Contango Oil & Gas (NYSEAMERICAN:MCF) was the target of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 443,504 shares, a decline of 39.0% from the January 12th total of 726,576 shares. Based on an average daily volume of 622,036 shares, the short-interest ratio is presently 0.7 days. Approximately 1.8% of the shares of the company are sold short.
A number of research analysts recently weighed in on the company. Ladenburg Thalmann Financial Services lowered Contango Oil & Gas from a “buy” rating to a “neutral” rating and set a $4.00 price objective on the stock. in a report on Friday, February 9th. Zacks Investment Research lowered Contango Oil & Gas from a “hold” rating to a “sell” rating in a report on Saturday, February 10th. Seaport Global Securities raised Contango Oil & Gas from a “neutral” rating to a “buy” rating in a report on Tuesday, December 19th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $6.00 price objective on shares of Contango Oil & Gas in a research report on Monday, November 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.67.
Contango Oil & Gas (NYSEAMERICAN:MCF) remained flat at $$3.15 during midday trading on Wednesday. The stock had a trading volume of 71,192 shares, compared to its average volume of 524,687. Contango Oil & Gas has a fifty-two week low of $2.22 and a fifty-two week high of $8.53. The stock has a market capitalization of $81.89, a PE ratio of -2.69 and a beta of 1.67.
Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Contango Oil & Gas by 4.6% in the 2nd quarter. FMR LLC now owns 2,823,083 shares of the oil and natural gas company’s stock worth $18,745,000 after purchasing an additional 122,913 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Contango Oil & Gas by 2.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,391,059 shares of the oil and natural gas company’s stock valued at $6,997,000 after buying an additional 37,942 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Contango Oil & Gas by 3,009.2% in the fourth quarter. Deutsche Bank AG now owns 878,026 shares of the oil and natural gas company’s stock valued at $4,133,000 after buying an additional 849,786 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Contango Oil & Gas by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 314,375 shares of the oil and natural gas company’s stock valued at $2,087,000 after buying an additional 2,639 shares in the last quarter. Finally, Messner & Smith Theme Value Investment Management Ltd. CA grew its stake in Contango Oil & Gas by 193.9% during the 3rd quarter. Messner & Smith Theme Value Investment Management Ltd. CA now owns 306,548 shares of the oil and natural gas company’s stock valued at $1,694,000 after purchasing an additional 202,243 shares in the last quarter.
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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.
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