Employees Retirement System Of Texas buys $30.6 Million stake in ConocoPhillips (COP)

ConocoPhillips (COP) : Employees Retirement System Of Texas scooped up 98,100 additional shares in ConocoPhillips during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 711,700 shares of ConocoPhillips which is valued at $30.6 Million.ConocoPhillips makes up approximately 0.43% of Employees Retirement System Of Texas’s portfolio.

Other Hedge Funds, Including , Cornerstone Capital reduced its stake in COP by selling 6,306 shares or 3.7% in the most recent quarter. The Hedge Fund company now holds 164,318 shares of COP which is valued at $7.1 Million. ConocoPhillips makes up approx 1.57% of Cornerstone Capital’s portfolio.Financial Management Professionals boosted its stake in COP in the latest quarter, The investment management firm added 7 additional shares and now holds a total of 2,864 shares of ConocoPhillips which is valued at $122,465. ConocoPhillips makes up approx 0.06% of Financial Management Professionals’s portfolio.Bank Of The West reduced its stake in COP by selling 228 shares or 1.33% in the most recent quarter. The Hedge Fund company now holds 16,869 shares of COP which is valued at $721,318. ConocoPhillips makes up approx 0.10% of Bank Of The West’s portfolio.Motco boosted its stake in COP in the latest quarter, The investment management firm added 1,792 additional shares and now holds a total of 46,817 shares of ConocoPhillips which is valued at $2 Million. ConocoPhillips makes up approx 0.24% of Motco’s portfolio.First Mercantile Trust Co reduced its stake in COP by selling 1,600 shares or 11.35% in the most recent quarter. The Hedge Fund company now holds 12,494 shares of COP which is valued at $597,088. ConocoPhillips makes up approx 0.07% of First Mercantile Trust Co’s portfolio.

ConocoPhillips opened for trading at $43.52 and hit $43.99 on the upside on Friday, eventually ending the session at $43.58, with a gain of 0.51% or 0.22 points. The heightened volatility saw the trading volume jump to 63,97,736 shares. Company has a market cap of $53,969 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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