Contango Oil & Gas Company (MCF) Rating Reiterated by Royal Bank of Canada

Contango Oil & Gas Company (NYSEMKT:MCF)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a research note issued to investors on Friday. They presently have a $13.00 price objective on the stock, down from their previous price objective of $14.00. Royal Bank of Canada’s target price would indicate a potential upside of 88.13% from the stock’s previous close.

Separately, Zacks Investment Research raised Contango Oil & Gas Company from a “sell” rating to a “hold” rating in a research note on Wednesday, December 14th.

Shares of Contango Oil & Gas Company (NYSEMKT:MCF) opened at 6.91 on Friday. The firm’s market capitalization is $174.56 million. Contango Oil & Gas Company has a 12 month low of $5.62 and a 12 month high of $14.14. The company has a 50 day moving average of $7.65 and a 200-day moving average of $8.95.

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Hedge funds have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its stake in Contango Oil & Gas Company by 7.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,140 shares of the company’s stock valued at $113,000 after buying an additional 880 shares during the period. Ranger Investment Management L.P. boosted its stake in Contango Oil & Gas Company by 4.4% in the fourth quarter. Ranger Investment Management L.P. now owns 86,490 shares of the company’s stock valued at $808,000 after buying an additional 3,657 shares during the period. AQR Capital Management LLC boosted its stake in Contango Oil & Gas Company by 18.9% in the fourth quarter. AQR Capital Management LLC now owns 487,052 shares of the company’s stock valued at $4,549,000 after buying an additional 77,405 shares during the period. New York State Teachers Retirement System boosted its stake in Contango Oil & Gas Company by 1.0% in the fourth quarter. New York State Teachers Retirement System now owns 57,899 shares of the company’s stock valued at $541,000 after buying an additional 600 shares during the period. Finally, FMR LLC boosted its stake in Contango Oil & Gas Company by 0.9% in the fourth quarter. FMR LLC now owns 2,698,380 shares of the company’s stock valued at $25,203,000 after buying an additional 23,380 shares during the period.

Contango Oil & Gas Company Company Profile

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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