Bank of America Corp DE increased its stake in shares of Contango Oil & Gas Company (NYSEMKT:MCF) by 81.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 52,889 shares of the oil and natural gas company’s stock after buying an additional 23,771 shares during the period. Bank of America Corp DE owned 0.21% of Contango Oil & Gas worth $387,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MCF. State of Tennessee Treasury Department boosted its stake in Contango Oil & Gas by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 21,021 shares of the oil and natural gas company’s stock valued at $154,000 after buying an additional 3,172 shares during the last quarter. Comerica Bank boosted its stake in Contango Oil & Gas by 2.6% in the first quarter. Comerica Bank now owns 24,677 shares of the oil and natural gas company’s stock valued at $185,000 after buying an additional 629 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Contango Oil & Gas by 13.4% in the first quarter. Wells Fargo & Company MN now owns 33,948 shares of the oil and natural gas company’s stock valued at $248,000 after buying an additional 4,000 shares during the last quarter. Oxford Asset Management bought a new stake in Contango Oil & Gas during the first quarter valued at about $263,000. Finally, Legal & General Group Plc boosted its stake in Contango Oil & Gas by 1.7% in the first quarter. Legal & General Group Plc now owns 37,402 shares of the oil and natural gas company’s stock valued at $273,000 after buying an additional 618 shares during the last quarter.

Shares of Contango Oil & Gas Company (NYSEMKT:MCF) traded down 2.20% during midday trading on Tuesday, reaching $4.45. 3,747 shares of the company traded hands. The stock has a 50 day moving average price of $5.65 and a 200 day moving average price of $6.74. Contango Oil & Gas Company has a 1-year low of $4.45 and a 1-year high of $11.98. The firm’s market capitalization is $113.96 million.

Contango Oil & Gas (NYSEMKT:MCF) last posted its earnings results on Wednesday, August 2nd. The oil and natural gas company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by $0.08. Contango Oil & Gas had a negative net margin of 29.76% and a negative return on equity of 10.24%. The company had revenue of $20.30 million during the quarter, compared to analyst estimates of $20.26 million. During the same quarter last year, the business posted ($0.90) EPS. Contango Oil & Gas’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts expect that Contango Oil & Gas Company will post ($0.86) earnings per share for the current fiscal year.

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Several equities research analysts recently weighed in on the stock. Roth Capital assumed coverage on shares of Contango Oil & Gas in a research report on Wednesday, July 12th. They issued a “buy” rating and a $10.00 price target on the stock. Zacks Investment Research cut shares of Contango Oil & Gas from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. National Securities cut shares of Contango Oil & Gas from a “buy” rating to a “neutral” rating in a research report on Monday, May 15th. Finally, Royal Bank Of Canada set a $8.00 price target on shares of Contango Oil & Gas and gave the stock a “buy” rating in a research report on Thursday, August 24th.

About Contango Oil & Gas

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.

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

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