Athena Global Investors Lowers stake in ConocoPhillips (COP)

ConocoPhillips (COP) : Athena Global Investors reduced its stake in ConocoPhillips by 38.55% during the most recent quarter end. The investment management company now holds a total of 50,214 shares of ConocoPhillips which is valued at $2,078,357 after selling 31,505 shares in ConocoPhillips , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.ConocoPhillips makes up approximately 3.11% of Athena Global Investors’s portfolio.

Other Hedge Funds, Including , Gerstein Fisher added COP to its portfolio by purchasing 5,755 company shares during the most recent quarter which is valued at $238,199. ConocoPhillips makes up approx 0.03% of Gerstein Fisher’s portfolio. Blume Capital Management sold out all of its stake in COP during the most recent quarter. The investment firm sold 200 shares of COP which is valued $8,120.Private Capital Management Inc reduced its stake in COP by selling 3,450 shares or 19.6% in the most recent quarter. The Hedge Fund company now holds 14,150 shares of COP which is valued at $574,490. ConocoPhillips makes up approx 0.54% of Private Capital Management Inc’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. Vigilant Capital Management added COP to its portfolio by purchasing 367 company shares during the most recent quarter which is valued at $15,425.

ConocoPhillips opened for trading at $41.66 and hit $42.24 on the upside on Monday, eventually ending the session at $42.18, with a gain of 1.96% or 0.81 points. The heightened volatility saw the trading volume jump to 58,96,176 shares. Company has a market cap of $52,240 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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