| Falling Earnings Estimates Signal Weakness Ahead for Contango Oil & Gas (MCF) - Tale of the Tape | |
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Similar to wise buying decisions, exiting certain underperformers at the right time helps maximize portfolio returns. Selling off losers can be difficult, but if both the share price and estimates are falling, it could be time to get rid of the security before more losses hit your portfolio. One such stock that you may want to consider dropping is Contango Oil & Gas Company (MCF), which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #5 (Strong Sell) further confirms weakness in MCF. A key reason for this move has been the negative trend in earnings estimate revisions. The consensus estimate has gone lower, going from a loss of $2.68 a share a month ago to its current level of a loss of $3.05. Also, for the current quarter, Contango Oil & Gas’s consensus estimate has gone down to a loss of 80 cents a share from a loss of 68 cents over the past 30 days. The stock also has seen some pretty dismal trading lately, as the share price has dropped 11.6% in the past month. So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don’t have a long time horizon to wait. If you are still interested in the Oil–US Export and Production, you may instead consider a better-ranked stock - Cheniere Energy, Inc. (LNG). The stock currently holds a Zacks Rank #1 (Strong Buy) and may be better selection at this time. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
CONTANGO OIL&GS (MCF): Free Stock Analysis Report
CHENIERE ENERGY (LNG): Free Stock Analysis Report
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Contango Oil & Gas Company
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CODE : MCF |
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ISIN : US21075N2045 |
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Contango Oil & Gas is a oil exploration company based in United states of america. Contango Oil & Gas is listed in United States of America. Its market capitalisation is US$ 82.0 millions as of today (€ 72.7 millions). Its stock quote reached its highest recent level on June 20, 2008 at US$ 95.16, and its lowest recent point on March 20, 2020 at US$ 0.84. Contango Oil & Gas has 25 479 438 shares outstanding. |