Envestnet Asset Management Inc. reduced its stake in shares of CNOOC Ltd (NYSE:CEO) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 119,408 shares of the oil and gas company’s stock after selling 1,781 shares during the period. Envestnet Asset Management Inc.’s holdings in CNOOC were worth $17,142,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of CEO. BlackRock Inc. grew its holdings in shares of CNOOC by 93.1% during the 4th quarter. BlackRock Inc. now owns 392,753 shares of the oil and gas company’s stock valued at $56,382,000 after acquiring an additional 189,363 shares in the last quarter. Renaissance Group LLC purchased a new position in shares of CNOOC during the 4th quarter valued at $15,715,000. Renaissance Technologies LLC grew its holdings in shares of CNOOC by 21.0% during the 4th quarter. Renaissance Technologies LLC now owns 505,000 shares of the oil and gas company’s stock valued at $72,498,000 after acquiring an additional 87,600 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of CNOOC by 383.4% during the 4th quarter. Wells Fargo & Company MN now owns 105,436 shares of the oil and gas company’s stock valued at $15,136,000 after acquiring an additional 83,623 shares in the last quarter. Finally, LMR Partners LLP purchased a new position in shares of CNOOC during the 4th quarter valued at $3,159,000. Institutional investors and hedge funds own 1.59% of the company’s stock.
CEO has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of CNOOC from a “hold” rating to a “buy” rating and set a $168.00 price target on the stock in a report on Tuesday, February 27th. Nomura initiated coverage on shares of CNOOC in a report on Thursday, December 7th. They set a “top pick” rating and a $13.64 price target on the stock. Bank of America upgraded shares of CNOOC from a “neutral” rating to a “buy” rating in a report on Tuesday, January 16th. UBS upgraded shares of CNOOC from a “neutral” rating to a “buy” rating in a report on Monday, March 5th. Finally, JPMorgan Chase & Co. cut shares of CNOOC from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CNOOC currently has a consensus rating of “Buy” and an average target price of $104.21.
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CNOOC Company Profile
CNOOC Limited is a Hong Kong-based investment holding company principally engaged in the exploration, production and trading of oil and gas. Its businesses include conventional oil and gas businesses, shale oil and gas businesses, oil sands businesses and other unconventional oil and gas businesses. The Company mainly operates businesses through three segments.
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