Wells Fargo & Company MN boosted its position in shares of Contango Oil & Gas Company (NYSEMKT:MCF) by 13.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,948 shares of the oil and natural gas company’s stock after buying an additional 4,000 shares during the period. Wells Fargo & Company MN owned about 0.13% of Contango Oil & Gas worth $248,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of MCF. AQR Capital Management LLC increased its stake in Contango Oil & Gas by 18.9% in the fourth quarter. AQR Capital Management LLC now owns 487,052 shares of the oil and natural gas company’s stock valued at $4,549,000 after buying an additional 77,405 shares during the period. State Street Corp increased its stake in Contango Oil & Gas by 8.5% in the fourth quarter. State Street Corp now owns 447,584 shares of the oil and natural gas company’s stock valued at $4,183,000 after buying an additional 35,228 shares during the period. Highbridge Capital Management LLC bought a new stake in Contango Oil & Gas during the fourth quarter valued at about $232,000. FMR LLC increased its stake in Contango Oil & Gas by 0.9% in the fourth quarter. FMR LLC now owns 2,698,380 shares of the oil and natural gas company’s stock valued at $25,203,000 after buying an additional 23,380 shares during the period. Finally, Teachers Advisors LLC increased its stake in Contango Oil & Gas by 44.7% in the fourth quarter. Teachers Advisors LLC now owns 51,738 shares of the oil and natural gas company’s stock valued at $483,000 after buying an additional 15,994 shares during the period.
Shares of Contango Oil & Gas Company (MCF) traded down 6.90% during trading on Monday, hitting $5.53. The stock had a trading volume of 87,601 shares. The stock’s market capitalization is $139.60 million. Contango Oil & Gas Company has a 12-month low of $5.50 and a 12-month high of $11.98. The stock’s 50-day moving average is $6.37 and its 200-day moving average is $7.12.
Contango Oil & Gas (NYSEMKT:MCF) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.16) by $0.08. Contango Oil & Gas had a net margin of 4.56% and a return on equity of 1.49%. The firm had revenue of $20.30 million for the quarter, compared to analyst estimates of $20.26 million. During the same quarter in the prior year, the firm earned ($0.90) earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. Analysts predict that Contango Oil & Gas Company will post ($0.76) EPS for the current fiscal year.
MCF has been the subject of several recent analyst reports. Royal Bank Of Canada set a $13.00 price target on Contango Oil & Gas and gave the stock a “buy” rating in a research note on Thursday, April 20th. Roth Capital initiated coverage on Contango Oil & Gas in a research note on Wednesday, July 12th. They set a “buy” rating and a $10.00 target price for the company. Zacks Investment Research upgraded Contango Oil & Gas from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, National Securities downgraded Contango Oil & Gas from a “buy” rating to a “neutral” rating in a research note on Monday, May 15th.
Contango Oil & Gas Company Profile
Contango Oil & Gas Company (Contango) is an independent oil and natural gas company. The Company is engaged in the exploration, development, exploitation and acquisition of crude oil and natural gas 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.
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