CNOOC (CEO) Raised to “Overweight” 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 released on Friday, Briefing.com Automated Import reports.

Other equities analysts also recently issued reports about the company. Zacks Investment Research raised CNOOC from a strong sell rating to a hold rating in a research note on Tuesday, March 12th. Goldman Sachs Group downgraded CNOOC from a conviction-buy rating to a buy rating in a research note on Tuesday, February 19th. Finally, UBS Group downgraded CNOOC from a buy rating to a neutral rating in a research note on Tuesday, April 2nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $202.00.

NYSE CEO opened at $172.11 on Friday. CNOOC has a 1-year low of $142.94 and a 1-year high of $202.38. The company has a market capitalization of $76.12 billion, a P/E ratio of 10.09, a PEG ratio of 1.18 and a beta of 1.06. The company has a quick ratio of 2.62, a current ratio of 2.71 and a debt-to-equity ratio of 0.32.

The business also recently declared a semiannual dividend, which will be paid on Wednesday, July 17th. Shareholders of record on Wednesday, June 5th will be given a dividend of $5.0955 per share. This is an increase from CNOOC’s previous semiannual dividend of $3.82. The ex-dividend date is Tuesday, June 4th. This represents a yield of 5.81%. CNOOC’s dividend payout ratio (DPR) is presently 40.09%.

A number of institutional investors have recently added to or reduced their stakes in CEO. Bank of New York Mellon Corp increased its position in CNOOC by 37.6% during the third quarter. Bank of New York Mellon Corp now owns 135,358 shares of the oil and gas company’s stock worth $26,739,000 after buying an additional 36,975 shares in the last quarter. BlackRock Inc. increased its position in CNOOC by 1,327.8% during the third quarter. BlackRock Inc. now owns 165,159 shares of the oil and gas company’s stock worth $32,625,000 after buying an additional 153,592 shares in the last quarter. Man Group plc purchased a new position in CNOOC during the third quarter worth $909,000. Morgan Stanley increased its position in CNOOC by 31.1% during the third quarter. Morgan Stanley now owns 27,850 shares of the oil and gas company’s stock worth $5,502,000 after buying an additional 6,599 shares in the last quarter. Finally, Federated Investors Inc. PA purchased a new position in CNOOC during the third quarter worth $5,986,000. 1.86% of the stock is owned by institutional investors.

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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