Short Interest in Contango Oil & Gas (NYSEAMERICAN:MCF) Increases By 58.9%

Contango Oil & Gas (NYSEAMERICAN:MCF) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 273,298 shares, a growth of 58.9% from the November 30th total of 172,045 shares. Based on an average daily volume of 1,279,212 shares, the days-to-cover ratio is currently 0.2 days. Approximately 1.1% of the company’s stock are short sold.

Contango Oil & Gas (MCF) traded up $0.01 during midday trading on Thursday, hitting $5.33. 399,500 shares of the stock were exchanged, compared to its average volume of 647,329. The firm has a market cap of $138.77, a PE ratio of -4.56 and a beta of 1.82. Contango Oil & Gas has a one year low of $2.22 and a one year high of $10.15.

Contango Oil & Gas (NYSEAMERICAN:MCF) last released its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $18.80 million for the quarter, compared to the consensus estimate of $20.33 million. During the same period in the prior year, the business posted ($0.55) earnings per share. Contango Oil & Gas’s revenue was down 3.9% compared to the same quarter last year.

MCF has been the subject of a number of recent analyst reports. Roth Capital reiterated a “buy” rating and issued a $10.00 price target on shares of Contango Oil & Gas in a research note on Monday, October 2nd. Royal Bank of Canada reiterated a “buy” rating and issued a $6.00 price target on shares of Contango Oil & Gas in a research note on Monday, November 13th. Zacks Investment Research upgraded shares of Contango Oil & Gas from a “sell” rating to a “hold” rating in a research note on Thursday, September 14th. Finally, Seaport Global Securities upgraded shares of Contango Oil & Gas from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 19th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $8.00.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased 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. Geode Capital Management LLC increased its holdings in Contango Oil & Gas by 3.6% in the 1st quarter. Geode Capital Management LLC now owns 175,613 shares of the oil and natural gas company’s stock valued at $1,285,000 after buying an additional 6,136 shares during the period. Bank of America Corp DE increased its holdings in Contango Oil & Gas by 81.6% in the 1st quarter. Bank of America Corp DE now owns 52,889 shares of the oil and natural gas company’s stock valued at $387,000 after buying an additional 23,771 shares during the period. Texas Permanent School Fund increased its holdings in Contango Oil & Gas by 2.1% in the 2nd quarter. Texas Permanent School Fund now owns 16,803 shares of the oil and natural gas company’s stock valued at $112,000 after buying an additional 341 shares during the period. Finally, Sei Investments Co. increased its holdings in Contango Oil & Gas by 8.1% in the 2nd quarter. Sei Investments Co. now owns 55,745 shares of the oil and natural gas company’s stock valued at $370,000 after buying an additional 4,158 shares during the period.

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About Contango Oil & Gas

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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