Highland Capital Management buys $7,086,427 stake in ConocoPhillips (COP)

ConocoPhillips (COP) : Highland Capital Management scooped up 5,749 additional shares in ConocoPhillips during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 13, 2016. The investment management firm now holds a total of 168,124 shares of ConocoPhillips which is valued at $7,086,427.ConocoPhillips makes up approximately 0.61% of Highland Capital Management’s portfolio.

Other Hedge Funds, Including , Community Bank N.a. reduced its stake in COP by selling 2,675 shares or 6.14% in the most recent quarter. The Hedge Fund company now holds 40,913 shares of COP which is valued at $1,724,483. ConocoPhillips makes up approx 0.40% of Community Bank N.a.’s portfolio.Gofen Glossberg Il reduced its stake in COP by selling 29 shares or 0.14% in the most recent quarter. The Hedge Fund company now holds 20,039 shares of COP which is valued at $889,531. ConocoPhillips makes up approx 0.04% of Gofen Glossberg Il’s portfolio.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.First National Bank Of Mount Dora Trust Investment Services boosted its stake in COP in the latest quarter, The investment management firm added 3,436 additional shares and now holds a total of 83,097 shares of ConocoPhillips which is valued at $3,648,789. ConocoPhillips makes up approx 2.05% of First National Bank Of Mount Dora Trust Investment Services’s portfolio.Private Asset Management Inc boosted its stake in COP in the latest quarter, The investment management firm added 98 additional shares and now holds a total of 10,421 shares of ConocoPhillips which is valued at $457,586. ConocoPhillips makes up approx 0.08% of Private Asset Management Inc’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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