RBC Capital analyst Scott Hanold reiterated a Buy rating on Contango Oil & Gas Company (NYSE: MCF) yesterday and set a price target of $7. The company’s shares opened today at $6.07.
According to TipRanks.com, Hanold is a 1-star analyst with an average return of -0.9% and a 44.4% success rate. Hanold covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Sanchez Energy Corporation, and Continental Resources.
Currently, the analyst consensus on Contango Oil & Gas Company is a Moderate Buy with an average price target of $6.28.
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Based on Contango Oil & Gas Company’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $7.18 million. In comparison, last year the company had a GAAP net loss of $6.03 million.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MCF in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Contango Oil & Gas Co. is an independent oil and natural gas company, which engages in the exploration, development, production and acquisition of crude oil and natural gas properties. It operates offshore in the shallow waters of the Gulf of Mexico and in the onshore Texas Gulf Coast and Rocky Mountain region of the United States.
