Contango Oil & Gas (NYSEAMERICAN:MCF – Get Free Report)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.22 and traded as high as $3.37. Contango Oil & Gas shares last traded at $3.22, with a volume of 3,621,000 shares traded.
Contango Oil & Gas Stock Up 3.5%
The company has a debt-to-equity ratio of 2.25, a current ratio of 0.45 and a quick ratio of 0.44. The firm has a 50-day simple moving average of $3.22 and a two-hundred day simple moving average of $3.22. The company has a market cap of $648.31 million, a PE ratio of -7.67 and a beta of 2.02.
Institutional Investors Weigh In On Contango Oil & Gas
A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Contango Oil & Gas in the 2nd quarter valued at $34,184,000. Bank of America Corp DE purchased a new stake in shares of Contango Oil & Gas in the second quarter valued at $2,083,000. Raffles Associates LP acquired a new position in Contango Oil & Gas in the second quarter valued at $1,785,000. The Manufacturers Life Insurance Company acquired a new position in Contango Oil & Gas in the second quarter valued at $1,427,000. Finally, Bank of New York Mellon Corp purchased a new position in Contango Oil & Gas during the second quarter worth about $1,133,000. 25.92% of the stock is currently owned by hedge funds and other institutional investors.
About Contango Oil & Gas
Contango Oil & Gas Company is an independent energy firm headquartered in Houston, Texas, engaged in the acquisition, exploration, development and production of oil and natural gas properties. The company’s activities span the full upstream cycle, from lease acquisition and well planning through drilling, completion and production operations, enabling Contango to manage costs and operational quality at each stage of development.
Contango’s asset base is concentrated in the onshore Gulf Coast region of the United States, with principal operations in East Texas, West Texas and southern Louisiana.
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