Exxonmobil Investment Management Inc. TX reduced its position in shares of Level 3 Communications Inc. (NYSE:LVLT) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,358 shares of the company’s stock after selling 689 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Level 3 Communications were worth $3,449,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LPL Financial LLC increased its position in shares of Level 3 Communications by 72.4% in the first quarter. LPL Financial LLC now owns 30,844 shares of the company’s stock worth $1,585,000 after buying an additional 12,948 shares during the period. Panagora Asset Management Inc. increased its position in Level 3 Communications by 42.0% in the first quarter. Panagora Asset Management Inc. now owns 108,532 shares of the company’s stock valued at $5,736,000 after buying an additional 32,098 shares during the last quarter. Arizona State Retirement System increased its position in Level 3 Communications by 1.6% in the first quarter. Arizona State Retirement System now owns 78,400 shares of the company’s stock valued at $4,143,000 after buying an additional 1,200 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Level 3 Communications by 7.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,835 shares of the company’s stock valued at $1,207,000 after buying an additional 1,566 shares during the last quarter. Finally, BlueMountain Capital Management LLC purchased a new position in Level 3 Communications during the first quarter valued at $277,000.

Institutional Ownership by Quarter for Level 3 Communications (NYSE:LVLT)

Level 3 Communications Inc. (NYSE:LVLT) traded down 1.06% during trading on Tuesday, reaching $56.17. The company had a trading volume of 1,727,620 shares. Level 3 Communications Inc. has a one year low of $41.73 and a one year high of $57.59. The firm’s 50 day moving average is $51.50 and its 200 day moving average is $50.98. The company has a market capitalization of $20.22 billion, a PE ratio of 5.43 and a beta of 1.60.

Level 3 Communications (NYSE:LVLT) last released its earnings results on Thursday, November 3rd. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by $0.04. Level 3 Communications had a return on equity of 6.18% and a net margin of 45.64%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the previous year, the business posted $0.48 EPS. Level 3 Communications’s revenue was down 1.4% on a year-over-year basis. On average, equities research analysts predict that Level 3 Communications Inc. will post $1.59 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This report was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another website, it was copied illegally and republished in violation of United States & international trademark & copyright law. The original version of this report can be accessed at https://www.thecerbatgem.com/2016/11/29/exxonmobil-investment-management-inc-tx-has-3449000-position-in-level-3-communications-inc-lvlt.html.

LVLT has been the subject of several research reports. Goldman Sachs Group Inc. reiterated a “conviction-buy” rating and set a $55.00 price target (down previously from $64.00) on shares of Level 3 Communications in a research note on Thursday, October 13th. Royal Bank Of Canada downgraded Level 3 Communications from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $58.00 to $63.00 in a research note on Tuesday, November 1st. FBR & Co increased their price target on Level 3 Communications from $55.00 to $66.50 and gave the stock a “market perform” rating in a research note on Tuesday, November 1st. Oppenheimer Holdings Inc. upgraded Level 3 Communications from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a research note on Friday, October 28th. Finally, BTIG Research initiated coverage on Level 3 Communications in a research note on Monday, August 8th. They set a “buy” rating and a $63.00 price target for the company. Fourteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $61.31.

In other news, insider Hector Alonso sold 10,000 shares of Level 3 Communications stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $56.78, for a total transaction of $567,800.00. Following the sale, the insider now owns 112,228 shares in the company, valued at $6,372,305.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeffrey K. Storey sold 20,000 shares of Level 3 Communications stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $51.00, for a total transaction of $1,020,000.00. Following the sale, the insider now owns 633,739 shares in the company, valued at approximately $32,320,689. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

About Level 3 Communications

Level 3 Communications, Inc is a provider of a range of integrated communications services. The Company’s operating segments include North America, EMEA and Latin America. The North America includes operations in Atlanta, Georgia; Littleton, Colorado; Miami, Florida; Montreal, Canada; New York, New York; Phoenix, Arizona; Pittsburgh, Pennsylvania; Southfield, Michigan, and Tulsa, Oklahoma.

5 Day Chart for NYSE:LVLT

Receive News & Stock Ratings for Level 3 Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Level 3 Communications Inc. and related stocks with our FREE daily email newsletter.