CNOOC Limited (CEO) Lifted to Buy at Goldman Sachs Group, Inc. (The)

CNOOC Limited (NYSE:CEO) was upgraded by equities researchers at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, August 8th, MarketBeat Ratings reports. The firm presently has a $131.00 price target on the oil and gas company’s stock. Goldman Sachs Group, Inc. (The)’s price target suggests a potential upside of 17.75% from the company’s current price.

Several other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of CNOOC Limited from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. HSBC Holdings plc upgraded shares of CNOOC Limited from a “hold” rating to a “buy” rating in a report on Monday, June 5th. BidaskClub upgraded shares of CNOOC Limited from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, J P Morgan Chase & Co upgraded shares of CNOOC Limited from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. CNOOC Limited presently has an average rating of “Buy” and a consensus price target of $131.00.

Shares of CNOOC Limited (NYSE CEO) traded up 0.82% during trading on Tuesday, hitting $111.25. 71,450 shares of the company traded hands. CNOOC Limited has a one year low of $108.05 and a one year high of $138.36. The stock has a market cap of $49.67 billion, a price-to-earnings ratio of 1112.50 and a beta of 0.76. The firm has a 50 day moving average price of $111.25 and a 200-day moving average price of $115.58.

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Several institutional investors have recently added to or reduced their stakes in CEO. Ronald Blue & Co. LLC raised its position in CNOOC Limited by 1.3% in the first quarter. Ronald Blue & Co. LLC now owns 1,737 shares of the oil and gas company’s stock worth $208,000 after buying an additional 22 shares in the last quarter. Checchi Capital Advisers LLC raised its position in shares of CNOOC Limited by 1.1% in the first quarter. Checchi Capital Advisers LLC now owns 2,266 shares of the oil and gas company’s stock worth $271,000 after buying an additional 24 shares during the period. Cadence Capital Management LLC raised its position in shares of CNOOC Limited by 0.7% in the second quarter. Cadence Capital Management LLC now owns 3,571 shares of the oil and gas company’s stock worth $391,000 after buying an additional 24 shares during the period. US Bancorp DE raised its position in shares of CNOOC Limited by 0.9% in the second quarter. US Bancorp DE now owns 4,376 shares of the oil and gas company’s stock worth $479,000 after buying an additional 38 shares during the period. Finally, Neuberger Berman Group LLC raised its position in shares of CNOOC Limited by 2.1% in the first quarter. Neuberger Berman Group LLC now owns 3,015 shares of the oil and gas company’s stock worth $361,000 after buying an additional 63 shares during the period. 1.65% of the stock is currently owned by institutional investors.

About CNOOC Limited

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.

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