Contango Oil & Gas (NYSEAMERICAN:MCF) was the recipient of a significant increase in short interest in the month of April. As of April 13th, there was short interest totalling 1,406,655 shares, an increase of 15.9% from the March 30th total of 1,213,270 shares. Currently, 5.8% of the company’s shares are sold short. Based on an average daily volume of 243,977 shares, the days-to-cover ratio is presently 5.8 days.
A number of analysts have recently weighed in on MCF shares. Zacks Investment Research raised Contango Oil & Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, April 11th. Ladenburg Thalmann lowered Contango Oil & Gas from a “buy” rating to a “neutral” rating and set a $4.00 price objective for the company. in a research note on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Contango Oil & Gas currently has an average rating of “Hold” and a consensus price target of $6.67.
A number of hedge funds have recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan lifted its stake in Contango Oil & Gas by 51.5% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 99,650 shares of the oil and natural gas company’s stock worth $470,000 after acquiring an additional 33,870 shares during the period. Macquarie Group Ltd. purchased a new stake in Contango Oil & Gas in the fourth quarter worth $102,000. Two Sigma Investments LP purchased a new stake in Contango Oil & Gas in the fourth quarter worth $150,000. Deutsche Bank AG lifted its stake in Contango Oil & Gas by 3,009.2% in the fourth quarter. Deutsche Bank AG now owns 878,026 shares of the oil and natural gas company’s stock worth $4,133,000 after acquiring an additional 849,786 shares during the period. Finally, Thrivent Financial For Lutherans lifted its stake in Contango Oil & Gas by 54.2% in the fourth quarter. Thrivent Financial For Lutherans now owns 202,835 shares of the oil and natural gas company’s stock worth $955,000 after acquiring an additional 71,325 shares during the period.
Contango Oil & Gas (NYSEAMERICAN:MCF) last released its quarterly earnings data on Friday, March 9th. The oil and natural gas company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.05). The company had revenue of $20.02 million for the quarter, compared to analysts’ expectations of $19.38 million. Contango Oil & Gas had a negative net margin of 36.73% and a negative return on equity of 11.98%.
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About Contango Oil & Gas
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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