Causeway Capital Management Boosted Its Cnooc LTD (CEO) Stake by $1.91 Million as Market Valuation Declined; Manor Road Capital Partners Cut Its Liberty Global Plc (LBTYK) Holding as Shares Declined

February 12, 2018 - By Michael Collier

John Ku decreased its stake in Liberty Global Plc (LBTYK) by 15.47% based on its latest 2017Q3 regulatory filing with the SEC. Manor Road Capital Partners Llc sold 1.57 million shares as the company’s stock declined 17.26% while stock markets rallied. The hedge fund run by John Ku held 8.58 million shares of the television services company at the end of 2017Q3, valued at $280.57M, down from 10.15 million at the end of the previous reported quarter. Manor Road Capital Partners Llc who had been investing in Liberty Global Plc for a number of months, seems to be less bullish one the $34.02 billion market cap company. The stock increased 0.38% or $0.13 during the last trading session, reaching $33.99. About 3.75 million shares traded or 33.39% up from the average. Liberty Global plc (NASDAQ:LBTYK) has declined 6.78% since February 12, 2017 and is downtrending. It has underperformed by 23.48% the S&P500.

Causeway Capital Management Llc increased its stake in Cnooc Ltd (CEO) by 10.46% based on its latest 2017Q3 regulatory filing with the SEC. Causeway Capital Management Llc bought 14,843 shares as the company’s stock declined 2.67% while stock markets rallied. The institutional investor held 156,798 shares of the oil & gas production company at the end of 2017Q3, valued at $20.34M, up from 141,955 at the end of the previous reported quarter. Causeway Capital Management Llc who had been investing in Cnooc Ltd for a number of months, seems to be bullish on the $64.82 billion market cap company. The stock decreased 0.98% or $1.39 during the last trading session, reaching $140.41. About 379,876 shares traded or 217.91% up from the average. CNOOC Limited (NYSE:CEO) has risen 2.20% since February 12, 2017 and is uptrending. It has underperformed by 14.50% the S&P500.

Among 15 analysts covering CNOOC (NYSE:CEO), 9 have Buy rating, 1 Sell and 5 Hold. Therefore 60% are positive. CNOOC had 18 analyst reports since August 24, 2015 according to SRatingsIntel. The company was upgraded on Wednesday, May 18 by Nomura. The stock of CNOOC Limited (NYSE:CEO) has “Neutral” rating given on Friday, March 24 by JP Morgan. The stock has “Buy” rating by HSBC on Monday, June 5. The rating was upgraded by Macquarie Research to “Outperform” on Friday, March 24. Goldman Sachs upgraded CNOOC Limited (NYSE:CEO) on Tuesday, August 8 to “Buy” rating. On Tuesday, August 25 the stock rating was upgraded by Societe Generale to “Hold”. The rating was upgraded by BOCOM International on Tuesday, June 21 to “Buy”. The rating was upgraded by Jefferies on Tuesday, September 29 to “Buy”. The firm earned “Buy” rating on Thursday, March 23 by Citigroup. The rating was upgraded by Mizuho on Tuesday, May 17 to “Buy”.

Causeway Capital Management Llc, which manages about $27.14B and $8.90B US Long portfolio, decreased its stake in Ing Groep N V (NYSE:ING) by 173,311 shares to 315,493 shares, valued at $5.81M in 2017Q3, according to the filing. It also reduced its holding in Dr Reddys Labs Ltd (NYSE:RDY) by 92,500 shares in the quarter, leaving it with 96,043 shares, and cut its stake in Netease Inc (NASDAQ:NTES).

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