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According to most market participants, hedge funds are seen as slow, outdated investment tools of yesteryear.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

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!