Cornerstone Investment Partners Lowers stake in ConocoPhillips (COP)

ConocoPhillips (COP) : Cornerstone Investment Partners reduced its stake in ConocoPhillips by 27.12% during the most recent quarter end. The investment management company now holds a total of 22,941 shares of ConocoPhillips which is valued at $966,963 after selling 8,536 shares in ConocoPhillips , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.ConocoPhillips makes up approximately 0.04% of Cornerstone Investment Partners’s portfolio.

Other Hedge Funds, Including , Daiwa Sb Investments Ltd. reduced its stake in COP by selling 3,900 shares or 1.78% in the most recent quarter. The Hedge Fund company now holds 214,940 shares of COP which is valued at $9,313,350. ConocoPhillips makes up approx 2.44% of Daiwa Sb Investments Ltd.’s portfolio.Creative Planning boosted its stake in COP in the latest quarter, The investment management firm added 14,176 additional shares and now holds a total of 184,633 shares of ConocoPhillips which is valued at $8,000,148. ConocoPhillips makes up approx 0.05% of Creative Planning’s portfolio.British Columbia Investment Management Corp reduced its stake in COP by selling 73,064 shares or 9.68% in the most recent quarter. The Hedge Fund company now holds 682,007 shares of COP which is valued at $29,551,363. ConocoPhillips makes up approx 0.30% of British Columbia Investment Management Corp’s portfolio.Stokes Hubbell Capital Management reduced its stake in COP by selling 45 shares or 0.44% in the most recent quarter. The Hedge Fund company now holds 10,197 shares of COP which is valued at $450,911. ConocoPhillips makes up approx 0.19% of Stokes Hubbell Capital Management’s portfolio.

ConocoPhillips closed down -1.06 points or -2.39% at $43.33 with 68,99,410 shares getting traded on Tuesday. Post opening the session at $44.32, the shares hit an intraday low of $43.175 and an intraday high of $44.59 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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. ConocoPhillips was Upgraded by JP Morgan to ” Overweight” on Sep 12, 2016. ConocoPhillips was Upgraded by Jefferies to ” Hold” on Sep 7, 2016.

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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