Hedge Funds Aren’t Crazy About CNOOC Limited (ADR) (CEO) Anymore: Anadarko Petroleum Corporation (APC), EOG Resources Inc (EOG)

Page 1 of 2

CNOOC Limited (ADR)CNOOC Limited (ADR) (NYSE:CEO) was in 10 hedge funds’ portfolio at the end of the fourth quarter of 2012. CEO investors should pay attention to a decrease in enthusiasm from smart money recently. There were 12 hedge funds in our database with CEO holdings at the end of the previous quarter.

According to most market participants, hedge funds are seen as slow, outdated investment tools of yesteryear. While there are greater than 8000 funds with their doors open at present, we at Insider Monkey choose to focus on the upper echelon of this club, about 450 funds. It is estimated that this group has its hands on the majority of the smart money’s total asset base, and by paying attention to their top investments, we have brought to light a number of investment strategies that have historically beaten the market. Our small-cap hedge fund strategy outperformed the S&P 500 index by 18 percentage points per annum for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have trumped the S&P 500 index by 24 percentage points in 7 months (check out a sample of our picks).

Equally as beneficial, positive insider trading sentiment is another way to break down the marketplace. Obviously, there are many stimuli for an upper level exec to get rid of shares of his or her company, but only one, very simple reason why they would initiate a purchase. Plenty of academic studies have demonstrated the market-beating potential of this strategy if shareholders know what to do (learn more here).

Consequently, we’re going to take a gander at the key action regarding CNOOC Limited (ADR) (NYSE:CEO).

How are hedge funds trading CNOOC Limited (ADR) (NYSE:CEO)?

At the end of the fourth quarter, a total of 10 of the hedge funds we track were bullish in this stock, a change of -17% from one quarter earlier. With the smart money’s sentiment swirling, there exists a few noteworthy hedge fund managers who were upping their stakes meaningfully.

Of the funds we track, Ken Fisher’s Fisher Asset Management had the biggest position in CNOOC Limited (ADR) (NYSE:CEO), worth close to $418.8 million, comprising 1.2% of its total 13F portfolio. Sitting at the No. 2 spot is Cliff Asness of AQR Capital Management, with a $11.7 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Other hedge funds with similar optimism include Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Joel Greenblatt’s Gotham Asset Management and Jane Mendillo’s Harvard Management Co.

Judging by the fact that CNOOC Limited (ADR) (NYSE:CEO) has witnessed falling interest from the smart money, we can see that there were a few fund managers that elected to cut their entire stakes heading into 2013. It’s worth mentioning that Jim Simons’s Renaissance Technologies cut the largest investment of the 450+ funds we key on, valued at an estimated $13.8 million in stock.. Sander Gerber’s fund, Hudson Bay Capital Management, also sold off its stock, about $0.9 million worth. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest fell by 2 funds heading into 2013.

What do corporate executives and insiders think about CNOOC Limited (ADR) (NYSE:CEO)?

Insider buying is at its handiest when the company in focus has experienced transactions within the past 180 days. Over the latest half-year time frame, CNOOC Limited (ADR) (NYSE:CEO) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to CNOOC Limited (ADR) (NYSE:CEO). These stocks are EOG Resources Inc (NYSE:EOG), Canadian Natural Resource Ltd (USA) (NYSE:CNQ), Anadarko Petroleum Corporation (NYSE:APC), Suncor Energy Inc. (USA) (NYSE:SU), and Enterprise Products Partners L.P. (NYSE:EPD). This group of stocks belong to the independent oil & gas industry and their market caps resemble CEO’s market cap.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!