Cannell Capital LLC raised its stake in shares of Contango Oil & Gas (NYSEAMERICAN:MCF) by 34.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,186,495 shares of the oil and natural gas company’s stock after buying an additional 558,910 shares during the period. Contango Oil & Gas makes up 1.5% of Cannell Capital LLC’s portfolio, making the stock its 28th biggest position. Cannell Capital LLC’s holdings in Contango Oil & Gas were worth $9,446,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new position in Contango Oil & Gas during the 1st quarter valued at about $27,000. Sargent Investment Group LLC acquired a new position in Contango Oil & Gas during the 2nd quarter valued at about $43,000. Nisa Investment Advisors LLC acquired a new position in Contango Oil & Gas during the 2nd quarter valued at about $45,000. Yorktown Energy Partners VI LP acquired a new position in Contango Oil & Gas during the 1st quarter valued at about $48,000. Finally, Virtu Financial LLC acquired a new position in Contango Oil & Gas during the 1st quarter valued at about $51,000. 25.92% of the stock is currently owned by hedge funds and other institutional investors.
NYSEAMERICAN MCF traded down $0.05 during trading on Wednesday, reaching $4.39. The company’s stock had a trading volume of 8,850 shares, compared to its average volume of 1,226,060. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $881.02 million, a PE ratio of -11.28 and a beta of 2.40. Contango Oil & Gas has a 1-year low of $1.19 and a 1-year high of $6.94.
Several equities analysts have recently issued reports on the stock. Stephens cut shares of Contango Oil & Gas from an “overweight” rating to an “equal weight” rating in a research note on Monday, July 26th. TheStreet cut shares of Contango Oil & Gas from a “c+” rating to a “d” rating in a report on Wednesday, October 20th.
About Contango Oil & Gas
Contango Oil & Gas Co is an oil and natural gas company. The firm engages in the exploration, development, production and acquisition of crude oil and natural gas properties. Its operation focuses in Permian Basin, South Texas, Southeast Texas East Texas, Wyoming, and Gulf of Mexico. The company was founded by Kenneth R.
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