Quick Win By The Algorithm: Contango Stock Price Is Up 87.10% Over The Past One-Month Time Frame

Quick Win By The Algorithm

Contango Oil & Gas Company is an independent oil and natural gas company. It acquires, explores, develops, exploits, and produces crude oil and natural gas properties in the offshore shallow waters of the Gulf of Mexico, and in the onshore Texas and Wyoming in the United States. As of December 31, 2016, it had proved reserves of approximately 151.8 billion cubic feet equivalent, including 105.1 billion cubic feet of natural gas, 3.4 million barrels of crude oil and condensate, and 4.4 million barrels of natural gas liquids. The company was founded in 1986 and is based in Houston, Texas.

On November 7th, 2017, Contango released its third quarter financial results of 2017 for the three and nine months ended September 30, 2017.

Contango’s net loss for the Q3 was reduced by almost 50%, from $12.5 million on 2016 to $6.9 million on 2017. Its net loss per basic and diluted share improved from $0.55 in 2016 to $0.28 in 2017. This was a result of lower operating expenses due to cost reduction efforts, lower depreciation, depletion, and amortization expense, and lower general and administrative expenses.

Contango’s stock price is up 87.10% over the past one-month time frame. The company attributes two causes to the unusually high volume of trading in its shares experienced on November 29th, 2017. First, Contango believes it is a result of a liquidated position of a significant shareholder due to it being the last investment in an old fund. Secondly, program trading as a result of Contango dropping out the S&P SmallCap 600 Index due to market capitalization requirements.

The energy sector outlook for 2018 is very bright.

On December 13th, 2017, I Know First issued a bullish 14-days forecast for Contango Oil & Gas Company (NYSE: MCF). The forecast showed a signal of 20.99 and a predictability of 0.34. In accordance with the forecast, MCF’s stock returned 40.61% over this period, solidifying another quick win by the I Know First algorithm.

Current I Know First subscribers received this bullish MCF forecast on December 13th, 2017


Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.