Contango Oil & Gas Company (AMEX:MCF) price closed higher on Monday, September 13, jumping 6.67% above its previous close.
A look at the daily price movement shows that the last close reads $3.60, with intraday deals fluctuated between $3.67 and $3.93. The company’s 5Y monthly beta was ticking 2.42. Taking into account the 52-week price action we note that the stock hit a 52-week high of $6.94 and 52-week low of $1.09. The stock added 6.96% on its value in the past month.
Contango Oil & Gas Company, which has a market valuation of $748.92 million, is expected to release its quarterly earnings report Jun 22, 2021 – Jul 02, 2021. Analysts tracking MCF have forecast the quarterly EPS to grow by 0.07 per share this quarter, while the same analysts predict the annual EPS to hit $0.45 for the year 2021 and up to $0.54 for 2022.
On average, analysts have forecast the company’s revenue for the quarter will hit $81.7 million, with the likely lows of $81.7 million and highs of $81.7 million. Staying with the analyst view, there is a consensus estimate of $627.1 million for the company’s annual revenue in 2021.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give MCF a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a Hold, while an average of long term indicators are currently assigning the stock as Hold.
Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 1 analysts have assigned MCF a recommendation rating as follows: 1 rate it as a Hold; 0 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the Contango Oil & Gas Company (MCF) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Hold, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.
The overview shows that MCF’s price is at present 9.70% off the SMA20 and 3.18% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 58.35, with weekly volatility standing at 4.81%. The indicator jumps to 5.20% when calculated based on the past 30 days. Contango Oil & Gas Company (AMEX:MCF)’s beta value is holding at 2.41, while the average true range (ATR) indicator is currently reading 0.20. Considering analysts have assigned the stock a price target range of $5.00-$5.00 as the low and high respectively, we find the trailing 12-month average consensus price target to be $5.00. Based on this estimate, we see that current price is roughly -30.21% off the estimated low and -30.21% off the forecast high. Investors will no doubt be excited to see the share price fall to $5.00, which is the median consensus price, and at that level MCF would be -30.21% from current price.
Turning out attention to how the Contango Oil & Gas Company stock has performed in comparison to its peers in the industry, here’s what we find: MCF’s stock is 6.67% on the day and 161.22% in the past 12 months, while Callon Petroleum Company (CPE) traded 7.02% in the last session and was positioned 601.98% up on its price 12 months ago. Another comparison is with EOG Resources Inc. (EOG) whose stock price was up 4.39% in the last trading session, and has flourished 81.77% over the past year. Also, Pioneer Natural Resources Company (PXD) showed up trend of 2.51% while its price kept floating at 68.21% over the past year. Elsewhere in the market, the S&P 500 Index has rallied 0.23% in last trading session, with the Dow Jones Industrial also saw a positive session on the day with 0.76%.
An analysis of the Contango Oil & Gas Company (AMEX:MCF) stock in terms of its daily trading volume indicates that the 3-month average is 1.21 million. However, this figure increases on the past 10-day timeline to an average of 0.59 million.
Current records show that the company has 198.72M in outstanding shares. The insiders’ percentage holdings are 26.72% of outstanding shares while the percentage share held by institutions stands at 25.96%. The stats also highlight that short interest as of Aug 12, 2021, stood at 13.54 million shares, which puts the short ratio at the time at 12.81. From this we can glean that short interest is 6.73% of company’s current outstanding shares. Notably, we see that shares short in August rose slightly given the previous month’s figure stood at 12.97 million. But the 67.69% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.