Contango Oil & Gas Company (MCF) shares are trading at lower $1.58 and the avg recommendation for the stock is Hold.
To add more color to this target, the company’s high over the last year is $4.79 and the low is $0.84. Over the last 52 weeks, MCF is down -41.48% while the S&P 500 is up 12.53%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, MCF reported a profit of $0.7 million. Contango Oil & Gas Company also saw revenues increase to $17.84 million. In addition, MCF has free cash flow of -$11.58 million as of 06-2020. The company’s EBITDA came in at -$14.99 million which compares well with its peers.
MCF Return on Equity (ROE) is -392.40%, and its Return on Assets is -105.10%. All told, it is clear that, MCF needs to be on your watchlist.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. MCF has a short ratio of 21.10 and outstanding shares of 131.45M.
MCF has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.36 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -2.50. Contango Oil & Gas Company MCF also noted assets of $195.53 million at the end of the last quarter. Investors should also keep an eye on sector updates as MCF has historically followed its peers on positive news.
All told, Contango Oil & Gas Company MCF has strung together solid data and demonstrated underlying fundamentals. At its current valuation, MCF represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Contango Oil & Gas Company MCF is now commanding a market cap of 193.01M and a float of 96.02M. MCF is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of MCF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in MCF, either long or short, and we have not been compensated for this article.