Research analysts at The Goldman Sachs Group started coverage on shares of CNOOC (NYSE:CEO) in a research report issued to clients and investors on Sunday, The Fly reports. The brokerage set a “buy” rating on the oil and gas company’s stock.
Separately, Credit Suisse Group upgraded CNOOC from an “underperform” rating to an “outperform” rating in a report on Wednesday, August 19th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $118.00.
CEO stock opened at $115.05 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.00 and a quick ratio of 1.93. The stock has a market capitalization of $51.37 billion, a P/E ratio of 5.85, a P/E/G ratio of 2.06 and a beta of 1.17. The business has a 50-day moving average of $98.91 and a 200-day moving average of $108.44. CNOOC has a fifty-two week low of $81.11 and a fifty-two week high of $181.13.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CEO. Harel Insurance Investments & Financial Services Ltd. bought a new stake in CNOOC during the third quarter worth about $25,000. Pacer Advisors Inc. raised its stake in CNOOC by 102.4% in the third quarter. Pacer Advisors Inc. now owns 338 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 171 shares during the period. Private Advisor Group LLC bought a new stake in CNOOC in the second quarter valued at approximately $34,000. Eudaimonia Partners LLC bought a new stake in CNOOC in the third quarter valued at approximately $48,000. Finally, Cornerstone Advisors Inc. raised its stake in CNOOC by 219.2% in the second quarter. Cornerstone Advisors Inc. now owns 533 shares of the oil and gas company’s stock valued at $60,000 after buying an additional 366 shares during the period. Institutional investors and hedge funds own 1.35% of the company’s stock.
CNOOC Company Profile
CNOOC Limited, an investment holding company, explores for, develops, produces, and sells crude oil and natural gas in offshore China, Canada, the United States, the United Kingdom, Nigeria, Argentina, Indonesia, Uganda, Iraq, Brazil, Guyana, Russia, Australia, and internationally. The company operates through three segments: E&P, Trading Business, and Corporate.
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