Ameriprise Financial Inc. reduced its stake in Contango Oil & Gas (NYSEAMERICAN:MCF) by 46.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325,490 shares of the oil and natural gas company’s stock after selling 287,672 shares during the period. Ameriprise Financial Inc.’s holdings in Contango Oil & Gas were worth $1,638,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Contango Oil & Gas in the third quarter worth about $140,000. Alliancebernstein L.P. raised its stake in Contango Oil & Gas by 11.0% in the second 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 holdings in Contango Oil & Gas by 13.2% in the second quarter. Wells Fargo & Company MN now owns 38,445 shares of the oil and natural gas company’s stock worth $255,000 after purchasing an additional 4,497 shares during the period. Legal & General Group Plc grew its holdings in Contango Oil & Gas by 7.7% in the second quarter. Legal & General Group Plc now owns 40,270 shares of the oil and natural gas company’s stock worth $267,000 after purchasing an additional 2,868 shares during the period. Finally, Rhumbline Advisers grew its holdings in Contango Oil & Gas by 3.6% in the second quarter. Rhumbline Advisers now owns 45,558 shares of the oil and natural gas company’s stock worth $303,000 after purchasing an additional 1,600 shares during the period.

Shares of Contango Oil & Gas (NYSEAMERICAN:MCF) opened at $5.49 on Tuesday. The firm has a market cap of $138.77, a PE ratio of -4.69 and a beta of 1.82. Contango Oil & Gas has a fifty-two week low of $2.22 and a fifty-two week high of $10.15.

Contango Oil & Gas (NYSEAMERICAN:MCF) last announced its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported ($0.28) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.08). Contango Oil & Gas had a negative return on equity of 11.98% and a negative net margin of 36.73%. The business had revenue of $18.80 million during the quarter, compared to analysts’ expectations of $20.33 million. During the same quarter last year, the company posted ($0.55) EPS. Contango Oil & Gas’s revenue for the quarter was down 3.9% compared to the same quarter last year.

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

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Contango Oil & Gas Profile

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 (NYSEAMERICAN:MCF)

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