 1st quarter. FMR LLC now owns 3,594,539 shares of the oil and natural gas company’s stock valued at $11,323,000 after purchasing an additional 11,499 shares in the last quarter.

Contango Oil & Gas Company Profile (NYSEAMERICAN:MCF)

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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