Contango Oil & Gas (NYSEAMERICAN:MCF)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $2.54 and last traded at $2.60, with a volume of 252404 shares traded. The stock had previously closed at $2.66.

MCF has been the topic of a number of research reports. Zacks Investment Research cut Contango Oil & Gas from a “hold” rating to a “sell” rating in a report on Saturday, January 26th. Roth Capital cut Contango Oil & Gas from a “buy” rating to a “neutral” rating in a report on Tuesday, February 12th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $5.60.

Contango Oil & Gas (NYSEAMERICAN:MCF) last released its quarterly earnings results on Monday, March 18th. The oil and natural gas company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.09. The firm had revenue of $18.69 million during the quarter, compared to analyst estimates of $18.02 million.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MCF. BlackRock Inc. grew its holdings in Contango Oil & Gas by 0.7% during the 4th quarter. BlackRock Inc. now owns 433,413 shares of the oil and natural gas company’s stock valued at $1,408,000 after buying an additional 3,044 shares during the last quarter. Brandywine Global Investment Management LLC grew its holdings in Contango Oil & Gas by 40.9% during the 4th quarter. Brandywine Global Investment Management LLC now owns 18,280 shares of the oil and natural gas company’s stock valued at $60,000 after buying an additional 5,310 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Contango Oil & Gas by 142.3% during the 1st quarter. JPMorgan Chase & Co. now owns 9,843 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 5,781 shares during the last quarter. Comprehensive Portfolio Management LLC acquired a new stake in Contango Oil & Gas during the 1st quarter valued at $32,000. Finally, Mraz Amerine & Associates Inc. grew its holdings in Contango Oil & Gas by 42.7% during the 4th quarter. Mraz Amerine & Associates Inc. now owns 35,093 shares of the oil and natural gas company’s stock valued at $114,000 after buying an additional 10,500 shares during the last quarter.

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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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