CNOOC (CEO) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of CNOOC (NYSE:CEO) from a neutral rating to an overweight rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports.

Other equities research analysts have also recently issued reports about the company. Macquarie cut CNOOC from an outperform rating to a neutral rating in a research note on Friday, September 28th. UBS Group cut CNOOC from a buy rating to a neutral rating in a research note on Wednesday, October 3rd. Finally, Zacks Investment Research upgraded CNOOC from a sell rating to a buy rating and set a $210.00 target price for the company in a research note on Wednesday, September 26th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. CNOOC currently has a consensus rating of Buy and an average price target of $113.82.

NYSE CEO opened at $168.43 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.63 and a quick ratio of 2.52. CNOOC has a fifty-two week low of $132.62 and a fifty-two week high of $202.38. The firm has a market cap of $75.20 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 0.37 and a beta of 1.16.

Several large investors have recently made changes to their positions in CEO. Bank of Montreal Can increased its holdings in shares of CNOOC by 2.5% during the second quarter. Bank of Montreal Can now owns 35,862 shares of the oil and gas company’s stock worth $6,140,000 after buying an additional 862 shares in the last quarter. Aperio Group LLC increased its holdings in shares of CNOOC by 13.0% during the second quarter. Aperio Group LLC now owns 70,744 shares of the oil and gas company’s stock worth $12,114,000 after buying an additional 8,132 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of CNOOC during the second quarter worth $335,000. TD Asset Management Inc. increased its holdings in shares of CNOOC by 5.6% during the second quarter. TD Asset Management Inc. now owns 22,026 shares of the oil and gas company’s stock worth $3,772,000 after buying an additional 1,170 shares in the last quarter. Finally, Commonwealth Equity Services LLC acquired a new position in shares of CNOOC during the second quarter worth $282,000. Institutional investors own 1.91% of the company’s stock.

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: Cash Flow Analysis in Stock Selection

Analyst Recommendations for CNOOC (NYSE:CEO)

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