Contango Oil & Gas (NYSEAMERICAN:MCF) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Contango Oil & Gas (NYSEAMERICAN:MCF) shares passed 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 changing hands.

Contango Oil & Gas Trading Up 3.5%

The company has a debt-to-equity ratio of 2.25, a current ratio of 0.45 and a quick ratio of 0.44. The company has a market capitalization of $648.31 million, a price-to-earnings ratio of -7.67 and a beta of 2.02. The business has a fifty day moving average price of $3.22 and a 200 day moving average price of $3.22.

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.