Contango Oil & Gas Company (MCF) Reaches $6.29 After 5.00% Up Move; Patrick Industries (PATK) Shorts Increased By 21.49%

June 6, 2017 - By Clifton Ray

Patrick Industries (NASDAQ:PATK) had an increase of 21.49% in short interest. PATK’s SI was 746,300 shares in June as released by FINRA. Its up 21.49% from 614,300 shares previously. With 147,500 avg volume, 5 days are for Patrick Industries (NASDAQ:PATK)’s short sellers to cover PATK’s short positions. The SI to Patrick Industries’s float is 5.38%. About 90,155 shares traded. Patrick Industries, Inc. (NASDAQ:PATK) has risen 37.12% since June 6, 2016 and is uptrending. It has outperformed by 20.42% the S&P500.

The stock of Contango Oil & Gas Company (NYSEMKT:MCF) is a huge mover today! About 52,816 shares traded. Contango Oil & Gas Company (NYSEMKT:MCF) has declined 40.53% since June 6, 2016 and is downtrending. It has underperformed by 57.23% the S&P500.The move comes after 5 months positive chart setup for the $158.19 million company. It was reported on Jun, 6 by Barchart.com. We have $6.60 PT which if reached, will make NYSEMKT:MCF worth $7.91M more.

Contango Oil & Gas Company is an independent oil and natural gas company. The company has market cap of $158.19 million. The Firm is engaged in the exploration, development, exploitation and acquisition of natural gas and crude oil properties in the onshore Texas Gulf Coast, offshore properties in the shallow waters of the Gulf of Mexico (GOM) and Rocky Mountain regions of the United States. It currently has negative earnings. The Company’s properties are located in Gulf of Mexico; Madison and Grimes counties, Texas; Zavala and Dimmit counties, Texas; Weston County, Wyoming; Texas Gulf Coast, and Sublette County, Wyoming.

Among 5 analysts covering Contango Oil & Gas Company (NYSEMKT:MCF), 3 have Buy rating, 0 Sell and 2 Hold. Therefore 60% are positive. Contango Oil & Gas Company has $21.0 highest and $7 lowest target. $11.05’s average target is 75.68% above currents $6.29 stock price. Contango Oil & Gas Company had 7 analyst reports since July 21, 2015 according to SRatingsIntel. RBC Capital Markets maintained the shares of MCF in report on Monday, August 10 with “Outperform” rating. MLV maintained it with “Buy” rating and $15.0 target in Wednesday, August 12 report. RBC Capital Markets maintained it with “Outperform” rating and $13 target in Friday, March 17 report. The rating was maintained by RBC Capital Markets on Thursday, November 5 with “Outperform”. As per Tuesday, February 23, the company rating was initiated by Ladenburg Thalmann.

Investors sentiment decreased to 1.11 in Q4 2016. Its down 2.33, from 3.44 in 2016Q3. It fall, as 14 investors sold Contango Oil & Gas Company shares while 33 reduced holdings. 10 funds opened positions while 42 raised stakes. 21.03 million shares or 49.34% less from 41.52 million shares in 2016Q3 were reported. 29,118 are held by State Bank Of America Corp De. 967,394 are held by American Century. California Pub Employees Retirement System invested in 0% or 224,852 shares. Great West Life Assurance Can reported 26,662 shares stake. State Of Tennessee Treasury Department holds 17,849 shares. Manufacturers Life Ins The holds 16,261 shares or 0% of its portfolio. Smith Asset Mngmt Group Incorporated Ltd Partnership owns 11,340 shares. Pacific Alternative Asset Mngmt Ltd Liability Corporation reported 336,225 shares. Alliancebernstein L P reported 22,744 shares or 0% of all its holdings. Highbridge Cap Lc reported 24,851 shares or 0% of all its holdings. 19,261 are owned by Citadel Advisors Llc. Messner And Smith Theme Value Ca owns 1.54% invested in Contango Oil & Gas Company (NYSEMKT:MCF) for 100,879 shares. Qs Investors Llc, a New York-based fund reported 26,341 shares. Thrivent For Lutherans accumulated 12,140 shares. Moreover, Blackrock Inc has 0% invested in Contango Oil & Gas Company (NYSEMKT:MCF) for 5,263 shares.

Patrick Industries, Inc. is a manufacturer of component products and distributor of building products and materials for the recreational vehicle and manufactured housing (MH) industrial markets for clients throughout the United States and Canada. The company has market cap of $1.24 billion. In addition, it is a supplier to certain other industrial markets, such as kitchen cabinet, office and household furniture, fixtures and commercial furnishings, marine, and other industrial markets. It has a 18.62 P/E ratio. The Company’s divisions include Manufacturing and Distribution.

Among 2 analysts covering Patrick Industries (NASDAQ:PATK), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Patrick Industries had 3 analyst reports since March 31, 2016 according to SRatingsIntel. The rating was downgraded by CL King to “Neutral” on Thursday, March 31. The firm has “Buy” rating by Sidoti given on Thursday, June 16. On Wednesday, August 17 the stock rating was upgraded by CL King to “Buy”.

Since December 8, 2016, it had 2 insider buys, and 11 selling transactions for $4.96 million activity. Cleveland Todd M had sold 14,383 shares worth $1.06 million on Wednesday, December 14. On Tuesday, January 17 the insider GENDELL JEFFREY L ET AL sold $323,482. $332,500 worth of Patrick Industries, Inc. (NASDAQ:PATK) shares were bought by WELCH M SCOTT. WELLS WALTER E had sold 3,000 shares worth $236,991. Shares for $56,005 were sold by Rodino Jeff on Wednesday, February 22. On Monday, December 12 Kitson Michael A sold $127,536 worth of Patrick Industries, Inc. (NASDAQ:PATK) or 1,723 shares.