The stock of CNOOC Ltd (ADR) (NYSE:CEO) is a huge mover today! About 112,795 shares traded hands or 4.89% up from the average. CNOOC Ltd (ADR) (NYSE:CEO) has declined 3.12% since April 27, 2016 and is downtrending. It has underperformed by 8.34% the S&P500.
The move comes after 7 months positive chart setup for the $59.32B company. It was reported on Nov, 30 by Barchart.com. We have $138.17 PT which if reached, will make NYSE:CEO worth $2.37B more.
CNOOC Ltd (ADR) (NYSE:CEO) Ratings Coverage
Out of 9 analysts covering CNOOC (NYSE:CEO), 5 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 56% are positive. CNOOC has been the topic of 11 analyst reports since August 24, 2015 according to StockzIntelligence Inc. As per Tuesday, September 29, the company rating was upgraded by Jefferies. The company was maintained on Monday, August 24 by Barclays Capital. The firm has “Buy” rating by Nomura given on Wednesday, May 18. Bank of America maintained the shares of CEO in a report on Thursday, August 27 with “Neutral” rating. The rating was upgraded by Credit Suisse to “Neutral” on Thursday, August 27. The firm has “Buy” rating by Bank of America given on Monday, August 31. BOCOM International upgraded the stock to “Buy” rating in Tuesday, June 21 report. As per Tuesday, May 17, the company rating was upgraded by Mizuho. On Tuesday, December 8 the stock rating was downgraded by Credit Agricole to “Sell”. As per Tuesday, May 10, the company rating was downgraded by Morgan Stanley.
According to Zacks Investment Research, “Cnooc Limited is a company that engages primarily in the exploration, development and production of crude oil and natural gas offshore China. We are the dominant producer of crude oil and natural gas and the only company permitted to conduct exploration and production activities with international oil and gas companies offshore China.”
More important recent CNOOC Ltd (ADR) (NYSE:CEO) news were published by: Marketwatch.com which released: “Plus the latest data from Realtor.com on 21 home markets across the US” on September 13, 2010, also Bidnessetc.com published article titled: “Why CNOOC Ltd (ADR) (CEO) Nexen Slashed Workforce By 13%”, Bidnessetc.com published: “China Ushers In Leadership Change At State-Run CNOOC Ltd (ADR), Sinopec and CNPC” on May 04, 2015. More interesting news about CNOOC Ltd (ADR) (NYSE:CEO) was released by: Bidnessetc.com and their article: “Petrobras: CNOOC Ltd Shows Interest to Purchase Braskem Stake” with publication date: March 14, 2016.
CEO Company Profile
CNOOC Limited, incorporated on August 20, 1999, is a holding company. The Firm is an upstream firm engaged in the exploration, development and production of oil and natural gas. The Firm operates through three divisions: exploration and production, trading business and corporate. The Firm is engaged in the upstream operating activities of the conventional gas and oil, shale gas and oil, oil sands and other unconventional gas and oil business. In offshore China, the Company engages in oil and natural gas exploration, development and production in Bohai, Western South China Sea, Eastern South China Sea and East China Sea, either independently or in cooperation with foreign partners through production sharing contracts (PSCs). The Firm also holds interests in oil and natural gas blocks in Indonesia, Australia, Nigeria, Uganda, Argentina, the United States, Canada, the United Kingdom, Brazil and various other countries.
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