Contango Oil & Gas Company (MCF) Shares Bought by Legal & General Group Plc

Legal & General Group Plc increased its stake in Contango Oil & Gas Company (NYSEMKT:MCF) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,402 shares of the oil and natural gas company’s stock after buying an additional 618 shares during the period. Legal & General Group Plc’s holdings in Contango Oil & Gas were worth $273,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. raised its position in Contango Oil & Gas by 3.3% in the first quarter. American Century Companies Inc. now owns 999,175 shares of the oil and natural gas company’s stock valued at $7,314,000 after buying an additional 31,781 shares during the last quarter. Ameriprise Financial Inc. raised its position in Contango Oil & Gas by 8.2% in the first quarter. Ameriprise Financial Inc. now owns 708,542 shares of the oil and natural gas company’s stock valued at $5,188,000 after buying an additional 53,472 shares during the last quarter. State Street Corp raised its position 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 last quarter. Bank of New York Mellon Corp raised its position in Contango Oil & Gas by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 311,736 shares of the oil and natural gas company’s stock valued at $2,282,000 after buying an additional 6,139 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Contango Oil & Gas by 3.6% in the first quarter. Principal Financial Group Inc. now owns 172,809 shares of the oil and natural gas company’s stock valued at $1,265,000 after buying an additional 6,075 shares during the last quarter.

Contango Oil & Gas Company (NYSEMKT:MCF) opened at 5.64 on Thursday. The company has a 50-day moving average of $6.18 and a 200-day moving average of $7.03. The stock’s market capitalization is $144.43 million. Contango Oil & Gas Company has a one year low of $5.00 and a one year high of $11.98.

Contango Oil & Gas (NYSEMKT:MCF) last posted its earnings results on Wednesday, August 2nd. The oil and natural gas company reported ($0.24) EPS for the quarter, missing the Zacks’ 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 analysts’ expectations of $20.26 million. During the same period in the previous year, the company earned ($0.90) EPS. The company’s revenue was up 4.6% on a year-over-year basis. On average, equities analysts forecast that Contango Oil & Gas Company will post ($0.80) EPS for the current fiscal year.

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Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada set a $11.00 target price on shares of Contango Oil & Gas and gave the company a “buy” rating in a report on Saturday, June 17th. National Securities lowered shares of Contango Oil & Gas from a “buy” rating to a “neutral” rating in a report on Monday, May 15th. Zacks Investment Research lowered shares of Contango Oil & Gas from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Roth Capital assumed coverage on shares of Contango Oil & Gas in a report on Wednesday, July 12th. They set a “buy” rating and a $10.00 target price for the company.

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.

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

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