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TheStreet Wire

Contango Oil & Gas Reaches New 52-Week High (MCF)

By TheStreet Wire 07/20/11 - 11:13 AM EDT

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NEW YORK (TheStreet) -- Contango Oil & Gas Company (AMEX:MCF) hit a new 52-week high Wednesday as it is currently trading at $65.20, above its previous 52-week high of $65 with 14,233 shares traded as of 10:46 a.m. ET. Average volume has been 109,200 shares over the past 30 days.

Contango Oil & Gas has a market cap of $989.4 million and is part of the basic materials sector and energy industry. Shares are up 9% year to date as of the close of trading on Tuesday.

Contango Oil & Gas Company, an independent natural gas and oil company, explores, develops, produces, and acquires natural gas and oil properties primarily offshore in the Gulf of Mexico. The company was founded in 1986 and is based in Houston, Texas. The company has a P/E ratio of 16.3, above the average energy industry P/E ratio of 15.9 and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Contango Oil & Gas as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, compelling growth in net income and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Contango Oil & Gas Ratings Report.

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