Contango CEO Is Bulking Up
It's important to keep an eye on what company insiders are buying, and if we take a look at Contango Oil & Gas (MCF), we see president and acting CEO John Juneau picked up about 46,000 shares of the company between Sept. 27 and Oct. 1. This has upped Juneau's holdings significantly, to 55,000 shares, at general purchase prices of between $49 and $50. (The largest lot was at an average price of $49.66.)
Contango is an oil-and-gas exploration-and-production company, with natural gas constituting most of its production and reserves. It operates primarily in the Gulf of Mexico, with some onshore acreage. The company has market capitalization of about $750 million, but average daily share volume over the last three months has been about 80,000, and its current stock price has been about $49. That share price is toward the bottom of its 52-week range, as the stock has dropped 14% over the past year....591 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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