Revenue Update on Contango Oil & Gas Company(NYSEMKT:MCF)

Contango Oil & Gas Company(NYSEMKT:MCF) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $19.36M. Analysts estimated a revenue of $20.64M. Earnings per share were $-0.49. Analysts had estimated an EPS of $-0.36.

Contango Oil & Gas Company (MCF) made into the market gainers list on Fridays trading session with the shares advancing 1.23% or 0.12 points. Due to strong positive momentum, the stock ended at $9.85, which is also near the day’s high of $10. The stock began the session at $9.79 and the volume stood at 2,97,066 shares. The 52-week high of the shares is $14.14 and the 52 week low is $3.68. The company has a current market capitalization of $243 M and it has 2,46,35,692 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On May 25, 2016, Steven L Schoonover (director) sold 20,000 shares at $11.91 per share price.Also, On May 16, 2016, John Anthony Thomas (VP/Secretary/General Counsel) sold 1,164 shares at $12.86 per share price.On May 16, 2016, Sergio Castro (VP & Treasurer) sold 2,264 shares at $12.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Contango Oil & Gas Company (Contango) is an independent energy company. The Company is engaged in the acquisition exploration development exploitation and production of crude oil and natural gas properties offshore in the shallow waters of the Gulf of Mexico (GOM) and in the onshore Texas Gulf Coast and Rocky Mountain regions of the United States. As of December 31 2014 the Company’s proved reserves were approximately 275.2 billion cubic feet equivalent (Bcfe) consisting of 179.7 billion cubic feet of natural gas (Bcf) of natural gas 8.4 million barrels of crude oil or other liquid hydrocarbons (MMBbl) of crude oil and condensate and 7.5 MMBbl of natural gas liquids (NGLs). The Company’s onshore properties consist of Southeast Texas (Woodbine) South Texas (Buda/Eagle Ford) South Texas (Elm Hill Project) Natrona County Wyoming (FRAMS Project) Weston County Wyoming (N. Cheyenne Project) and others including East Texas Colorado and Tuscaloosa Marine Shale (TMS).

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