Contango Oil & Gas Company (MCF) Announces Earnings Results
Contango Oil & Gas Company (NYSEMKT:MCF) posted its earnings results on Wednesday. The oil and natural gas company reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by $0.08, Briefing.com reports. The firm had revenue of $20.30 million for the quarter, compared to analysts’ expectations of $20.26 million. Contango Oil & Gas had a return on equity of 1.49% and a net margin of 4.56%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.90) earnings per share.
Shares of Contango Oil & Gas (MCF) traded up 15.974% during midday trading on Friday, hitting $6.135. The stock had a trading volume of 85,745 shares. The firm has a 50-day moving average price of $6.37 and a 200-day moving average price of $7.12. The firm’s market cap is $154.87 million. Contango Oil & Gas has a 1-year low of $5.36 and a 1-year high of $11.98.
Several equities analysts recently commented on the company. Roth Capital assumed coverage on Contango Oil & Gas in a research note on Wednesday, July 12th. They issued a “buy” rating and a $10.00 target price for the company. Zacks Investment Research lowered Contango Oil & Gas from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. National Securities lowered Contango Oil & Gas from a “buy” rating to a “neutral” rating in a research note on Monday, May 15th. Finally, Royal Bank Of Canada set a $13.00 price target on Contango Oil & Gas and gave the stock a “buy” rating in a research note on Thursday, April 20th.
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Contango Oil & Gas Company Profile
Contango Oil & Gas Company (Contango) is an independent oil and natural gas company. The Company is engaged in the exploration, development, exploitation and acquisition of crude oil and natural gas properties in the onshore Texas Gulf Coast, offshore properties in the shallow waters of the Gulf of Mexico (GOM) and Rocky Mountain regions of the United States.
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