Oppenheimer & Co. Inc. Takes $229,000 Position in CNOOC Ltd (CEO)
Oppenheimer & Co. Inc. acquired a new stake in shares of CNOOC Ltd (NYSE:CEO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,335 shares of the oil and gas company’s stock, valued at approximately $229,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in CNOOC by 6.5% during the first quarter. Dimensional Fund Advisors LP now owns 672,425 shares of the oil and gas company’s stock valued at $99,416,000 after buying an additional 40,804 shares during the period. Oaktree Capital Management LP grew its position in CNOOC by 2.7% during the first quarter. Oaktree Capital Management LP now owns 226,924 shares of the oil and gas company’s stock valued at $33,555,000 after buying an additional 5,957 shares during the period. Pendal Group Ltd bought a new stake in CNOOC during the second quarter valued at approximately $35,096,000. JPMorgan Chase & Co. grew its position in CNOOC by 8.1% during the first quarter. JPMorgan Chase & Co. now owns 179,609 shares of the oil and gas company’s stock valued at $26,558,000 after buying an additional 13,422 shares during the period. Finally, Todd Asset Management LLC grew its position in CNOOC by 9.8% during the second quarter. Todd Asset Management LLC now owns 174,424 shares of the oil and gas company’s stock valued at $29,868,000 after buying an additional 15,542 shares during the period. 1.81% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research lowered shares of CNOOC from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 6th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $90.82.
The company also recently declared a semiannual dividend, which will be paid on Tuesday, October 23rd. Shareholders of record on Thursday, September 6th will be given a $3.8217 dividend. The ex-dividend date is Wednesday, September 5th. This represents a dividend yield of 4.38%. CNOOC’s payout ratio is currently 73.55%.
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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