Proxima Capital Management LLC Takes $1.43 Million Position in Contango Oil & Gas Company (MCF)

Proxima Capital Management LLC purchased a new stake in shares of Contango Oil & Gas Company (NYSEMKT:MCF) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 215,000 shares of the oil and natural gas company’s stock, valued at approximately $1,428,000. Contango Oil & Gas accounts for about 0.8% of Proxima Capital Management LLC’s portfolio, making the stock its 29th biggest holding. Proxima Capital Management LLC owned about 0.84% of Contango Oil & Gas at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MCF. Teachers Advisors LLC lifted its stake in shares of Contango Oil & Gas by 44.7% during the fourth quarter. Teachers Advisors LLC now owns 51,738 shares of the oil and natural gas company’s stock valued at $483,000 after acquiring an additional 15,994 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Contango Oil & Gas by 13.4% during the first quarter. Wells Fargo & Company MN now owns 33,948 shares of the oil and natural gas company’s stock valued at $248,000 after acquiring an additional 4,000 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Contango Oil & Gas by 2.0% during 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 acquiring an additional 6,139 shares during the period. Comerica Bank lifted its stake in shares of Contango Oil & Gas by 2.6% during the first quarter. Comerica Bank now owns 24,677 shares of the oil and natural gas company’s stock valued at $185,000 after acquiring an additional 629 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Contango Oil & Gas by 2.1% during the first quarter. Sei Investments Co. now owns 51,587 shares of the oil and natural gas company’s stock valued at $378,000 after acquiring an additional 1,042 shares during the period.

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Contango Oil & Gas Company (MCF) traded up 0.85% during midday trading on Friday, reaching $4.73. The company had a trading volume of 21,504 shares. The stock has a 50-day moving average price of $4.61 and a 200 day moving average price of $6.08. The company’s market capitalization is $121.13 million. Contango Oil & Gas Company has a 12-month low of $3.97 and a 12-month high of $11.05.

Contango Oil & Gas (NYSEMKT:MCF) last announced its earnings results on Wednesday, August 2nd. The oil and natural gas company reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.08). The company had revenue of $20.30 million for the quarter, compared to analyst estimates of $20.26 million. Contango Oil & Gas had a negative return on equity of 10.24% and a negative net margin of 29.76%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.90) earnings per share. Equities analysts forecast that Contango Oil & Gas Company will post ($0.88) EPS for the current year.

A number of equities research analysts recently commented on MCF shares. ValuEngine downgraded Contango Oil & Gas from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Royal Bank Of Canada set a $8.00 price objective on Contango Oil & Gas and gave the company a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research downgraded Contango Oil & Gas from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Roth Capital started coverage on Contango Oil & Gas in a report on Wednesday, July 12th. They issued a “buy” rating and a $10.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Contango Oil & Gas presently has an average rating of “Hold” and a consensus target price of $10.67.

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.

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

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