Contango Oil & Gas (NYSEAMERICAN:MCF) major shareholder John C. Goff purchased 21,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 26th. The stock was bought at an average cost of $5.52 per share, for a total transaction of $115,920.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Contango Oil & Gas opened at $5.93 on Thursday, according to Marketbeat Ratings. Contango Oil & Gas has a 52 week low of $2.22 and a 52 week high of $6.89.
Contango Oil & Gas (NYSEAMERICAN:MCF) last released its quarterly earnings data on Friday, May 4th. The oil and natural gas company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.03). The business had revenue of $20.44 million for the quarter, compared to analysts’ expectations of $19.90 million. Contango Oil & Gas had a negative net margin of 36.73% and a negative return on equity of 11.98%.
Separately, Zacks Investment Research downgraded shares of Contango Oil & Gas from a “hold” rating to a “sell” rating in a report on Tuesday, March 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $6.67.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. purchased a new stake in Contango Oil & Gas during the fourth quarter valued at about $102,000. Two Sigma Investments LP purchased a new stake in Contango Oil & Gas during the fourth quarter valued at about $150,000. Wells Fargo & Company MN lifted its holdings in Contango Oil & Gas by 225.3% during the first quarter. Wells Fargo & Company MN now owns 108,301 shares of the oil and natural gas company’s stock valued at $385,000 after purchasing an additional 75,006 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in Contango Oil & Gas by 51.5% during the fourth 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, Renaissance Technologies LLC lifted its holdings in Contango Oil & Gas by 352.9% during the fourth quarter. Renaissance Technologies LLC now owns 125,000 shares of the oil and natural gas company’s stock valued at $589,000 after purchasing an additional 97,400 shares during the last quarter.
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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