Profund Advisors LLC Lowers Stock Position in CNOOC Ltd (NYSE:CEO)

Profund Advisors LLC lowered its position in CNOOC Ltd (NYSE:CEO) by 23.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,069 shares of the oil and gas company’s stock after selling 4,815 shares during the period. Profund Advisors LLC’s holdings in CNOOC were worth $2,737,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. purchased a new stake in shares of CNOOC in the second quarter valued at about $51,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of CNOOC in the second quarter valued at about $70,000. Icon Wealth Partners LLC purchased a new stake in shares of CNOOC in the first quarter valued at about $96,000. Shilanski & Associates Inc. purchased a new stake in shares of CNOOC in the second quarter valued at about $205,000. Finally, Fiera Capital Corp purchased a new stake in shares of CNOOC in the first quarter valued at about $230,000. Institutional investors own 1.92% of the company’s stock.

NYSE:CEO traded up $0.61 on Friday, reaching $151.25. 2,952 shares of the company’s stock were exchanged, compared to its average volume of 102,487. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.21 and a quick ratio of 2.14. The firm has a market cap of $68.86 billion, a price-to-earnings ratio of 8.87, a P/E/G ratio of 1.19 and a beta of 1.07. CNOOC Ltd has a 52 week low of $139.77 and a 52 week high of $202.38. The stock has a fifty day simple moving average of $151.83 and a 200-day simple moving average of $168.28.

The firm also recently announced a — dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Thursday, September 12th will be given a dividend of $4.2068 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a yield of 5.4%. CNOOC’s dividend payout ratio is presently 53.75%.

Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of CNOOC from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th. CICC Research upgraded shares of CNOOC from a “neutral” rating to an “outperform” rating in a research report on Monday, July 22nd. Macquarie upgraded shares of CNOOC from a “neutral” rating to an “outperform” rating in a research report on Thursday, June 6th. JPMorgan Chase & Co. upgraded shares of CNOOC from a “neutral” rating to an “overweight” rating in a research report on Friday, May 17th. Finally, Daiwa Capital Markets upgraded shares of CNOOC from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $202.00.

CNOOC Profile

CNOOC Limited, an investment holding company, explores for, develops, produces, and sells crude oil, natural gas, and other petroleum products. It operates through Exploration and Production, and Trading Business segments. The company produces offshore crude oil and natural gas primarily in Bohai, Western South China Sea, Eastern South China Sea, and East China Sea in offshore China.

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Institutional Ownership by Quarter for CNOOC (NYSE:CEO)

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