One stock that might be an intriguing choice for investors right now is Contango Oil & Gas Company MCF. This is because this security in the Oil & Gas – US Exploration & Production space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Oil & Gas – US Exploration & Production space as it currently has a Zacks Industry Rank of 62 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, Contango Oil & Gas is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
In fact, over the past month, current quarter estimates have narrowed down from a loss of 47 cents per share to a loss of 41 cents per share, while current year estimates have narrowed down from a loss of $1.99 per share to a loss of $1.78 per share. This has helped MCF to earn a Zacks Rank #2 (Buy), further underscoring the company’s solid position.
So, if you are looking for a decent pick in a strong industry, consider Contango Oil & Gas. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
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