Adams Asset Advisors buys $7,309,569 stake in ConocoPhillips (COP)

ConocoPhillips (COP) : Adams Asset Advisors scooped up 9,560 additional shares in ConocoPhillips during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 13, 2016. The investment management firm now holds a total of 173,418 shares of ConocoPhillips which is valued at $7,309,569.ConocoPhillips makes up approximately 1.01% of Adams Asset Advisors’s portfolio.

Other Hedge Funds, Including , Highland Capital Management boosted its stake in COP in the latest quarter, The investment management firm added 5,749 additional shares and now holds a total of 168,124 shares of ConocoPhillips which is valued at $7,086,427. ConocoPhillips makes up approx 0.61% of Highland Capital Management’s portfolio. Lgt Capital Partners Ltd. added COP to its portfolio by purchasing 228,000 company shares during the most recent quarter which is valued at $10,120,920. ConocoPhillips makes up approx 1.43% of Lgt Capital Partners Ltd.’s portfolio.Cutler Group Lp boosted its stake in COP in the latest quarter, The investment management firm added 85,624 additional shares and now holds a total of 126,452 shares of ConocoPhillips which is valued at $5,613,204. ConocoPhillips makes up approx 0.35% of Cutler Group Lp’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in COP in the latest quarter, The investment management firm added 27,363 additional shares and now holds a total of 604,622 shares of ConocoPhillips which is valued at $26,548,952. ConocoPhillips makes up approx 0.11% of Bnp Paribas Arbitrage Sa’s portfolio.Washington Trust Bank reduced its stake in COP by selling 406 shares or 3.73% in the most recent quarter. The Hedge Fund company now holds 10,468 shares of COP which is valued at $459,650. ConocoPhillips makes up approx 0.11% of Washington Trust Bank’s portfolio.

ConocoPhillips closed down -1.06 points or -2.39% at $43.33 with 68,99,410 shares getting traded on Tuesday. Post opening the session at $44.32, the shares hit an intraday low of $43.175 and an intraday high of $44.59 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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. ConocoPhillips was Upgraded by JP Morgan to ” Overweight” on Sep 12, 2016. ConocoPhillips was Upgraded by Jefferies to ” Hold” on Sep 7, 2016.

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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