Vanguard Group Inc buys $3,409.6 Million stake in ConocoPhillips (COP)

ConocoPhillips (COP) : Vanguard Group Inc scooped up 2,721,805 additional shares in ConocoPhillips during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 79,257,231 shares of ConocoPhillips which is valued at $3,409.6 Million.ConocoPhillips makes up approximately 0.22% of Vanguard Group Inc’s portfolio.

Other Hedge Funds, Including , First Niagara Bank reduced its stake in COP by selling 969 shares or 4.44% in the most recent quarter. The Hedge Fund company now holds 20,861 shares of COP which is valued at $897,440. ConocoPhillips makes up approx 0.26% of First Niagara Bank’s portfolio.Mitsubishi Ufj Trust Banking Corp reduced its stake in COP by selling 40,964 shares or 1.58% in the most recent quarter. The Hedge Fund company now holds 2,556,341 shares of COP which is valued at $110 Million. ConocoPhillips makes up approx 0.25% of Mitsubishi Ufj Trust Banking Corp’s portfolio.Baird Financial Group reduced its stake in COP by selling 32,079 shares or 11.07% in the most recent quarter. The Hedge Fund company now holds 257,649 shares of COP which is valued at $11.1 Million. ConocoPhillips makes up approx 0.11% of Baird Financial Group’s portfolio.Institutional Family Asset Management reduced its stake in COP by selling 117 shares or 0.25% in the most recent quarter. The Hedge Fund company now holds 46,152 shares of COP which is valued at $2 Million. ConocoPhillips makes up approx 0.72% of Institutional Family Asset Management’s portfolio.Farmers National Bank boosted its stake in COP in the latest quarter, The investment management firm added 93 additional shares and now holds a total of 8,066 shares of ConocoPhillips which is valued at $346,999. ConocoPhillips makes up approx 0.23% of Farmers National Bank’s portfolio.

ConocoPhillips opened for trading at $43.9 and hit $45.055 on the upside on Wednesday, eventually ending the session at $44.9, with a gain of 3.31% or 1.44 points. The heightened volatility saw the trading volume jump to 64,68,436 shares. Company has a market cap of $55,604 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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