Fayez Sarofim Co Lowers stake in ConocoPhillips (COP)

ConocoPhillips (COP) : Fayez Sarofim Co reduced its stake in ConocoPhillips by 1.0% during the most recent quarter end. The investment management company now holds a total of 3,783,010 shares of ConocoPhillips which is valued at $156,503,124 after selling 38,264 shares in ConocoPhillips , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.ConocoPhillips makes up approximately 0.85% of Fayez Sarofim Co’s portfolio.

Other Hedge Funds, Including , Cetera Investment Advisers reduced its stake in COP by selling 1,773 shares or 6.41% in the most recent quarter. The Hedge Fund company now holds 25,873 shares of COP which is valued at $1,070,366. ConocoPhillips makes up approx 0.41% of Cetera Investment Advisers’s portfolio.Intersect Capital reduced its stake in COP by selling 1,208 shares or 4.32% in the most recent quarter. The Hedge Fund company now holds 26,740 shares of COP which is valued at $1,106,769. ConocoPhillips makes up approx 0.65% of Intersect Capital’s portfolio.Assetmark Inc boosted its stake in COP in the latest quarter, The investment management firm added 2,819 additional shares and now holds a total of 169,913 shares of ConocoPhillips which is valued at $7,032,699. ConocoPhillips makes up approx 0.11% of Assetmark Inc’s portfolio.Oppenheimer Co Inc reduced its stake in COP by selling 25,382 shares or 17.53% in the most recent quarter. The Hedge Fund company now holds 119,406 shares of COP which is valued at $4,942,214. ConocoPhillips makes up approx 0.14% of Oppenheimer Co Inc’s portfolio.Palisade Asset Management reduced its stake in COP by selling 1,200 shares or 3.96% in the most recent quarter. The Hedge Fund company now holds 29,112 shares of COP which is valued at $1,248,031. ConocoPhillips makes up approx 0.23% of Palisade Asset Management’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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