Contango Oil & Gas (NYSEAMERICAN:MCF) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Contango Oil & Gas (NYSEAMERICAN:MCF)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.22 and traded as high as $3.37. Contango Oil & Gas shares last traded at $3.22, with a volume of 3,621,000 shares trading hands.

Contango Oil & Gas Price Performance

The company has a quick ratio of 0.44, a current ratio of 0.45 and a debt-to-equity ratio of 2.25. The firm has a market capitalization of $648.31 million, a PE ratio of -7.67 and a beta of 2.02. The firm’s fifty day simple moving average is $3.22 and its 200-day simple moving average is $3.22.

Institutional Trading of Contango Oil & Gas

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Contango Oil & Gas during the second quarter valued at $34,184,000. Raffles Associates LP purchased a new stake in shares of Contango Oil & Gas during the second quarter valued at $1,785,000. Quantbot Technologies LP bought a new stake in Contango Oil & Gas in the 2nd quarter worth about $454,000. Deutsche Bank AG purchased a new position in Contango Oil & Gas in the 2nd quarter worth about $412,000. Finally, The Manufacturers Life Insurance Company bought a new position in Contango Oil & Gas during the 2nd quarter valued at about $1,427,000. Institutional investors own 25.92% of the company’s stock.

Contango Oil & Gas Company Profile

Contango Oil & Gas Company is an independent energy firm headquartered in Houston, Texas, engaged in the acquisition, exploration, development and production of oil and natural gas properties. The company’s activities span the full upstream cycle, from lease acquisition and well planning through drilling, completion and production operations, enabling Contango to manage costs and operational quality at each stage of development.

Contango’s asset base is concentrated in the onshore Gulf Coast region of the United States, with principal operations in East Texas, West Texas and southern Louisiana.