120,716 Shares in Contango Oil & Gas (MCF) Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC purchased a new position in shares of Contango Oil & Gas (NYSEAMERICAN:MCF) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 120,716 shares of the oil and natural gas company’s stock, valued at approximately $746,000.

Other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Contango Oil & Gas by 2,077.6% during the 1st quarter. JPMorgan Chase & Co. now owns 199,161 shares of the oil and natural gas company’s stock worth $708,000 after buying an additional 190,015 shares in the last quarter. FMR LLC raised its holdings in shares of Contango Oil & Gas by 33.5% during the 2nd quarter. FMR LLC now owns 3,583,039 shares of the oil and natural gas company’s stock worth $20,352,000 after buying an additional 899,900 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Contango Oil & Gas by 106.8% in the 2nd quarter. Acadian Asset Management LLC now owns 289,082 shares of the oil and natural gas company’s stock worth $1,642,000 after purchasing an additional 149,313 shares in the last quarter. Laurion Capital Management LP acquired a new position in Contango Oil & Gas in the 2nd quarter worth about $119,000. Finally, PEAK6 Investments L.P. acquired a new position in Contango Oil & Gas in the 2nd quarter worth about $180,000.

A number of brokerages have issued reports on MCF. Royal Bank of Canada reaffirmed a “buy” rating and issued a $6.00 target price on shares of Contango Oil & Gas in a report on Friday, July 13th. Zacks Investment Research cut Contango Oil & Gas from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. SunTrust Banks reaffirmed a “hold” rating and issued a $5.00 target price on shares of Contango Oil & Gas in a report on Wednesday. Johnson Rice cut Contango Oil & Gas from an “accumulate” rating to a “hold” rating and set a $5.00 target price for the company. in a report on Thursday, August 9th. Finally, Seaport Global Securities cut Contango Oil & Gas from a “buy” rating to a “neutral” rating and set a $7.00 target price for the company. in a report on Friday, September 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $5.60.

Shares of MCF opened at $5.21 on Friday. Contango Oil & Gas has a 12-month low of $2.22 and a 12-month high of $7.32.

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

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About Contango Oil & Gas

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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