Peak Asset Management buys $3,461,742 stake in ConocoPhillips (COP)

ConocoPhillips (COP) : Peak Asset Management scooped up 8,560 additional shares in ConocoPhillips during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 85,878 shares of ConocoPhillips which is valued at $3,461,742.ConocoPhillips makes up approximately 0.71% of Peak Asset Management’s portfolio.

Other Hedge Funds, Including , Mitsubishi Ufj Kokusai Asset Management Ltd. boosted its stake in COP in the latest quarter, The investment management firm added 5,279 additional shares and now holds a total of 184,761 shares of ConocoPhillips which is valued at $7,447,716. ConocoPhillips makes up approx 0.19% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.North Star Asset Management Inc reduced its stake in COP by selling 140 shares or 1.89% in the most recent quarter. The Hedge Fund company now holds 7,284 shares of COP which is valued at $297,333. ConocoPhillips makes up approx 0.03% of North Star Asset Management Inc’s portfolio.Shell Asset Management Co reduced its stake in COP by selling 136,723 shares or 45.2% in the most recent quarter. The Hedge Fund company now holds 165,743 shares of COP which is valued at $6,641,322. ConocoPhillips makes up approx 0.15% of Shell Asset Management Co’s portfolio.Naples Global Advisors reduced its stake in COP by selling 597 shares or 3.02% in the most recent quarter. The Hedge Fund company now holds 19,144 shares of COP which is valued at $820,703. ConocoPhillips makes up approx 0.33% of Naples Global Advisors’s portfolio.

ConocoPhillips opened for trading at $40.98 and hit $41.8 on the upside on Monday, eventually ending the session at $41.56, with a gain of 2.36% or 0.96 points. The heightened volatility saw the trading volume jump to 96,79,509 shares. Company has a market cap of $51,472 M.

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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