Sta Wealth Management buys $1,174,743 stake in ConocoPhillips (COP)

ConocoPhillips (COP) : Sta Wealth Management scooped up 23,884 additional shares in ConocoPhillips during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 28,396 shares of ConocoPhillips which is valued at $1,174,743.ConocoPhillips makes up approximately 0.58% of Sta Wealth Management’s portfolio.

Other Hedge Funds, Including , D. E. Shaw boosted its stake in COP in the latest quarter, The investment management firm added 383,438 additional shares and now holds a total of 825,766 shares of ConocoPhillips which is valued at $34,161,939. ConocoPhillips makes up approx 0.07% of D. E. Shaw’s portfolio. Sapphire Star Partners Lp sold out all of its stake in COP during the most recent quarter. The investment firm sold 10,998 shares of COP which is valued $454,987.Castleark Management reduced its stake in COP by selling 611,095 shares or 83.69% in the most recent quarter. The Hedge Fund company now holds 119,060 shares of COP which is valued at $4,925,512. ConocoPhillips makes up approx 0.15% of Castleark Management’s portfolio.Montgomery Investment Management Inc reduced its stake in COP by selling 982 shares or 0.7% in the most recent quarter. The Hedge Fund company now holds 140,023 shares of COP which is valued at $5,792,752. ConocoPhillips makes up approx 2.76% of Montgomery Investment Management Inc’s portfolio.Hgk Asset Management Inc reduced its stake in COP by selling 54,260 shares or 14.99% in the most recent quarter. The Hedge Fund company now holds 307,632 shares of COP which is valued at $12,489,859. ConocoPhillips makes up approx 1.80% of Hgk Asset Management Inc’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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