Contango Oil & Gas (NASDAQ:MCF) Trading Down 6.8%

Contango Oil & Gas Company (NASDAQ:MCF)’s share price dropped 6.8% during mid-day trading on Monday . The company traded as low as $2.21 and last traded at $2.32, approximately 8,506 shares were traded during mid-day trading. A decline of 96% from the average daily volume of 198,778 shares. The stock had previously closed at $2.49.

Separately, Roth Capital raised Contango Oil & Gas from a “sell” rating to a “neutral” rating in a report on Tuesday, September 24th.

Contango Oil & Gas (NASDAQ:MCF) last posted its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.12). The company had revenue of $12.76 million for the quarter, compared to analysts’ expectations of $14.53 million.

Contango Oil & Gas Company Profile (NASDAQ: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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