Contango Oil & Gas (NYSEAMERICAN:MCF) Shares Sold by Cornerstone Capital Management Holdings LLC.

Cornerstone Capital Management Holdings LLC. lowered its stake in shares of Contango Oil & Gas (NYSEAMERICAN:MCF) by 28.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,976 shares of the oil and natural gas company’s stock after selling 26,900 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned approximately 0.26% of Contango Oil & Gas worth $336,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Messner & Smith Theme Value Investment Management Ltd. CA boosted its position in Contango Oil & Gas by 193.9% during the 3rd quarter. Messner & Smith Theme Value Investment Management Ltd. CA now owns 306,548 shares of the oil and natural gas company’s stock worth $1,694,000 after acquiring an additional 202,243 shares during the period. Dimensional Fund Advisors LP boosted its position in Contango Oil & Gas by 13.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,353,117 shares of the oil and natural gas company’s stock worth $8,985,000 after acquiring an additional 158,686 shares during the period. American Century Companies Inc. boosted its position in Contango Oil & Gas by 7.2% during the 2nd quarter. American Century Companies Inc. now owns 1,071,200 shares of the oil and natural gas company’s stock worth $7,113,000 after acquiring an additional 72,025 shares during the period. Texas Permanent School Fund boosted its position in Contango Oil & Gas by 2.1% during the 2nd quarter. Texas Permanent School Fund now owns 16,803 shares of the oil and natural gas company’s stock worth $112,000 after acquiring an additional 341 shares during the period. Finally, AXA boosted its position in Contango Oil & Gas by 50.1% during the 2nd quarter. AXA now owns 102,700 shares of the oil and natural gas company’s stock worth $682,000 after acquiring an additional 34,300 shares during the period.

A number of research firms have recently commented on MCF. Royal Bank of Canada reissued a “buy” rating and issued a $6.00 price objective on shares of Contango Oil & Gas in a research note on Monday, November 13th. Zacks Investment Research downgraded Contango Oil & Gas from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Seaport Global Securities raised Contango Oil & Gas from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 19th. Finally, Roth Capital reissued a “buy” rating and issued a $10.00 price objective on shares of Contango Oil & Gas in a research note on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $8.00.

Shares of Contango Oil & Gas (NYSEAMERICAN:MCF) traded up $0.02 during trading on Friday, hitting $5.62. The stock had a trading volume of 508,848 shares, compared to its average volume of 632,885. The firm has a market capitalization of $142.34, a price-to-earnings ratio of -4.80 and a beta of 1.82. Contango Oil & Gas has a 12 month low of $2.22 and a 12 month high of $10.15.

Contango Oil & Gas (NYSEAMERICAN:MCF) last announced its earnings results on Tuesday, November 7th. The oil and natural gas company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The company had revenue of $18.80 million for the quarter, compared to analyst estimates of $20.33 million. Contango Oil & Gas had a negative return on equity of 11.98% and a negative net margin of 36.73%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period last year, the firm earned ($0.55) earnings per share.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another site, it was illegally copied and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this piece can be viewed at https://www.dispatchtribunal.com/2018/01/19/contango-oil-gas-mcf-shares-sold-by-cornerstone-capital-management-holdings-llc-3.html.

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 (NYSEAMERICAN:MCF)

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

Leave a Reply