Contango Oil & Gas (MCF) CFO E Joseph Grady Buys 8,000 Shares

Contango Oil & Gas (NYSEAMERICAN:MCF) CFO E Joseph Grady purchased 8,000 shares of Contango Oil & Gas stock in a transaction dated Thursday, November 30th. The shares were acquired at an average cost of $2.45 per share, for a total transaction of $19,600.00. The transaction was disclosed in a filing with the SEC, which is available through this link.

Contango Oil & Gas (NYSEAMERICAN MCF) opened at $3.29 on Friday. Contango Oil & Gas has a one year low of $2.22 and a one year high of $10.19.

Contango Oil & Gas (NYSEAMERICAN:MCF) last released its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.08). Contango Oil & Gas had a negative return on equity of 11.98% and a negative net margin of 36.73%. The firm had revenue of $18.80 million for the quarter, compared to analyst estimates of $20.33 million. During the same period last year, the firm earned ($0.55) EPS. The company’s quarterly revenue was down 3.9% compared to the same quarter last year.

A number of analysts have weighed in on the stock. Roth Capital reissued a “buy” rating and set a $10.00 price objective on shares of Contango Oil & Gas in a report on Monday, October 2nd. Royal Bank of Canada reissued a “buy” rating and set a $6.00 price objective on shares of Contango Oil & Gas in a report on Monday, November 13th. Zacks Investment Research raised shares of Contango Oil & Gas from a “sell” rating to a “hold” rating in a report on Thursday, September 14th. Finally, ValuEngine cut shares of Contango Oil & Gas from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $8.00.

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC raised its stake in Contango Oil & Gas by 4.6% in the 2nd quarter. FMR LLC now owns 2,823,083 shares of the oil and natural gas company’s stock valued at $18,745,000 after purchasing an additional 122,913 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Contango Oil & Gas by 2.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,391,059 shares of the oil and natural gas company’s stock valued at $6,997,000 after buying an additional 37,942 shares during the period. Vanguard Group Inc. grew its holdings in Contango Oil & Gas by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 1,261,174 shares of the oil and natural gas company’s stock valued at $9,232,000 after buying an additional 20,104 shares during the period. American Century Companies Inc. grew its holdings in Contango Oil & Gas by 7.2% in the 2nd quarter. American Century Companies Inc. now owns 1,071,200 shares of the oil and natural gas company’s stock valued at $7,113,000 after buying an additional 72,025 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Contango Oil & Gas by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 314,375 shares of the oil and natural gas company’s stock valued at $2,087,000 after buying an additional 2,639 shares during the period.

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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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