Comerica Bank buys $46.9 Million stake in ConocoPhillips (COP)

ConocoPhillips (COP) : Comerica Bank scooped up 237,045 additional shares in ConocoPhillips during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 1,091,349 shares of ConocoPhillips which is valued at $46.9 Million.ConocoPhillips makes up approximately 0.43% of Comerica Bank’s portfolio.

Other Hedge Funds, Including , Morgan Dempsey Capital Management sold out all of its stake in COP during the most recent quarter. The investment firm sold 18,066 shares of COP which is valued $777,199.South Street Advisors boosted its stake in COP in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 34,700 shares of ConocoPhillips which is valued at $1.5 Million. ConocoPhillips makes up approx 0.50% of South Street Advisors’s portfolio.State Treasurer State Of Michigan boosted its stake in COP in the latest quarter, The investment management firm added 3,300 additional shares and now holds a total of 425,615 shares of ConocoPhillips which is valued at $18.2 Million. ConocoPhillips makes up approx 0.14% of State Treasurer State Of Michigan’s portfolio.Aperio Group reduced its stake in COP by selling 89,974 shares or 22.05% in the most recent quarter. The Hedge Fund company now holds 318,135 shares of COP which is valued at $15.2 Million. ConocoPhillips makes up approx 0.13% of Aperio Group’s portfolio.

ConocoPhillips opened for trading at $43.79 and hit $44.5101 on the upside on Monday, eventually ending the session at $44.08, with a gain of 2.46% or 1.06 points. The heightened volatility saw the trading volume jump to 78,37,876 shares. Company has a market cap of $54,588 M.

On the company’s financial health, ConocoPhillips reported $-0.95 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $-1.04.Analysts expectations of $ 4960.60.During the same quarter in the previous year, the company posted $-0.18 EPS.

Many Wall Street Analysts have commented on ConocoPhillips. Company shares were Reiterated by UBS on Apr 29, 2016 to “Neutral”, Firm has raised the Price Target to $ 48 from a previous price target of $40 .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 .

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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