Comerica Bank trimmed its stake in Contango Oil & Gas Company (NYSEMKT:MCF) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,707 shares of the oil and natural gas company’s stock after selling 970 shares during the quarter. Comerica Bank owned approximately 0.09% of Contango Oil & Gas worth $133,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in Contango Oil & Gas by 7.7% during the second quarter. Legal & General Group Plc now owns 40,270 shares of the oil and natural gas company’s stock worth $267,000 after acquiring an additional 2,868 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Contango Oil & Gas by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 314,375 shares of the oil and natural gas company’s stock worth $2,087,000 after acquiring an additional 2,639 shares during the period. Rhumbline Advisers grew its stake in Contango Oil & Gas by 3.6% in the 2nd quarter. Rhumbline Advisers now owns 45,558 shares of the oil and natural gas company’s stock worth $303,000 after acquiring an additional 1,600 shares during the period. Sei Investments Co. grew its stake in Contango Oil & Gas by 8.1% in the 2nd quarter. Sei Investments Co. now owns 55,745 shares of the oil and natural gas company’s stock worth $370,000 after acquiring an additional 4,158 shares during the period. Finally, Texas Permanent School Fund grew its stake in Contango Oil & Gas by 2.1% in the 2nd quarter. Texas Permanent School Fund now owns 16,803 shares of the oil and natural gas company’s stock worth $112,000 after acquiring an additional 341 shares during the period.

Shares of Contango Oil & Gas Company (NYSEMKT MCF) opened at 5.03 on Monday. Contango Oil & Gas Company has a 12-month low of $3.97 and a 12-month high of $11.98. The stock’s 50 day moving average price is $4.78 and its 200-day moving average price is $6.29. The firm’s market capitalization is $128.81 million.

Contango Oil & Gas (NYSEMKT:MCF) last issued its earnings results on Wednesday, August 2nd. The oil and natural gas company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). The business had revenue of $20.30 million during the quarter, compared to analyst estimates of $20.26 million. Contango Oil & Gas had a negative net margin of 29.76% and a negative return on equity of 10.24%. Contango Oil & Gas’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.90) EPS. On average, equities analysts expect that Contango Oil & Gas Company will post ($0.88) EPS for the current year.

Several research firms have commented on MCF. Royal Bank Of Canada set a $8.00 price target on Contango Oil & Gas and gave the company a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research lowered shares of Contango Oil & Gas from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. ValuEngine lowered shares of Contango Oil & Gas from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Finally, Roth Capital began coverage on shares of Contango Oil & Gas in a research report on Wednesday, July 12th. They issued a “buy” rating and a $10.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $9.69.

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Contango Oil & Gas 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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Institutional Ownership by Quarter for Contango Oil & Gas (NYSEMKT:MCF)

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