| Weakness Seen in Contango (MCF) Estimates: Should You Stay Away? - Tale of the Tape | |
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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 #4 (Sell) further confirms weakness in MCF.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 1 estimate moving down in the past 30 days, compared with no upward revisions. This trend has caused the consensus estimate to trend lower, going from $1.85 a share a month ago to its current level of $1.68.
Also, for the current quarter, Contango has seen 1 downward estimate revision versus no revisions in the opposite direction, dragging the consensus estimate down to a loss of 4 cents a share from an earnings expectation of 13 cents over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 13.7% in the past month.
So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don’t have a long time horizon to wait.
If you are still interested in the energy sector, you may instead consider a better-ranked stock like Sunoco LP Common Units represen (SUN). The stock currently holds a Zacks Rank #1 (Strong Buy) and may be better selection at this time.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CONTANGO OIL&GS (MCF): Free Stock Analysis Report SUNOCO LP (SUN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Contango Oil & Gas Company
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CODE : MCF |
ISIN : US21075N2045 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Contango Oil & Gas is a oil exploration company based in United states of america. Contango Oil & Gas is listed in United States of America. Its market capitalisation is US$ 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. |