| UPDATE: MLV & Co Reiterates On Contango Oil & Gas Company Following 3Q14 Shortfall | |
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In a report published Wednesday, MLV & Co analyst Chad Mabry reiterated a Buy rating on Contango Oil & Gas Company (NYSE: MCF), but lowered the price target from $57.00 to $49.00.
In the report, MLV & Co noted, “Less-than-stellar quarterly update from MCF highlighted by a miss on earnings, lower-than-expected production guidance, and a lack of positive operational datapoints. Looking into 2015, a declining growth profile could dampen investor enthusiasm for the stock. Our NAV-based price target declines to $49 (from $57) on a lower production forecast. However, we remain buyers on a strong balance sheet and compelling valuation, noting that we value shares at ~$41 on a proved-only basis. Upcoming well results from the company's new areas (expected Q1'15) could cause investors to be more willing to pay for upside.”
Contango Oil & Gas Company closed on Tuesday at $37.99.
Latest Ratings for MCF
Date | Firm | Action | From | To |
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Nov 2014 | MLV & Co. | Maintains | | Buy | Nov 2014 | Global Hunter | Initiates Coverage on | | | Nov 2014 | SunTrust Robinson Humphrey | Initiates Coverage on | | Neutral |
View More Analyst Ratings for MCF
View the Latest Analyst Ratings
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Contango Oil & Gas Company
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CODE : MCF |
ISIN : US21075N2045 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Contango Oil & Gas is a oil exploration company based in United states of america. Contango Oil & Gas is listed in United States of America. Its market capitalisation is US$ 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. |