First Mercantile Trust Co Lowers stake in ConocoPhillips (COP)

ConocoPhillips (COP) : First Mercantile Trust Co reduced its stake in ConocoPhillips by 3.52% during the most recent quarter end. The investment management company now holds a total of 16,425 shares of ConocoPhillips which is valued at $726,314 after selling 600 shares in ConocoPhillips , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.ConocoPhillips makes up approximately 0.10% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Arvest Bank Trust Division reduced its stake in COP by selling 2,164 shares or 0.6% in the most recent quarter. The Hedge Fund company now holds 356,375 shares of COP which is valued at $15,758,903. ConocoPhillips makes up approx 1.33% of Arvest Bank Trust Division’s portfolio.Chevy Chase Trust Holdings reduced its stake in COP by selling 25,099 shares or 2.36% in the most recent quarter. The Hedge Fund company now holds 1,038,600 shares of COP which is valued at $45,604,926. ConocoPhillips makes up approx 0.25% of Chevy Chase Trust Holdings’s portfolio.Stillwater Investment Management reduced its stake in COP by selling 26 shares or 0.09% in the most recent quarter. The Hedge Fund company now holds 29,049 shares of COP which is valued at $1,275,542. ConocoPhillips makes up approx 0.69% of Stillwater Investment Management’s portfolio.First American Trust Fsb reduced its stake in COP by selling 1,703 shares or 2.66% in the most recent quarter. The Hedge Fund company now holds 62,204 shares of COP which is valued at $2,731,378. ConocoPhillips makes up approx 0.86% of First American Trust Fsb’s portfolio.Eqis Capital Management boosted its stake in COP in the latest quarter, The investment management firm added 917 additional shares and now holds a total of 7,610 shares of ConocoPhillips which is valued at $334,155. ConocoPhillips makes up approx 0.02% of Eqis Capital Management’s portfolio.

ConocoPhillips closed down -0.3 points or -0.67% at $44.22 with 82,81,676 shares getting traded on Friday. Post opening the session at $44.5, the shares hit an intraday low of $44.02 and an intraday high of $44.69 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. ConocoPhillips was Upgraded by JP Morgan to ” Overweight” on Sep 12, 2016. ConocoPhillips was Upgraded by Jefferies to ” Hold” on Sep 7, 2016. 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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