Contango Oil & Gas (NASDAQ:MCF) was downgraded by equities research analysts at Seaport Global Securities from a “buy” rating to a “neutral” rating in a report released on Friday, September 7th.

Shares of NASDAQ:MCF traded up $0.07 during trading on Friday, hitting $6.35. 347,323 shares of the company were exchanged, compared to its average volume of 392,907. Contango Oil & Gas has a 12-month low of $2.22 and a 12-month high of $7.25.

Contango Oil & Gas (NASDAQ:MCF) last announced its earnings results on Thursday, August 9th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). The firm had revenue of $18.45 million for the quarter, compared to analyst estimates of $17.42 million.

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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