Jolley Asset Management Lowers stake in ConocoPhillips (COP)

ConocoPhillips (COP) : Jolley Asset Management reduced its stake in ConocoPhillips by 0.68% during the most recent quarter end. The investment management company now holds a total of 60,784 shares of ConocoPhillips which is valued at $2,532,869 after selling 418 shares in ConocoPhillips , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.ConocoPhillips makes up approximately 2.09% of Jolley Asset Management’s portfolio.

Other Hedge Funds, Including , Koshinski Asset Management reduced its stake in COP by selling 73 shares or 0.29% in the most recent quarter. The Hedge Fund company now holds 25,176 shares of COP which is valued at $1,049,084. ConocoPhillips makes up approx 0.52% of Koshinski Asset Management’s portfolio.Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in COP in the latest quarter, The investment management firm added 7,277 additional shares and now holds a total of 248,847 shares of ConocoPhillips which is valued at $10,369,454. ConocoPhillips makes up approx 0.23% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.Capstone Asset Management Co reduced its stake in COP by selling 6,097 shares or 6.07% in the most recent quarter. The Hedge Fund company now holds 94,348 shares of COP which is valued at $4,088,099. ConocoPhillips makes up approx 0.12% of Capstone Asset Management Co’s portfolio.

ConocoPhillips closed down -0.48 points or -1.14% at $41.67 with 65,71,294 shares getting traded on Friday. Post opening the session at $42.35, the shares hit an intraday low of $41.64 and an intraday high of $42.74 and the price fluctuated in this range throughout the day.Shares ended Friday 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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