Zacks: Brokerages Anticipate Contango Oil & Gas Company (MCF) Will Post Quarterly Sales of $17.56 Million

Brokerages expect Contango Oil & Gas Company (NASDAQ:MCF) to post sales of $17.56 million for the current quarter, according to Zacks. Two analysts have issued estimates for Contango Oil & Gas’ earnings, with the highest sales estimate coming in at $17.80 million and the lowest estimate coming in at $17.31 million. Contango Oil & Gas reported sales of $20.44 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 14.1%. The firm is scheduled to announce its next quarterly earnings report on Friday, May 3rd.

On average, analysts expect that Contango Oil & Gas will report full-year sales of $66.17 million for the current year, with estimates ranging from $63.30 million to $69.03 million. For the next year, analysts expect that the firm will report sales of $69.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Contango Oil & Gas.

Separately, Roth Capital lowered Contango Oil & Gas from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 12th.

MCF stock traded up $0.03 during mid-day trading on Wednesday, reaching $3.25. The company had a trading volume of 32,300 shares, compared to its average volume of 116,253. Contango Oil & Gas has a fifty-two week low of $2.72 and a fifty-two week high of $7.32.

About Contango Oil & Gas

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, 2017, it had proved reserves of approximately 189.3 billion cubic feet equivalent, including 91.7 billion cubic feet of natural gas, 10.6 million barrels of crude oil and condensate, and 5.6 million barrels of natural gas liquids.

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