| UPDATE: MLV & Co Reiterates On Contango Oil & Gas Company Following 3Q14 Shortfall | |
| | |
|
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 $37.99.
Latest Ratings for MCF
Date | Firm | Action | From | To |
---|
Nov 2014 | MLV & Co. | Maintains | | Buy | Nov 2014 | Global Hunter | Initiates Coverage on | | | Nov 2014 | SunTrust Robinson Humphrey | Initiates Coverage on | | Neutral |
View More Analyst Ratings for MCF
View the Latest Analyst Ratings
See more from Benzinga © 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
|
|
|
Contango Oil & Gas Company
|
|
|
CODE : MCF |
ISIN : US21075N2045 |
|
| |
ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Contango Oil & Gas est une société d’exploration minière de pétrole basée aux Etats-Unis D'Amerique. Contango Oil & Gas est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 82,0 millions US$ (72,7 millions €). La valeur de son action a atteint son plus haut niveau récent le 20 juin 2008 à 95,16 US$, et son plus bas niveau récent le 20 mars 2020 à 0,84 US$. Contango Oil & Gas possède 25 479 438 actions en circulation. |