Contango Oil & Gas (MCF) Cut to Neutral at Ladenburg Thalmann Financial Services

Ladenburg Thalmann Financial Services cut shares of Contango Oil & Gas (NYSEAMERICAN:MCF) from a buy rating to a neutral rating in a research report report published on Friday morning, Marketbeat.com reports. Ladenburg Thalmann Financial Services currently has $4.00 price objective on the oil and natural gas company’s stock.

Several other brokerages have also weighed in on MCF. Seaport Global Securities raised Contango Oil & Gas from a neutral rating to a buy rating in a research report on Tuesday, December 19th. Royal Bank of Canada reaffirmed a buy rating and issued a $6.00 target price on shares of Contango Oil & Gas in a research report on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $6.67.

Contango Oil & Gas (NYSEAMERICAN MCF) opened at $3.23 on Friday. The firm has a market capitalization of $74.23, a price-to-earnings ratio of -2.76 and a beta of 1.67. Contango Oil & Gas has a 52-week low of $2.22 and a 52-week high of $9.60.

Large investors have recently added to or reduced their stakes in the business. Alliancebernstein L.P. raised its position in Contango Oil & Gas by 11.0% in the second quarter. Alliancebernstein L.P. now owns 24,244 shares of the oil and natural gas company’s stock valued at $161,000 after purchasing an additional 2,400 shares during the period. SG Americas Securities LLC purchased a new position in Contango Oil & Gas in the third quarter valued at about $140,000. Wells Fargo & Company MN raised its position in Contango Oil & Gas by 13.2% in the second quarter. Wells Fargo & Company MN now owns 38,445 shares of the oil and natural gas company’s stock valued at $255,000 after purchasing an additional 4,497 shares during the period. Teachers Advisors LLC raised its position in Contango Oil & Gas by 6.7% in the second quarter. Teachers Advisors LLC now owns 49,030 shares of the oil and natural gas company’s stock valued at $326,000 after purchasing an additional 3,077 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in Contango Oil & Gas by 86.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 85,570 shares of the oil and natural gas company’s stock valued at $431,000 after purchasing an additional 39,717 shares during the period.

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Contango Oil & Gas Company Profile

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.

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

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