Harding Loevner LP Holding in Cnooc LTD (CEO) Trimmed by $4.58 Million as Share Value Declined

January 18, 2018 - By reb123z

Harding Loevner Lp decreased its stake in Cnooc Ltd (CEO) by 1.62% based on its latest 2017Q3 regulatory filing with the SEC. Harding Loevner Lp sold 35,508 shares as the company’s stock declined 2.67% while stock markets rallied. The hedge fund held 2.16 million shares of the oil & gas production company at the end of 2017Q3, valued at $280.02M, down from 2.19 million at the end of the previous reported quarter. Harding Loevner Lp who had been investing in Cnooc Ltd for a number of months, seems to be less bullish one the $71.56 billion market cap company. The stock increased 0.39% or $0.61 during the last trading session, reaching $158.9. About 148,071 shares traded or 37.86% up from the average. CNOOC Limited (NYSE:CEO) has risen 2.20% since January 18, 2017 and is uptrending. It has underperformed by 14.50% the S&P500.

Harding Loevner Lp, which manages about $36.30B and $14.51B US Long portfolio, upped its stake in 51Job Inc (NASDAQ:JOBS) by 113,414 shares to 5.02 million shares, valued at $304.04M in 2017Q3, according to the filing. It also increased its holding in Itau Unibanco Hldg Sa (NYSE:ITUB) by 133.67M shares in the quarter, for a total of 193.06M shares, and has risen its stake in Grifols S A (NASDAQ:GRFS).

More notable recent CNOOC Limited (NYSE:CEO) news were published by: Seekingalpha.com which released: “CNOOC: An Asian Oil Tiger Paying A Nice Dividend” on January 09, 2018, also Reuters.com with their article: “China’s CNOOC begins trading on Toronto Stock Exchange” published on September 18, 2013, Marketwatch.com published: “PetroChina Co. Ltd. ADR” on July 10, 2009. More interesting news about CNOOC Limited (NYSE:CEO) were released by: Dividend.com and their article: “CNOOC Ltd. ADR (Sponsored)” published on March 30, 2011 as well as Marketwatch.com‘s news article titled: “CNOOC Ltd. ADR” with publication date: September 13, 2010.

CNOOC Limited (NYSE:CEO) Ratings Coverage

Among 15 analysts covering CNOOC (NYSE:CEO), 9 have Buy rating, 1 Sell and 5 Hold. Therefore 60% are positive. CNOOC has $13100 highest and $110 lowest target. $120.50’s average target is -24.17% below currents $158.9 stock price. CNOOC had 18 analyst reports since August 24, 2015 according to SRatingsIntel. The company was upgraded on Thursday, March 23 by Citigroup. The stock has “Buy” rating by HSBC on Monday, June 5. Bank of America upgraded the shares of CEO in report on Monday, August 31 to “Buy” rating. The firm earned “Neutral” rating on Thursday, August 27 by Bank of America. The rating was upgraded by Goldman Sachs on Tuesday, August 8 to “Buy”. The firm earned “Outperform” rating on Friday, March 24 by Macquarie Research. The rating was maintained by Barclays Capital on Monday, August 24 with “Equal Weight”. The company was upgraded on Wednesday, May 18 by Nomura. The rating was upgraded by Societe Generale to “Hold” on Tuesday, August 25. The rating was downgraded by Credit Agricole to “Sell” on Tuesday, December 8.

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