Contango Oil & Gas (NYSEAMERICAN:MCF) Sees Unusually-High Trading Volume

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Contango Oil & Gas (NYSEAMERICAN:MCF) shares saw strong trading volume on Friday . 2,861,900 shares changed hands during trading, an increase of 2,306% from the previous session’s volume of 118,940 shares.The stock last traded at $1.35 and had previously closed at $1.00.

Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Contango Oil & Gas from a “sell” rating to a “hold” rating in a research report on Saturday, September 7th. Roth Capital lowered Contango Oil & Gas from a “neutral” rating to a “sell” rating and set a $2.00 target price for the company. in a research report on Thursday, July 11th.

Contango Oil & Gas (NYSEAMERICAN:MCF) last released its quarterly earnings data on Thursday, August 8th. The oil and natural gas company reported ($0.12) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.12). The business had revenue of $12.76 million for the quarter, compared to the consensus estimate of $14.53 million.

Large investors have recently added to or reduced their stakes in the company. FMR LLC lifted its stake in Contango Oil & Gas by 0.3% in the 1st quarter. FMR LLC now owns 3,594,539 shares of the oil and natural gas company’s stock valued at $11,323,000 after acquiring an additional 11,499 shares in the last quarter. King Luther Capital Management Corp lifted its stake in Contango Oil & Gas by 8.5% in the 1st quarter. King Luther Capital Management Corp now owns 1,329,000 shares of the oil and natural gas company’s stock valued at $4,186,000 after acquiring an additional 104,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in Contango Oil & Gas by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,204,105 shares of the oil and natural gas company’s stock valued at $2,095,000 after acquiring an additional 24,457 shares in the last quarter. Finally, MorganRosel Wealth Management LLC lifted its stake in Contango Oil & Gas by 43.0% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 54,849 shares of the oil and natural gas company’s stock valued at $95,000 after acquiring an additional 16,500 shares in the last quarter.

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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