Mechanics Bank Trust Department Lowers stake in ConocoPhillips (COP)

ConocoPhillips (COP) : Mechanics Bank Trust Department reduced its stake in ConocoPhillips by 3.34% during the most recent quarter end. The investment management company now holds a total of 35,321 shares of ConocoPhillips which is valued at $1,681,986 after selling 1,221 shares in ConocoPhillips , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.ConocoPhillips makes up approximately 0.65% of Mechanics Bank Trust Department’s portfolio.

ConocoPhillips opened for trading at $48.55 and hit $48.91 on the upside on Wednesday, eventually ending the session at $48.11, with a gain of 0.06% or 0.03 points. The heightened volatility saw the trading volume jump to 1,15,56,539 shares. Company has a market cap of $59,474 M.

Other Hedge Funds, Including , Strs Ohio sold out all of its stake in COP during the most recent quarter. The investment firm sold 992,640 shares of COP which is valued $47,269,517. Randolph Co Inc sold out all of its stake in COP during the most recent quarter. The investment firm sold 331,845 shares of COP which is valued $15,802,459.Crossvault Capital Management boosted its stake in COP in the latest quarter, The investment management firm added 14,140 additional shares and now holds a total of 91,809 shares of ConocoPhillips which is valued at $4,371,945. ConocoPhillips makes up approx 3.18% of Crossvault Capital Management’s portfolio.Carnegie Capital Asset Management reduced its stake in COP by selling 863 shares or 3.55% in the most recent quarter. The Hedge Fund company now holds 23,416 shares of COP which is valued at $1,023,279. ConocoPhillips makes up approx 0.15% of Carnegie Capital Asset Management’s portfolio.Lau Associates reduced its stake in COP by selling 866 shares or 1.16% in the most recent quarter. The Hedge Fund company now holds 73,577 shares of COP which is valued at $3,215,315. ConocoPhillips makes up approx 3.27% of Lau Associates’s portfolio.

On the company’s financial health, ConocoPhillips reported $-0.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.26 based on the information available during the earnings call on Feb 4, 2016. Analyst had a consensus of $-0.64.Analysts expectations of $ 7270.46.During the same quarter in the previous year, the company posted $0.60 EPS.

Many Wall Street Analysts have commented on ConocoPhillips. ConocoPhillips was Downgraded by Jefferies to ” Underperform” on Apr 21, 2016. Company shares were Reiterated by Deutsche Bank on Mar 29, 2016 to “Buy”, Firm has raised the Price Target to $ 62 from a previous price target of $55 .Shares were Reiterated by UBS on Feb 5, 2016 to “Neutral” and Lowered the Price Target to $ 38 from a previous price target of $42 .

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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