Contango Oil & Gas’ (MCF) Hold Rating Reiterated at SunTrust Banks

SunTrust Banks reiterated their hold rating on shares of Contango Oil & Gas (NYSEAMERICAN:MCF) in a research note issued to investors on Wednesday morning. They currently have a $5.00 target price on the oil and natural gas company’s stock. SunTrust Banks also issued estimates for Contango Oil & Gas’ Q3 2018 earnings at ($0.17) EPS, Q4 2018 earnings at ($0.10) EPS, FY2019 earnings at ($0.37) EPS and FY2020 earnings at ($0.12) EPS.

A number of other research firms have also weighed in on MCF. Zacks Investment Research lowered shares of Contango Oil & Gas from a hold rating to a sell rating in a research note on Wednesday, October 10th. Seaport Global Securities downgraded shares of Contango Oil & Gas from a buy rating to a neutral rating and set a $7.00 target price for the company. in a report on Friday, September 7th. Royal Bank of Canada reiterated a buy rating and issued a $6.00 target price on shares of Contango Oil & Gas in a report on Friday, July 13th. Finally, Johnson Rice downgraded shares of Contango Oil & Gas from an accumulate rating to a hold rating and set a $5.00 target price for the company. in a report on Thursday, August 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $5.60.

Shares of MCF opened at $5.21 on Wednesday. Contango Oil & Gas has a 12-month low of $2.22 and a 12-month high of $7.32.

Contango Oil & Gas (NYSEAMERICAN:MCF) last released its quarterly earnings data on Thursday, August 9th. The oil and natural gas company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.01). The company had revenue of $18.45 million for the quarter, compared to the consensus estimate of $17.42 million.

A number of institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN increased its holdings in shares of 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 acquiring an additional 75,006 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Contango Oil & Gas by 2,077.6% during the first quarter. JPMorgan Chase & Co. now owns 199,161 shares of the oil and natural gas company’s stock valued at $708,000 after acquiring an additional 190,015 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Contango Oil & Gas by 15.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,736,469 shares of the oil and natural gas company’s stock valued at $6,164,000 after acquiring an additional 237,464 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Contango Oil & Gas by 106.8% during the second quarter. Acadian Asset Management LLC now owns 289,082 shares of the oil and natural gas company’s stock valued at $1,642,000 after acquiring an additional 149,313 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in shares of Contango Oil & Gas during the second quarter valued at about $424,000.

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

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