Cetera Investment Advisers Lowers stake in ConocoPhillips (COP)

ConocoPhillips (COP) : Cetera Investment Advisers reduced its stake in ConocoPhillips by 6.41% during the most recent quarter end. The investment management company now holds a total of 25,873 shares of ConocoPhillips which is valued at $1,070,366 after selling 1,773 shares in ConocoPhillips , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.ConocoPhillips makes up approximately 0.41% of Cetera Investment Advisers’s portfolio.

Other Hedge Funds, Including , Geneva Advisors reduced its stake in COP by selling 2,032 shares or 7.15% in the most recent quarter. The Hedge Fund company now holds 26,375 shares of COP which is valued at $1,091,661. ConocoPhillips makes up approx 0.02% of Geneva Advisors’s portfolio.Hyman Charles D reduced its stake in COP by selling 2,389 shares or 1.12% in the most recent quarter. The Hedge Fund company now holds 210,552 shares of COP which is valued at $8,548,411. ConocoPhillips makes up approx 1.27% of Hyman Charles D’s portfolio.Anchor Capital Advisors reduced its stake in COP by selling 383 shares or 0.31% in the most recent quarter. The Hedge Fund company now holds 122,479 shares of COP which is valued at $4,937,128. ConocoPhillips makes up approx 0.13% of Anchor Capital Advisors’s portfolio.Community Bank Trust Waco Texas reduced its stake in COP by selling 647 shares or 2.85% in the most recent quarter. The Hedge Fund company now holds 22,039 shares of COP which is valued at $883,103. ConocoPhillips makes up approx 0.47% of Community Bank Trust Waco Texas’s portfolio.

ConocoPhillips closed down -0.27 points or -0.62% at $43.32 with 61,90,137 shares getting traded on Friday. Post opening the session at $43.28, the shares hit an intraday low of $43.02 and an intraday high of $43.48 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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