Contango: 2Q Earnings Snapshot
HOUSTON (AP) _ Contango Oil & Gas Co. (MCF) on Thursday reported a loss of $7.2 million in its second quarter.
The Houston-based company said it had a loss of 29 cents per share. Losses, adjusted for non-recurring costs, came to 19 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.
The oil and gas company posted revenue of $18.4 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $17.4 million.
Contango shares have climbed nearly 8 percent since the beginning of the year. The stock has fallen slightly more than 9 percent in the last 12 months.