CNOOC Ltd (NYSE:CEO) Announces $5.80 Semi-annual Dividend

CNOOC Ltd (NYSE:CEO) announced a semi-annual dividend on Thursday, March 26th, Wall Street Journal reports. Shareholders of record on Thursday, June 4th will be given a dividend of 5.804 per share by the oil and gas company on Friday, July 17th. This represents a yield of 8.4%. The ex-dividend date is Wednesday, June 3rd.

CNOOC has increased its dividend by an average of 15.3% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. CNOOC has a dividend payout ratio of 41.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect CNOOC to earn $10.32 per share next year, which means the company should continue to be able to cover its $7.53 annual dividend with an expected future payout ratio of 73.0%.

CEO stock traded up $1.12 during midday trading on Thursday, reaching $99.26. 225,898 shares of the company were exchanged, compared to its average volume of 192,997. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.14 and a current ratio of 2.21. CNOOC has a 1-year low of $81.11 and a 1-year high of $193.66. The stock’s 50-day simple moving average is $132.54 and its 200 day simple moving average is $150.90. The company has a market cap of $43.82 billion, a price-to-earnings ratio of 5.82, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09.

CEO has been the topic of a number of research analyst reports. UBS Group cut shares of CNOOC from a “buy” rating to a “neutral” rating in a report on Wednesday. Daiwa Capital Markets cut shares of CNOOC from an “outperform” rating to a “hold” rating in a report on Wednesday, February 26th. Cfra cut shares of CNOOC from a “strong-buy” rating to a “hold” rating and cut their price objective for the stock from $179.00 to $103.00 in a report on Thursday. Bank of America cut shares of CNOOC from a “buy” rating to a “neutral” rating in a report on Monday, March 9th. Finally, Citigroup cut shares of CNOOC from a “buy” rating to a “neutral” rating in a report on Wednesday, March 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $137.50.

CNOOC Company Profile

CNOOC Limited, an investment holding company, explores for, develops, produces, and sells crude oil, natural gas, and other petroleum products. It operates through Exploration and Production, and Trading Business segments. The company produces offshore crude oil and natural gas primarily in Bohai, Western South China Sea, Eastern South China Sea, and East China Sea in offshore China.

Further Reading: Fundamental Analysis and Choosing Stocks

Dividend History for CNOOC (NYSE:CEO)

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