What just happened? Contango Oil & Gas Company (NYSE:MCF) stock value has climbed by nearly 3.6% or (0.08 points) to $2.3 from its previous close of $2.22. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 150686 contracts so far this session. MCF shares had a relatively better volume day versus average trading capacity of 371.99 thousand shares, but with a 59.24 million float and a -26% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MCF stock indicates that the average analyst price target is $1.98 per share. This means the stock has a potential decrease of -13.91% from where the MCF share price has been trading recently which is between $2.2 and $2.5. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $1.45. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $4.
During the recent trading session for Contango Oil & Gas Company (NYSE:MCF), the company witnessed their stock drop by $-0.47 over a week and surge $1.21 from the price 20 days ago. When compared to their established 52-week high of $7.3, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/10/18. The recent low of $0.85 stood for a -68.57% since 09/13/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.81 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for MCF is set at $2.5, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for Contango Oil & Gas Company, the two-week RSI stands at 57.81. This figure suggests that MCF stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current MCF readings is similarly very revealing as it has a stochastic reading of 42.65% at this stage. This figure means that MCF share price today is being neutral.
Technical chart claims that Contango Oil & Gas Company (MCF) would settle between $2.41/share to $2.61/share level. However, if the stock price goes below the $2.11 mark, then the market for Contango Oil & Gas Company becomes much weaker. If that happens, the stock price might even plunge as low as $2.01 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.24. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Seaport Global Securities lowered their recommendation on shares of MCF from Buy to Neutral in their opinion released on September 07. Johnson Rice analysts have lowered their rating of Contango Oil & Gas Company (NYSE:MCF) stock from Accumulate to Hold in a separate flash note issued to investors on August 09. Analysts at Ladenburg Thalmann lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to February 09.
MCF equity has an average rating of 2.38, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 0 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 0 analysts rated Contango Oil & Gas Company (NYSE:MCF) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, MCF stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 10.6. Contango Oil & Gas Company current P/B ratio of 1.5 means it is trading at a premium against its industry’s 1.1.