Analysts Set Contango Oil & Gas (MCF) Target Price at $5.75

Shares of Contango Oil & Gas (NYSEAMERICAN:MCF) have been assigned a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $5.75.

Several research firms have commented on MCF. SunTrust Banks set a $4.00 price target on Contango Oil & Gas and gave the stock a “hold” rating in a research report on Tuesday, November 27th. Roth Capital set a $5.00 price target on Contango Oil & Gas and gave the stock a “buy” rating in a research report on Thursday, December 6th. Finally, Zacks Investment Research lowered Contango Oil & Gas from a “hold” rating to a “sell” rating in a research report on Wednesday, December 12th.

In other news, Director John C. Goff acquired 99,310 shares of Contango Oil & Gas stock in a transaction that occurred on Monday, December 24th. The stock was purchased at an average cost of $2.88 per share, with a total value of $286,012.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John C. Goff acquired 30,000 shares of Contango Oil & Gas stock in a transaction that occurred on Wednesday, December 26th. The shares were purchased at an average cost of $2.96 per share, with a total value of $88,800.00. The disclosure for this purchase can be found here.

A number of hedge funds have recently modified their holdings of the stock. Prescott Group Capital Management L.L.C. raised its holdings in shares of Contango Oil & Gas by 728.4% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 1,247,066 shares of the oil and natural gas company’s stock worth $4,053,000 after acquiring an additional 1,096,521 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of Contango Oil & Gas in the third quarter worth $357,000. Dimensional Fund Advisors LP raised its holdings in shares of Contango Oil & Gas by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,919,449 shares of the oil and natural gas company’s stock worth $11,862,000 after acquiring an additional 35,819 shares during the last quarter. King Luther Capital Management Corp acquired a new position in shares of Contango Oil & Gas in the fourth quarter worth $3,981,000. Finally, Mraz Amerine & Associates Inc. raised its holdings in shares of Contango Oil & Gas by 42.7% in the fourth quarter. Mraz Amerine & Associates Inc. now owns 35,093 shares of the oil and natural gas company’s stock worth $114,000 after acquiring an additional 10,500 shares during the last quarter.

Shares of NYSEAMERICAN MCF traded down $0.09 during midday trading on Tuesday, hitting $3.35. 206,436 shares of the company’s stock were exchanged, compared to its average volume of 121,391. Contango Oil & Gas has a twelve month low of $2.72 and a twelve month 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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Analyst Recommendations for Contango Oil & Gas (NYSEAMERICAN:MCF)

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