Zacks
0
All posts from Zacks
Zacks in Our Research. Your Success.,

Why Contango Oil & Gas (MCF) Could Be Positioned for a Surge

Contango Oil & Gas Company MCF is an independent oil and natural gas company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on MCF’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Contango Oil & Gas could be a solid choice for investors.

Current Quarter Estimates for MCF

In the past 30 days, 2 estimates have gone higher for Contango Oil & Gas while none has gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 83 cents a share 30 days ago, to a loss of 64 cents a share today, a move of 22.9%.

Current Year Estimates for MCF

Meanwhile, Contango Oil & Gas’ current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to 1 lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $2.67 per share 30 days ago to a loss of $1.94 per share today, an increase of 27.3%.

Bottom Line

The stock has also started to move higher lately, adding 60.7% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
CONTANGO OIL&GS (MCF): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research