CNOOC’s Stock Price Plummets to 15.64 HKD, Experiencing a Steep Drop of 15.18%

CNOOC (883)

15.64 HKD -2.80 (-15.18%) Volume: 480.82M

Explore CNOOC’s stock price performance, currently at 15.64 HKD, experiencing a sharp decline of -15.18% this trading session, with a high trading volume of 480.82M. Its year-to-date change remains negative at -16.00%, indicating a challenging investment landscape.

Latest developments on CNOOC

Today, CNOOC Ltd stock price experienced significant movements following a series of key events. The Chinese oil giant reported a decrease in profits for the first half of the year, attributing it to lower oil prices and weakened demand due to the ongoing global pandemic. Additionally, tensions between the US and China have escalated, with the US imposing sanctions on CNOOC Ltd for its involvement in South China Sea activities. These factors have contributed to the volatility in CNOOC Ltd stock price, as investors react to the uncertainty surrounding the company’s future prospects.

A look at CNOOC Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on the Smartkarma Smart Scores, CNOOC Ltd has a positive long-term outlook. With high scores in Dividend, Growth, Resilience, and Momentum, the company is positioned well for future success. This indicates that CNOOC Ltd is not only performing well currently but also has the potential for continued growth and stability in the coming years.

CNOOC Limited, a company that explores, develops, and sells crude oil and natural gas, has a strong presence in various regions both in offshore China and internationally. With a focus on areas like Bohai and the South China Sea, as well as assets in Asia, Africa, North America, South America, and Oceania, CNOOC Ltd is well-diversified and poised for continued success in the global energy market.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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