Goldman Sachs Group Inc. cut its stake in Contango Oil & Gas Company (NYSEMKT:MCF) by 15.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,413 shares of the oil and natural gas company’s stock after selling 14,870 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.31% of Contango Oil & Gas worth $521,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Texas Permanent School Fund raised its position in shares of Contango Oil & Gas by 2.1% in the second quarter. Texas Permanent School Fund now owns 16,803 shares of the oil and natural gas company’s stock valued at $112,000 after purchasing an additional 341 shares during the period. Hartford Investment Management Co. bought a new position in shares of Contango Oil & Gas in the second quarter valued at about $120,000. Alliancebernstein L.P. raised its position in shares of Contango Oil & Gas by 11.0% in the second quarter. Alliancebernstein L.P. now owns 24,244 shares of the oil and natural gas company’s stock valued at $161,000 after purchasing an additional 2,400 shares during the period. Wells Fargo & Company MN raised its position in shares of 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 purchasing an additional 4,000 shares during the period. Finally, Legal & General Group Plc increased its position in Contango Oil & Gas by 1.7% during the first quarter. Legal & General Group Plc now owns 37,402 shares of the oil and natural gas company’s stock worth $273,000 after acquiring an additional 618 shares during the period.

ILLEGAL ACTIVITY WARNING: This news story was posted by Watch List News and is the property of of Watch List News. If you are accessing this news story on another website, it was stolen and republished in violation of U.S. & international copyright laws. The correct version of this news story can be read at https://www.watchlistnews.com/contango-oil-gas-company-mcf-shares-sold-by-goldman-sachs-group-inc/1699530.html.

A number of research firms recently commented on MCF. Roth Capital reaffirmed a “buy” rating and set a $10.00 price target on shares of Contango Oil & Gas in a research report on Monday, October 2nd. Zacks Investment Research lowered shares of Contango Oil & Gas from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. 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. Finally, ValuEngine lowered shares of Contango Oil & Gas from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $9.00.

Contango Oil & Gas Company (NYSEMKT:MCF) opened at $3.51 on Monday. Contango Oil & Gas Company has a 1 year low of $3.11 and a 1 year high of $10.39.

Contango Oil & Gas (NYSEMKT:MCF) last released its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). Contango Oil & Gas had a negative return on equity of 10.24% and a negative net margin of 29.76%. The business had revenue of $18.80 million for the quarter, compared to the consensus estimate of $20.33 million. During the same period in the prior year, the business posted ($0.55) earnings per share. Contango Oil & Gas’s revenue was down 3.9% compared to the same quarter last year.

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.

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

Receive News & Ratings for Contango Oil & Gas Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Contango Oil & Gas Company and related companies with Analyst Ratings Network's FREE daily email newsletter.