Argyle Capital Management Lowers stake in ConocoPhillips (COP)

ConocoPhillips (COP) : Argyle Capital Management reduced its stake in ConocoPhillips by 0.3% during the most recent quarter end. The investment management company now holds a total of 56,434 shares of ConocoPhillips which is valued at $2,261,310 after selling 170 shares in ConocoPhillips , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.ConocoPhillips makes up approximately 0.94% of Argyle Capital Management’s portfolio.

Other Hedge Funds, Including , Strs Ohio boosted its stake in COP in the latest quarter, The investment management firm added 10,603 additional shares and now holds a total of 1,004,958 shares of ConocoPhillips which is valued at $40,268,667. ConocoPhillips makes up approx 0.17% of Strs Ohio’s portfolio.Highland Capital Management boosted its stake in COP in the latest quarter, The investment management firm added 51,679 additional shares and now holds a total of 162,375 shares of ConocoPhillips which is valued at $6,824,621. ConocoPhillips makes up approx 0.57% of Highland Capital Management’s portfolio.Independent Portfolio Consultants reduced its stake in COP by selling 1,385 shares or 44.0% in the most recent quarter. The Hedge Fund company now holds 1,763 shares of COP which is valued at $75,298. ConocoPhillips makes up approx 0.02% of Independent Portfolio Consultants’s portfolio.Regent Investment Management reduced its stake in COP by selling 150 shares or 0.68% in the most recent quarter. The Hedge Fund company now holds 21,988 shares of COP which is valued at $939,107. ConocoPhillips makes up approx 0.49% of Regent Investment Management’s portfolio.Eastern Bank boosted its stake in COP in the latest quarter, The investment management firm added 2,429 additional shares and now holds a total of 311,743 shares of ConocoPhillips which is valued at $13,314,544. ConocoPhillips makes up approx 1.04% of Eastern Bank’s portfolio.

ConocoPhillips opened for trading at $39.77 and hit $40.905 on the upside on Friday, eventually ending the session at $40.82, with a gain of 1.39% or 0.56 points. The heightened volatility saw the trading volume jump to 81,38,922 shares. Company has a market cap of $50,551 M.

On the company’s financial health, ConocoPhillips reported $-0.79 EPS for the quarter, missing the analyst consensus estimate by $ -0.18 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.61. The company had revenue of $5575.00 million for the quarter, compared to analysts expectations of $6734.50 million. The company’s revenue was down -35.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.07 EPS.

Many Wall Street Analysts have commented on ConocoPhillips. JP Morgan Upgraded ConocoPhillips on Jul 11, 2016 to ” Neutral”, Price Target of the shares are set at $44.Company shares were Reiterated by UBS on Apr 29, 2016 to “Neutral”, Firm has raised the Price Target to $ 48 from a previous price target of $40 .

ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for produces transports and markets crude oil bitumen natural gas liquefied natural gas (LNG) and natural gas liquids. The Company operates through six operating segments which are primarily defined by geographic region: Alaska Lower 48 Canada Europe Asia Pacific and Middle East and Other International. The Company’s continuing operations are producing in the United States Norway the United Kingdom Canada Australia Timor-Leste Indonesia China Malaysia Qatar Libya and Russia. The Company has major ownership interests in two of North America’s oil fields located on Alaska’s North Slope: Prudhoe Bay and Kuparuk.

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