CNOOC Ltd (CEO) Receives Average Recommendation of “Buy” from Brokerages

Shares of CNOOC Ltd (NYSE:CEO) have received a consensus recommendation of “Buy” from the six research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $13.64.

CEO has been the subject of a number of analyst reports. UBS Group upgraded CNOOC from a “neutral” rating to a “buy” rating in a research note on Friday, November 16th. Zacks Investment Research upgraded CNOOC from a “hold” rating to a “buy” rating and set a $214.00 price target for the company in a research note on Wednesday, October 17th. Macquarie downgraded CNOOC from an “outperform” rating to a “neutral” rating in a research note on Friday, September 28th. Finally, JPMorgan Chase & Co. upgraded CNOOC from a “neutral” rating to an “overweight” rating in a research note on Thursday.

Several hedge funds and other institutional investors have recently made changes to their positions in CEO. Icon Wealth Partners LLC purchased a new position in shares of CNOOC in the 2nd quarter worth approximately $100,000. Csenge Advisory Group purchased a new position in shares of CNOOC in the 3rd quarter worth approximately $135,000. Fiera Capital Corp purchased a new position in shares of CNOOC in the 2nd quarter worth approximately $211,000. Greenleaf Trust purchased a new position in shares of CNOOC in the 2nd quarter worth approximately $214,000. Finally, Vicus Capital purchased a new position in shares of CNOOC in the 2nd quarter worth approximately $219,000. Hedge funds and other institutional investors own 1.90% of the company’s stock.

CEO stock traded up $5.29 during mid-day trading on Monday, reaching $173.72. 94,124 shares of the company traded hands, compared to its average volume of 134,247. The company has a market capitalization of $75.20 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 0.37 and a beta of 1.17. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.52 and a current ratio of 2.63. CNOOC has a fifty-two week low of $132.62 and a fifty-two week high of $202.38.

About CNOOC

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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