Insider Buying: Contango Oil & Gas (MCF) Director Acquires $5,669,192.00 in Stock
Contango Oil & Gas (NYSEAMERICAN:MCF) Director John C. Goff purchased 1,417,298 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The stock was bought at an average cost of $4.00 per share, with a total value of $5,669,192.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
MCF stock opened at $3.74 on Thursday. Contango Oil & Gas has a 1 year low of $2.22 and a 1 year high of $7.32.
A number of research firms recently issued reports on MCF. Zacks Investment Research downgraded shares of Contango Oil & Gas from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. SunTrust Banks reissued a “hold” rating and issued a $5.00 price target on shares of Contango Oil & Gas in a research note on Wednesday, November 7th. Johnson Rice downgraded shares of Contango Oil & Gas from an “accumulate” rating to a “hold” rating and set a $5.00 price target for the company. in a research note on Thursday, August 9th. Royal Bank of Canada set a $7.00 price target on shares of Contango Oil & Gas and gave the stock a “buy” rating in a research note on Thursday, September 20th. Finally, Seaport Global Securities downgraded shares of Contango Oil & Gas from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a research note on Friday, September 7th. One investment 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. Contango Oil & Gas currently has a consensus rating of “Hold” and an average target price of $5.60.
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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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