Contango Oil & Gas (NYSEAMERICAN:MCF) Shares Up 3.5% – What’s Next?

Contango Oil & Gas (NYSEAMERICAN:MCF)’s stock price rose 3.5% on Tuesday. The stock traded as high as $3.37 and last traded at $3.22. 3,621,000 shares changed hands during trading, an increase of 192% from the average daily volume of 1,240,194 shares. The stock had previously closed at $3.11.

Contango Oil & Gas Stock Up 3.5%

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

About Contango Oil & Gas

Contango Oil & Gas Company was an independent exploration and production company focused on acquiring, developing and producing oil and natural gas. Its products included crude oil, natural gas and natural gas liquids. Based in Houston, Contango operated properties in several U.S. regions, including the Gulf of Mexico and onshore areas along the Gulf Coast and in the Rocky Mountains. Its asset base and operating focus changed over time as the company made acquisitions and divestitures. In 2021, Contango combined with Independence Energy to form Crescent Energy Company.