Point72 Asset Management adds ConocoPhillips (COP) to its portfolio

ConocoPhillips (COP) : Point72 Asset Management added new position in ConocoPhillips during the most recent quarter end. The investment management firm now holds 4,309,925 shares of ConocoPhillips which is valued at $178,301,597 , the company said in a statement filed on Aug 15, 2016 with the SEC.ConocoPhillips makes up approximately 1.42% of Point72 Asset Management’s portfolio.

Other Hedge Funds, Including , Fred Alger Management Inc boosted its stake in COP in the latest quarter, The investment management firm added 7,900 additional shares and now holds a total of 46,982 shares of ConocoPhillips which is valued at $1,943,645. ConocoPhillips makes up approx 0.01% of Fred Alger Management Inc’s portfolio.Manning Napier Advisors reduced its stake in COP by selling 26,301 shares or 47.29% in the most recent quarter. The Hedge Fund company now holds 29,319 shares of COP which is valued at $1,190,351. ConocoPhillips makes up approx 0.01% of Manning Napier Advisors’s portfolio.Cable Hill Partners reduced its stake in COP by selling 122 shares or 9.14% in the most recent quarter. The Hedge Fund company now holds 1,213 shares of COP which is valued at $49,248. ConocoPhillips makes up approx 0.03% of Cable Hill Partners’s portfolio.Intrust Bank Na reduced its stake in COP by selling 2,771 shares or 6.55% in the most recent quarter. The Hedge Fund company now holds 39,544 shares of COP which is valued at $1,594,019. ConocoPhillips makes up approx 0.63% of Intrust Bank Na’s portfolio.

ConocoPhillips closed down -0.45 points or -1.10% at $40.6 with 75,36,590 shares getting traded on Thursday. Post opening the session at $40.9, the shares hit an intraday low of $40.13 and an intraday high of $41.1 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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