Contango Oil & Gas (NYSEAMERICAN:MCF) Shares Gap Up to $2.65

Contango Oil & Gas (NYSEAMERICAN:MCF) shares gapped up before the market opened on Tuesday . The stock had previously closed at $2.60, but opened at $2.65. Contango Oil & Gas shares last traded at $2.29, with a volume of 23,478 shares changing hands.

Separately, Zacks Investment Research raised Contango Oil & Gas from a “hold” rating to a “buy” rating and set a $1.50 target price for the company in a research note on Wednesday, April 8th.

Contango Oil & Gas (NYSEAMERICAN:MCF) last released its quarterly earnings data on Monday, March 30th. The oil and natural gas company reported ($0.13) earnings per share for the quarter. The firm had revenue of $37.19 million during the quarter.

Large investors have recently added to or reduced their stakes in the company. Sciencast Management LP purchased a new stake in shares of Contango Oil & Gas during the first quarter valued at $26,000. GSA Capital Partners LLP purchased a new stake in shares of Contango Oil & Gas during the first quarter valued at $26,000. Royal Bank of Canada boosted its position in shares of Contango Oil & Gas by 4,722.1% during the first quarter. Royal Bank of Canada now owns 24,930 shares of the oil and natural gas company’s stock valued at $37,000 after buying an additional 24,413 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Contango Oil & Gas by 572.7% during the first quarter. Tower Research Capital LLC TRC now owns 32,126 shares of the oil and natural gas company’s stock valued at $49,000 after buying an additional 27,350 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Contango Oil & Gas by 252.7% during the fourth quarter. Victory Capital Management Inc. now owns 15,324 shares of the oil and natural gas company’s stock valued at $60,000 after buying an additional 10,979 shares during the last quarter.

About Contango Oil & Gas (NYSEAMERICAN:MCF)

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, 2018, it had proved reserves of approximately 131.9 billion cubic feet equivalent, including 54.2 billion cubic feet of natural gas, 9.4 million barrels of crude oil and condensate, and 3.5 million barrels of natural gas liquids.

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