About Contango Oil & Gas Company
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. The Company's properties are located in Gulf of Mexico; Madison and Grimes counties, Texas; Zavala and Dimmit counties, Texas; Weston County, Wyoming; Texas Gulf Coast, and Sublette County, Wyoming. In addition, the Company has operated properties producing from various conventional formations in various counties along the Texas Gulf Coast; operated producing properties in the Denver Julesburg Basin (DJ Basin) in Weld and Adams counties in Colorado, and operated producing properties in the Haynesville Shale, Mid Bossier and James Lime formations in East Texas.
Industry, Sector and Symbol:
- Sector: Oils/Energy
- Industry: Oil Gas & Consumable Fuels
- Sub-Industry: Oil & Gas Exploration & Production
- Exchange: NYSEMKT
- Symbol: MCF
- CUSIP: 21075N20
Companies Related to Contango Oil & Gas Company:
- Previous Close: $8.14
- 50 Day Moving Average: $8.43
- 200 Day Moving Average: $9.32
- 52-Week Range: $5.03 - $14.14
- Trailing P/E Ratio: N/A
- Foreward P/E Ratio: -15.96
- P/E Growth: 0.00
- Market Cap: $205.63M
- Outstanding Shares: 25,262,000
- Beta: 1.6
What is Contango Oil & Gas Company's stock symbol?
Contango Oil & Gas Company trades on the New York Stock Exchange (NYSE)MKT under the ticker symbol "MCF."
Where is Contango Oil & Gas Company's stock going? Where will Contango Oil & Gas Company's stock price be in 2017?
3 brokerages have issued 12-month price targets for Contango Oil & Gas Company's stock. Their predictions range from $6.00 to $14.00. On average, they anticipate Contango Oil & Gas Company's share price to reach $10.33 in the next year.
When will Contango Oil & Gas Company announce their earnings?
Contango Oil & Gas Company is scheduled to release their next quarterly earnings announcement on Monday, March, 13th 2017.
What are analysts saying about Contango Oil & Gas Company stock?
Here are some recent quotes from research analysts about Contango Oil & Gas Company stock:
According to Zacks Investment Research, "Contango Oil & Gas is a Houston-based, independent natural gas and oil company. The Company explores, develops, produces and acquires natural gas and oil properties primarily onshore in the Gulf Coast and offshore in the Gulf of Mexico. " (2/9/2017)
National Securities analysts commented, "Contango had what we would consider a tough 3rd quarter on the production front, as the company saw volumes decline. Specifically, Contango produced 65.7 million cubic feet equivalent per day (Mmcfe/d), versus our projection of 70.1 Mmcfe/d. We note that this represents a 28% annual decline along with a 12% decrease from the prior quarter. We attribute the decline however to the shut-down of a third party processing plant (20 days), as well as a "hurricane preparedness" driven build-up of inventories by Contango’s purchaser. Absent those 2 issues, (which we deem outside of Contango’s control), the company would have finished the quarter at 68 Mmcfe/d (still below our projection, but within company guidance). In terms of pricing, Contango surpassed our expectations, earned realized prices of $3.24 per Mcfe in 3Q16, 7% lower than the year prior, but 13% higher on a sequential basis.
Expect Contango’s conservative approach to continue, as they gradually move into the Permian basin. In our estimation, one of Contango’s biggest strengths has been its penchant to spend within cash flows as well as maintain a solid balance sheet. We see no indications of this changing, as the company reiterated a conservative approach given current oil and gas prices. Still, in terms of catalysts, we look squarely to the company’s development of its recently purchased acreage in the Southern Delaware Basin. We note that the company’s first well was spud on October 15, targeting the Wolfcamp A bench. Given success, we expect Contango to run a 1 rig program in the region during 2017.
We maintain our BUY rating, but reduce our target to $14 per share, on lower production volumes. We base our target on the average of our sum of the parts, Net Asset Value (NAV) calculation, our "flowing Mcfe" valuation (i.e. daily production), and projected EBITDA. We make additional adjustments to account for net debt, working capital, and undeveloped acreage, to arrive at our $14 price target.
Who owns Contango Oil & Gas Company stock?
Contango Oil & Gas Company's stock is owned by a number of of institutional and retail investors. Top institutional investors include FMR LLC (10.68%), Dimensional Fund Advisors LP (4.78%), AQR Capital Management LLC (1.93%), State Street Corp (1.77%), Cortina Asset Management LLC (1.51%) and GRT Capital Partners L.L.C. (0.69%). Company insiders that own Contango Oil & Gas Company stock include Allan D Keel, E Joseph Grady, Ellis L Mccain, Jay S Mengle, John Anthony Thomas, Sergio Castro, Steven L Schoonover and Thomas H Atkins.
Who sold Contango Oil & Gas Company stock? Who is selling Contango Oil & Gas Company stock?
Contango Oil & Gas Company's stock was sold by a variety of institutional investors in the last quarter, including Dimensional Fund Advisors LP, GRT Capital Partners L.L.C., GSA Capital Partners LLP, Two Sigma Investments LP, Martingale Asset Management L P, Renaissance Technologies LLC and Cortina Asset Management LLC. Company insiders that have sold Contango Oil & Gas Company stock in the last year include Jay S Mengle, John Anthony Thomas, Sergio Castro and Steven L Schoonover.
Who bought Contango Oil & Gas Company stock? Who is buying Contango Oil & Gas Company stock?
Contango Oil & Gas Company's stock was acquired by a variety of institutional investors in the last quarter, including AQR Capital Management LLC, Radnor Capital Management LLC, State Street Corp, FMR LLC, Ranger Investment Management L.P., Comerica Bank, Thrivent Financial for Lutherans and New York State Teachers Retirement System.
How do I buy Contango Oil & Gas Company stock?
Shares of Contango Oil & Gas Company can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
How much does a share of Contango Oil & Gas Company stock cost?
One share of Contango Oil & Gas Company stock can currently be purchased for approximately $8.14.