CNOOC Limited (CEO) Stock Rating Lowered by BidaskClub

CNOOC Limited (NYSE:CEO) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Thursday.

A number of other brokerages have also issued reports on CEO. Zacks Investment Research raised CNOOC Limited from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. J P Morgan Chase & Co raised CNOOC Limited from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 5th. Goldman Sachs Group, Inc. (The) raised CNOOC Limited from a “neutral” rating to a “buy” rating and set a $131.00 price objective for the company in a report on Tuesday, August 8th. Finally, HSBC Holdings plc raised CNOOC Limited from a “hold” rating to a “buy” rating in a report on Monday, June 5th. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $131.00.

CNOOC Limited (CEO) opened at 109.68 on Thursday. The company’s 50-day moving average price is $111.17 and its 200-day moving average price is $115.72. CNOOC Limited has a 1-year low of $108.05 and a 1-year high of $138.36. The stock has a market cap of $48.97 billion, a P/E ratio of 1096.80 and a beta of 0.76.

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A number of institutional investors have recently modified their holdings of CEO. Sit Investment Associates Inc. raised its position in shares of CNOOC Limited by 34.0% in the first quarter. Sit Investment Associates Inc. now owns 1,675 shares of the oil and gas company’s stock worth $201,000 after buying an additional 425 shares during the last quarter. Ronald Blue & Co. LLC raised its position in shares of CNOOC Limited by 1.3% in the first quarter. Ronald Blue & Co. LLC now owns 1,737 shares of the oil and gas company’s stock worth $208,000 after buying an additional 22 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of CNOOC Limited by 6.2% in the first quarter. Parametric Portfolio Associates LLC now owns 123,071 shares of the oil and gas company’s stock worth $14,744,000 after buying an additional 7,169 shares during the last quarter. Eqis Capital Management Inc. raised its position in shares of CNOOC Limited by 5.7% in the first quarter. Eqis Capital Management Inc. now owns 3,873 shares of the oil and gas company’s stock worth $464,000 after buying an additional 209 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of CNOOC Limited by 1.1% in the first quarter. Lazard Asset Management LLC now owns 26,127 shares of the oil and gas company’s stock worth $3,129,000 after buying an additional 276 shares during the last quarter. 1.65% of the stock is owned by hedge funds and other institutional investors.

About CNOOC Limited

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 Limited (NYSE:CEO)

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