Exxonmobil Investment Management Inc Tx Lowers stake in Level 3 Communications (LVLT)

Level 3 Communications (LVLT) : Exxonmobil Investment Management Inc Tx reduced its stake in Level 3 Communications by 0.92% during the most recent quarter end. The investment management company now holds a total of 74,358 shares of Level 3 Communications which is valued at $3,407,084 after selling 689 shares in Level 3 Communications , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Level 3 Communications makes up approximately 0.07% of Exxonmobil Investment Management Inc Tx’s portfolio.

Other Hedge Funds, Including , Simplex Trading boosted its stake in LVLT in the latest quarter, The investment management firm added 3,576 additional shares and now holds a total of 5,774 shares of Level 3 Communications which is valued at $264,565. Level 3 Communications makes up approx 0.03% of Simplex Trading’s portfolio.Chevy Chase Trust Holdings reduced its stake in LVLT by selling 4,778 shares or 1.93% in the most recent quarter. The Hedge Fund company now holds 243,359 shares of LVLT which is valued at $11,102,038. Level 3 Communications makes up approx 0.06% of Chevy Chase Trust Holdings’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in LVLT by selling 12,983 shares or 50.1% in the most recent quarter. The Hedge Fund company now holds 12,933 shares of LVLT which is valued at $590,003. Washington Trust Bank added LVLT to its portfolio by purchasing 39 company shares during the most recent quarter which is valued at $1,779.

Level 3 Communications opened for trading at $45.88 and hit $46.45 on the upside on Friday, eventually ending the session at $45.82, with a gain of 0.24% or 0.11 points. The heightened volatility saw the trading volume jump to 25,88,362 shares. Company has a market cap of $16,473 M.

On the company’s financial health, Level 3 Communications reported $0.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.45. The company had revenue of $2056.00 million for the quarter, compared to analysts expectations of $2078.64 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS.

Many Wall Street Analysts have commented on Level 3 Communications. Level 3 Communications was Upgraded by MoffettNathanson to ” Buy” on Aug 24, 2016. Level 3 Communications was Downgraded by JP Morgan to ” Neutral” on Jul 28, 2016. Level 3 Communications was Initiated by Pacific Crest to “Sector Weight” on Jul 25, 2016.

Level 3 Communications Inc. is a provider of a range of integrated communications services. The Company’s operating segments include North America includes operations in Georgia Colorado Florida Canada New York Arizona Pennsylvania Michigan and Oklahoma; Europe includes operations in England Ireland The Netherlands and France; The Latin America includes operations in Colombia Argentina Venezuela Peru Ecuador Chile and Brazil. The Asia or Pacific includes operations in China Singapore and Japan. The tw telecom inc. (tw telecom) is an indirect wholly owned subsidiary of the Company. The Company offers services which includes core network services and wholesale voice services. It offers products which include core network services including transport and fiber services colocation and data center services IP and data services managed services cloud and IT services voice services and wholesale voice services including voice termination and toll free.

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