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

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

According to Zacks, 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 anticipate that the business will report sales of $69.60 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Contango Oil & Gas.

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

Shares of MCF traded down $0.01 during mid-day trading on Wednesday, reaching $3.17. The company had a trading volume of 42,055 shares, compared to its average volume of 116,253. Contango Oil & Gas has a 52-week low of $2.72 and a 52-week high of $7.32.

Contango Oil & Gas Company Profile

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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