California Public Employees Retirement System reduced its holdings in Contango Oil & Gas Company (NYSEMKT:MCF) by 7.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 207,152 shares of the oil and natural gas company’s stock after selling 16,400 shares during the period. California Public Employees Retirement System owned approximately 0.82% of Contango Oil & Gas worth $1,375,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Texas Permanent School Fund grew its stake in shares of Contango Oil & Gas by 2.1% in 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 buying an additional 341 shares in the last quarter. Hartford Investment Management Co. purchased a new position in shares of Contango Oil & Gas in the 2nd quarter worth $120,000. Alliancebernstein L.P. grew its stake in shares of Contango Oil & Gas by 11.0% in the 2nd quarter. Alliancebernstein L.P. now owns 24,244 shares of the oil and natural gas company’s stock worth $161,000 after buying an additional 2,400 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Contango Oil & Gas by 13.4% in the 1st quarter. Wells Fargo & Company MN now owns 33,948 shares of the oil and natural gas company’s stock worth $248,000 after buying an additional 4,000 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Contango Oil & Gas by 7.7% in the 2nd quarter. Legal & General Group Plc now owns 40,270 shares of the oil and natural gas company’s stock worth $267,000 after buying an additional 2,868 shares in the last quarter.

A number of equities analysts recently commented on MCF shares. Zacks Investment Research cut shares of Contango Oil & Gas from a “hold” rating to a “sell” rating in a research note 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 note on Thursday, August 24th. ValuEngine cut shares of Contango Oil & Gas from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Finally, Roth Capital reaffirmed a “buy” rating and set a $10.00 price target 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 issued a hold rating and two have issued a buy rating to the company. Contango Oil & Gas currently has an average rating of “Hold” and an average target price of $9.00.

Contango Oil & Gas Company (NYSEMKT MCF) opened at $4.45 on Wednesday. Contango Oil & Gas Company has a 52 week low of $3.57 and a 52 week 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 ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). Contango Oil & Gas had a negative return on equity of 10.24% and a negative net margin of 29.76%. The firm had revenue of $18.80 million for the quarter, compared to analysts’ expectations of $20.33 million. During the same period in the prior year, the firm posted ($0.55) earnings per share. Contango Oil & Gas’s revenue for the quarter was down 3.9% on a year-over-year basis.

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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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