Zacks Investment Research upgraded shares of Contango Oil & Gas Company (NYSEMKT:MCF) from a hold rating to a buy rating in a research note issued to investors on Tuesday. Zacks Investment Research currently has $6.75 price target on the oil and natural gas company’s stock.

According to Zacks, “Contango Oil & Gas is a Houston-based, independent natural gas and oil company. The Company explores, develops, produces and acquires natural gas and oil properties primarily onshore in the Gulf Coast and offshore in the Gulf of Mexico. “

Separately, Royal Bank of Canada dropped their target price on Contango Oil & Gas Company from $14.00 to $13.00 and set an outperform rating for the company in a research report on Friday, March 17th.

Contango Oil & Gas Company (NYSEMKT:MCF) opened at 7.33 on Tuesday. Contango Oil & Gas Company has a 12-month low of $5.62 and a 12-month high of $14.14. The company’s market cap is $185.04 million. The company’s 50 day moving average is $7.07 and its 200 day moving average is $8.54.

Contango Oil & Gas Company (NYSEMKT:MCF) last issued its quarterly earnings data on Wednesday, March 15th. The oil and natural gas company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.17. The company earned $21.66 million during the quarter, compared to analysts’ expectations of $19.68 million. The company’s revenue was up .8% on a year-over-year basis. During the same period last year, the firm earned ($5.85) earnings per share. Analysts forecast that Contango Oil & Gas Company will post ($0.62) earnings per share for the current fiscal year.

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Several institutional investors have recently made changes to their positions in MCF. Ameriprise Financial Inc. boosted its stake in Contango Oil & Gas Company by 81.3% in the third quarter. Ameriprise Financial Inc. now owns 581,827 shares of the oil and natural gas company’s stock valued at $5,945,000 after buying an additional 260,846 shares during the last quarter. Matarin Capital Management LLC acquired a new stake in Contango Oil & Gas Company during the third quarter valued at $2,207,000. AQR Capital Management LLC boosted its stake in Contango Oil & Gas Company by 18.9% in the fourth quarter. AQR Capital Management LLC now owns 487,052 shares of the oil and natural gas company’s stock valued at $4,549,000 after buying an additional 77,405 shares during the last quarter. Prudential Financial Inc. boosted its stake in Contango Oil & Gas Company by 108.0% in the third quarter. Prudential Financial Inc. now owns 138,776 shares of the oil and natural gas company’s stock valued at $1,418,000 after buying an additional 72,061 shares during the last quarter. Finally, Messner & Smith Theme Value Investment Management Ltd. CA boosted its stake in Contango Oil & Gas Company by 108.4% in the third quarter. Messner & Smith Theme Value Investment Management Ltd. CA now owns 101,991 shares of the oil and natural gas company’s stock valued at $1,043,000 after buying an additional 53,051 shares during the last quarter.

About Contango Oil & Gas Company

Contango Oil & Gas Company (Contango) is an independent oil and natural gas company. The Company is engaged in the exploration, development, exploitation and acquisition of crude oil and natural gas properties in the onshore Texas Gulf Coast, offshore properties in the shallow waters of the Gulf of Mexico (GOM) and Rocky Mountain regions of the United States.

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