Contango Oil & Gas (NYSEAMERICAN:MCF) – Equities research analysts at Seaport Global Securities upped their Q2 2018 earnings per share (EPS) estimates for Contango Oil & Gas in a report released on Tuesday, April 3rd. Seaport Global Securities analyst M. Kelly now forecasts that the oil and natural gas company will post earnings of ($0.10) per share for the quarter, up from their prior forecast of ($0.11). Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Contango Oil & Gas’ Q4 2018 earnings at ($0.06) EPS, FY2018 earnings at ($0.38) EPS, Q1 2019 earnings at ($0.05) EPS, Q2 2019 earnings at ($0.04) EPS, Q3 2019 earnings at ($0.01) EPS, Q4 2019 earnings at $0.02 EPS and FY2019 earnings at ($0.08) EPS.
Contango Oil & Gas (NYSEAMERICAN:MCF) last posted its earnings results on Friday, March 9th. The oil and natural gas company reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.05). The company had revenue of $20.02 million for the quarter, compared to the consensus estimate of $19.38 million. Contango Oil & Gas had a negative return on equity of 11.98% and a negative net margin of 36.73%.
Several other research firms also recently commented on MCF. Zacks Investment Research downgraded Contango Oil & Gas from a “hold” rating to a “sell” rating in a research report on Tuesday, March 13th. Ladenburg Thalmann Financial Services downgraded Contango Oil & Gas from a “buy” rating to a “neutral” rating and set a $4.00 target price for the company. in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $6.67.
Contango Oil & Gas stock opened at $3.30 on Thursday. Contango Oil & Gas has a one year low of $2.22 and a one year high of $8.19.
Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in Contango Oil & Gas by 2.8% in the 3rd 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 purchasing an additional 37,942 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Contango Oil & Gas by 86.6% in the 3rd 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 last quarter. Arrowstreet Capital Limited Partnership bought a new position in Contango Oil & Gas in the 4th quarter valued at $1,057,000. Municipal Employees Retirement System of Michigan raised its position in Contango Oil & Gas by 51.5% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 99,650 shares of the oil and natural gas company’s stock valued at $470,000 after purchasing an additional 33,870 shares during the last quarter. Finally, Thrivent Financial For Lutherans raised its position in Contango Oil & Gas by 54.2% in the 4th quarter. Thrivent Financial For Lutherans now owns 202,835 shares of the oil and natural gas company’s stock valued at $955,000 after purchasing an additional 71,325 shares during the last quarter.
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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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