CNOOC (CEO) Upgraded to Outperform at Macquarie

CNOOC (NYSE:CEO) was upgraded by Macquarie from a “neutral” rating to an “outperform” rating in a note issued to investors on Monday, MarketBeat Ratings reports.

A number of other research analysts have also issued reports on CEO. Zacks Investment Research upgraded CNOOC from a “hold” rating to a “strong-buy” rating and set a $154.00 price objective for the company in a research report on Tuesday, October 31st. Nomura initiated coverage on CNOOC in a research report on Thursday, December 7th. They set a “top pick” rating and a $13.64 price objective for the company. Bank of America upgraded CNOOC from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 16th. JPMorgan Chase & Co. lowered CNOOC from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 16th. Finally, UBS Group lowered CNOOC from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $99.55.

CNOOC (CEO) traded up $2.50 during trading hours on Monday, reaching $142.91. The company had a trading volume of 351,170 shares, compared to its average volume of 146,323. CNOOC has a twelve month low of $108.05 and a twelve month high of $166.23. The firm has a market cap of $64,840.00, a price-to-earnings ratio of 16.31, a P/E/G ratio of 1.09 and a beta of 0.94. The company has a quick ratio of 1.71, a current ratio of 1.82 and a debt-to-equity ratio of 0.32.

Hedge funds have recently made changes to their positions in the business. Oaktree Capital Management LP boosted its position in CNOOC by 5.0% during the 3rd quarter. Oaktree Capital Management LP now owns 223,071 shares of the oil and gas company’s stock worth $28,932,000 after acquiring an additional 10,646 shares during the period. Community Bank & Trust Waco Texas boosted its position in CNOOC by 55.0% during the 4th quarter. Community Bank & Trust Waco Texas now owns 4,729 shares of the oil and gas company’s stock worth $679,000 after acquiring an additional 1,679 shares during the period. Stevens Capital Management LP acquired a new position in CNOOC during the 3rd quarter worth $736,000. First Trust Advisors LP boosted its position in CNOOC by 16.9% during the 3rd quarter. First Trust Advisors LP now owns 54,176 shares of the oil and gas company’s stock worth $7,027,000 after acquiring an additional 7,851 shares during the period. Finally, NorthCoast Asset Management LLC boosted its position in CNOOC by 15.5% during the 3rd quarter. NorthCoast Asset Management LLC now owns 16,601 shares of the oil and gas company’s stock worth $2,153,000 after acquiring an additional 2,225 shares during the period. Institutional investors own 1.67% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “CNOOC (CEO) Upgraded to Outperform at Macquarie” was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The original version of this piece can be accessed at https://www.americanbankingnews.com/2018/02/12/cnooc-ceo-upgraded-to-outperform-at-macquarie.html.

About CNOOC

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.

Analyst Recommendations for CNOOC (NYSE:CEO)

Receive News & Ratings for CNOOC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNOOC and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply