Zacks: Analysts Expect Contango Oil & Gas Company (MCF) to Post -$0.14 EPS

Brokerages expect that Contango Oil & Gas Company (NASDAQ:MCF) will report earnings per share of ($0.14) for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Contango Oil & Gas’ earnings, with the highest EPS estimate coming in at ($0.11) and the lowest estimate coming in at ($0.18). Contango Oil & Gas reported earnings per share of ($0.28) during the same quarter last year, which suggests a positive year-over-year growth rate of 50%. The company is expected to announce its next quarterly earnings results on Tuesday, November 6th.

On average, analysts expect that Contango Oil & Gas will report full-year earnings of ($0.57) per share for the current fiscal year, with EPS estimates ranging from ($0.59) to ($0.55). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.23) per share, with EPS estimates ranging from ($0.31) to ($0.13). Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Contango Oil & Gas.

Contango Oil & Gas (NASDAQ:MCF) last announced its quarterly earnings results on Thursday, August 9th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The firm had revenue of $18.45 million for the quarter, compared to the consensus estimate of $17.42 million.

Separately, Seaport Global Securities downgraded shares of Contango Oil & Gas from a “buy” rating to a “neutral” rating in a report on Friday, September 7th.

MCF stock traded up $0.01 during trading on Monday, hitting $4.62. The company had a trading volume of 205,462 shares, compared to its average volume of 372,407. Contango Oil & Gas has a fifty-two week low of $2.22 and a fifty-two week high of $7.32.

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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