Contango Oil & Gas (MCF) Position Reduced by California Public Employees Retirement System

California Public Employees Retirement System lessened its position in Contango Oil & Gas (NYSEAMERICAN:MCF) by 20.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 149,829 shares of the oil and natural gas company’s stock after selling 37,360 shares during the quarter. California Public Employees Retirement System owned about 0.58% of Contango Oil & Gas worth $851,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Laurion Capital Management LP bought a new position in Contango Oil & Gas in the 2nd quarter worth $119,000. PEAK6 Investments L.P. acquired a new stake in Contango Oil & Gas in the 2nd quarter worth $180,000. Alambic Investment Management L.P. acquired a new stake in Contango Oil & Gas in the 2nd quarter worth $228,000. LMR Partners LLP acquired a new stake in Contango Oil & Gas in the 2nd quarter worth $424,000. Finally, Wells Fargo & Company MN grew its position in Contango Oil & Gas by 225.3% in the 1st quarter. Wells Fargo & Company MN now owns 108,301 shares of the oil and natural gas company’s stock worth $385,000 after purchasing an additional 75,006 shares during the last quarter.

Shares of NYSEAMERICAN MCF opened at $5.21 on Friday. Contango Oil & Gas has a 1-year low of $2.22 and a 1-year high of $7.32.

Contango Oil & Gas (NYSEAMERICAN:MCF) last announced its earnings results on Thursday, August 9th. The oil and natural gas company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.01). The business had revenue of $18.45 million for the quarter, compared to the consensus estimate of $17.42 million.

Several analysts have issued reports on MCF shares. Zacks Investment Research lowered shares of Contango Oil & Gas from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. Seaport Global Securities lowered shares of Contango Oil & Gas from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a research report on Friday, September 7th. Royal Bank of Canada set a $7.00 price target on shares of Contango Oil & Gas and gave the stock a “buy” rating in a research report on Thursday, September 20th. Johnson Rice lowered shares of Contango Oil & Gas from an “accumulate” rating to a “hold” rating and set a $5.00 target price on the stock. in a research report on Thursday, August 9th. Finally, SunTrust Banks reiterated a “hold” rating and set a $5.00 target price on shares of Contango Oil & Gas in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Contango Oil & Gas currently has an average rating of “Hold” and an average target price of $5.60.

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Contango Oil & Gas Profile

Contango Oil & Gas Company, an independent oil and natural gas company, acquires, explores, develops, exploits, and produces crude oil and natural gas properties in the shallow waters of the Gulf of Mexico and onshore properties in Texas and Wyoming in the United States. As of December 31, 2017, it had proved reserves of approximately 189.3 billion cubic feet equivalent, including 91.7 billion cubic feet of natural gas, 10.6 million barrels of crude oil and condensate, and 5.6 million barrels of natural gas liquids.

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

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