Zacks Investment Research upgraded shares of Contango Oil & Gas (NYSEAMERICAN:MCF) from a sell rating to a hold rating in a report issued on Saturday, Zacks.com reports.

According to Zacks, “Contango Oil & Gas Company is a Houston, Texas based, independent energy company engaged in the acquisition, exploration, development, exploitation and production of crude oil and natural gas offshore in the shallow waters of the Gulf of Mexico and in the onshore Texas and Rocky Mountain regions of the United States. “

Separately, Roth Capital lowered shares of Contango Oil & Gas from a neutral rating to a sell rating and set a $2.00 target price for the company. in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $5.00.

MCF opened at $1.05 on Friday. Contango Oil & Gas has a 12-month low of $1.03 and a 12-month high of $7.32.

Several large investors have recently bought and sold shares of MCF. Two Sigma Advisers LP purchased a new position in shares of Contango Oil & Gas during the 4th quarter valued at approximately $68,000. Squarepoint Ops LLC increased its holdings in shares of Contango Oil & Gas by 159.9% during the 4th quarter. Squarepoint Ops LLC now owns 26,771 shares of the oil and natural gas company’s stock valued at $87,000 after purchasing an additional 16,471 shares in the last quarter. MorganRosel Wealth Management LLC increased its holdings in shares of Contango Oil & Gas by 43.0% during 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 purchasing an additional 16,500 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Contango Oil & Gas by 181.3% during the 4th quarter. Bank of New York Mellon Corp now owns 46,084 shares of the oil and natural gas company’s stock valued at $150,000 after purchasing an additional 29,699 shares in the last quarter. Finally, Avalon Advisors LLC purchased a new position in shares of Contango Oil & Gas during the 1st quarter valued at approximately $394,000.

Contango Oil & Gas Company Profile

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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