CNOOC (CEO) Downgraded by Macquarie to Neutral

CNOOC (NYSE:CEO) was downgraded by equities research analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports.

Several other analysts also recently commented on CEO. CLSA raised shares of CNOOC from a “sell” rating to an “outperform” rating in a research report on Friday, September 29th. Zacks Investment Research raised shares of 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. Finally, Nomura began coverage on shares of CNOOC in a research report on Thursday, December 7th. They set a “top pick” rating and a $13.64 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $99.55.

Shares of CNOOC (NYSE CEO) traded up $4.00 during mid-day trading on Tuesday, hitting $161.25. 150,204 shares of the stock traded hands, compared to its average volume of 88,058. CNOOC has a one year low of $108.05 and a one year high of $161.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.82 and a quick ratio of 1.71.

Several institutional investors and hedge funds have recently modified their holdings of CEO. Renaissance Technologies LLC lifted its holdings in shares of CNOOC by 67.4% in the 2nd quarter. Renaissance Technologies LLC now owns 291,400 shares of the oil and gas company’s stock worth $31,882,000 after purchasing an additional 117,300 shares in the last quarter. Harding Loevner LP lifted its holdings in shares of CNOOC by 1.4% in the 2nd quarter. Harding Loevner LP now owns 2,194,472 shares of the oil and gas company’s stock worth $240,097,000 after purchasing an additional 30,450 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of CNOOC in the 3rd quarter worth $3,199,000. Sei Investments Co. lifted its holdings in shares of CNOOC by 72.4% in the 3rd quarter. Sei Investments Co. now owns 52,433 shares of the oil and gas company’s stock worth $6,803,000 after purchasing an additional 22,021 shares in the last quarter. Finally, OxFORD Asset Management LLP bought a new position in shares of CNOOC in the 3rd quarter worth $2,271,000. Institutional investors own 1.64% of the company’s stock.

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CNOOC Company Profile

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)

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