CNOOC Ltd (NYSE:CEO) Receives Consensus Rating of “Buy” from Brokerages

Shares of CNOOC Ltd (NYSE:CEO) have earned a consensus recommendation of “Buy” from the seven ratings firms that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company.

CEO has been the topic of a number of recent analyst reports. Daiwa Capital Markets downgraded shares of CNOOC from an “outperform” rating to a “neutral” rating in a report on Wednesday, July 17th. CICC Research raised shares of CNOOC from a “neutral” rating to an “outperform” rating in a report on Monday, July 22nd. Zacks Investment Research raised shares of CNOOC from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. Macquarie raised shares of CNOOC from a “neutral” rating to an “outperform” rating in a report on Thursday, June 6th. Finally, JPMorgan Chase & Co. raised shares of CNOOC from a “neutral” rating to an “overweight” rating in a report on Friday, May 17th.

Shares of NYSE CEO opened at $141.46 on Friday. The company’s fifty day moving average price is $160.07 and its 200 day moving average price is $170.38. CNOOC has a 1 year low of $141.43 and a 1 year high of $202.38. The company has a market capitalization of $65.05 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 1.12 and a beta of 1.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.62 and a current ratio of 2.71.



Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its holdings in CNOOC by 1.7% during the second quarter. Renaissance Technologies LLC now owns 711,600 shares of the oil and gas company’s stock valued at $121,221,000 after purchasing an additional 11,800 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in CNOOC by 1,748.7% during the first quarter. Lazard Asset Management LLC now owns 444,512 shares of the oil and gas company’s stock valued at $82,571,000 after purchasing an additional 420,467 shares in the last quarter. Oaktree Capital Management LP lifted its holdings in CNOOC by 0.8% during the second quarter. Oaktree Capital Management LP now owns 346,997 shares of the oil and gas company’s stock valued at $59,112,000 after purchasing an additional 2,616 shares in the last quarter. Pendal Group Ltd lifted its holdings in CNOOC by 25.1% during the second quarter. Pendal Group Ltd now owns 343,576 shares of the oil and gas company’s stock valued at $61,457,000 after purchasing an additional 68,888 shares in the last quarter. Finally, Todd Asset Management LLC lifted its holdings in CNOOC by 3.0% during the first quarter. Todd Asset Management LLC now owns 187,776 shares of the oil and gas company’s stock valued at $34,881,000 after purchasing an additional 5,492 shares in the last quarter. 1.92% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for CNOOC (NYSE:CEO)

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