Contango Oil & Gas (NYSEAMERICAN:MCF) Stock Price Up 3.3%

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Shares of Contango Oil & Gas (NYSEAMERICAN:MCF) rose 3.3% on Thursday . The company traded as high as $3.77 and last traded at $3.80, approximately 3,717 shares were traded during mid-day trading. A decline of 99% from the average daily volume of 307,954 shares. The stock had previously closed at $3.68.

Separately, Zacks Investment Research upgraded Contango Oil & Gas from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research note on Wednesday, January 15th.

The company’s 50 day simple moving average is $1.21.

Contango Oil & Gas (NYSEAMERICAN:MCF) last announced its quarterly earnings results on Tuesday, November 12th. The oil and natural gas company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.03). The firm had revenue of $12.55 million during the quarter, compared to analysts’ expectations of $13.31 million.

Several institutional investors have recently made changes to their positions in MCF. King Luther Capital Management Corp increased its stake in shares of Contango Oil & Gas by 22.3% during the fourth quarter. King Luther Capital Management Corp now owns 5,486,894 shares of the oil and natural gas company’s stock valued at $20,137,000 after buying an additional 1,000,000 shares during the period. Cannell Capital LLC purchased a new position in shares of Contango Oil & Gas during the fourth quarter valued at $3,487,000. Sunbelt Securities Inc. purchased a new position in shares of Contango Oil & Gas during the third quarter valued at $824,000. Credit Suisse AG purchased a new position in shares of Contango Oil & Gas during the fourth quarter valued at $716,000. Finally, Millennium Management LLC increased its stake in shares of Contango Oil & Gas by 63.9% during the third quarter. Millennium Management LLC now owns 211,929 shares of the oil and natural gas company’s stock valued at $589,000 after buying an additional 82,601 shares during the period.

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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