Intersect Capital Lowers stake in ConocoPhillips (COP)

ConocoPhillips (COP) : Intersect Capital reduced its stake in ConocoPhillips by 4.32% during the most recent quarter end. The investment management company now holds a total of 26,740 shares of ConocoPhillips which is valued at $1,106,769 after selling 1,208 shares in ConocoPhillips , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.ConocoPhillips makes up approximately 0.65% of Intersect Capital’s portfolio.

Other Hedge Funds, Including , Beck Mack Oliver reduced its stake in COP by selling 49,555 shares or 8.42% in the most recent quarter. The Hedge Fund company now holds 538,857 shares of COP which is valued at $21,996,143. ConocoPhillips makes up approx 0.76% of Beck Mack Oliver’s portfolio.Seaward Management Limited Partnership boosted its stake in COP in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 78,934 shares of ConocoPhillips which is valued at $3,162,885. ConocoPhillips makes up approx 0.17% of Seaward Management Limited Partnership’s portfolio.Private Wealth Advisors reduced its stake in COP by selling 5,125 shares or 10.22% in the most recent quarter. The Hedge Fund company now holds 45,037 shares of COP which is valued at $1,835,708. ConocoPhillips makes up approx 0.87% of Private Wealth Advisors’s portfolio.

ConocoPhillips opened for trading at $42.69 and hit $43.25 on the upside on Wednesday, eventually ending the session at $43.2, with a gain of 0.79% or 0.34 points. The heightened volatility saw the trading volume jump to 88,57,666 shares. Company has a market cap of $53,503 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.

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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