CNOOC (NYSE:CEO) Upgraded to Hold by Zacks Investment Research

CNOOC (NYSE:CEO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “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. “

Several other research firms have also recently weighed in on CEO. CICC Research upgraded CNOOC from a “neutral” rating to an “outperform” rating in a report on Monday, July 22nd. Macquarie upgraded CNOOC from a “neutral” rating to an “outperform” rating in a report on Thursday, June 6th. JPMorgan Chase & Co. upgraded CNOOC from a “neutral” rating to an “overweight” rating in a report on Friday, May 17th. Finally, Daiwa Capital Markets cut CNOOC from an “outperform” rating to a “neutral” rating in a report on Wednesday, July 17th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. CNOOC has an average rating of “Buy” and an average price target of $202.00.

NYSE CEO traded up $2.33 during trading on Tuesday, hitting $151.06. 135,743 shares of the stock traded hands, compared to its average volume of 86,309. The firm has a market capitalization of $65.36 billion, a P/E ratio of 8.85, a P/E/G ratio of 1.17 and a beta of 1.09. The company has a 50-day moving average of $165.35. The company has a quick ratio of 2.62, a current ratio of 2.71 and a debt-to-equity ratio of 0.32. CNOOC has a 12-month low of $142.94 and a 12-month high of $202.38.

Several institutional investors have recently made changes to their positions in the company. LPL Financial LLC boosted its holdings in shares of CNOOC by 4.0% in the 2nd quarter. LPL Financial LLC now owns 2,012 shares of the oil and gas company’s stock worth $343,000 after purchasing an additional 77 shares during the period. Portland Global Advisors LLC boosted its holdings in shares of CNOOC by 0.7% in the 2nd quarter. Portland Global Advisors LLC now owns 12,476 shares of the oil and gas company’s stock worth $2,125,000 after purchasing an additional 91 shares during the period. TD Asset Management Inc. boosted its holdings in shares of CNOOC by 0.4% in the 1st quarter. TD Asset Management Inc. now owns 22,213 shares of the oil and gas company’s stock worth $4,126,000 after purchasing an additional 99 shares during the period. We Are One Seven LLC boosted its holdings in shares of CNOOC by 5.8% in the 2nd quarter. We Are One Seven LLC now owns 2,052 shares of the oil and gas company’s stock worth $349,000 after purchasing an additional 113 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of CNOOC by 1.1% in the 2nd quarter. Fisher Asset Management LLC now owns 15,469 shares of the oil and gas company’s stock worth $2,635,000 after purchasing an additional 165 shares during the period. Hedge funds and other institutional investors own 1.96% 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.

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Analyst Recommendations for CNOOC (NYSE:CEO)

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