CNOOC’s Stock Price Soars to 22.40 HKD, Marking a Robust Increase of 2.99%

CNOOC (883)

22.40 HKD +0.65 (+2.99%) Volume: 92.79M

Boosted by a robust 72.31% YTD increase, CNOOC’s stock price stands at 22.40 HKD, marking a positive shift of 2.99% in the latest trading session with a substantial trading volume of 92.79M. CNOOC (883) continues to demonstrate strong stock market performance.

Latest developments on CNOOC

CNOOC Ltd has made significant strides in the energy sector with the successful on-streaming of the first green design oilfield in offshore China. This milestone achievement marks a major step forward for the company in its efforts to promote sustainable energy practices. Additionally, CNOOC Ltd has also announced the successful extraction of first oil from a field in the South China Sea, further boosting investor confidence and driving positive movements in the company’s stock price today.

CNOOC on Smartkarma

Analyst coverage of CNOOC Ltd on Smartkarma by Travis Lundy shows a bullish sentiment towards the company. In the research report titled “HK Connect SOUTHBOUND Flows (To 7 June 2024)”, it is noted that there was significant net buying on HK Connect by SOUTHBOUND, with expectations of CNOOC buying ahead of ex-dividend. The report also mentions that valuations are acceptable, flows are good, and policy changes may lead to continued inflows. Additionally, in the report “A/H Premium Tracker (To 8 Mar 2024)”, it is highlighted that CNOOC was a big buy, despite the wide spreads narrowing in the market.

Travis Lundy‘s analysis on CNOOC Ltd on Smartkarma emphasizes the importance of staying long on Hs versus As in the market. In the report “A/H Premium Tracker (To 5 Jan 2024)”, it is mentioned that A/H premia are still wide, with high-dividend SOEs moving in the market. The research report suggests that there is still time to go long on Hs versus As for the new year, especially with wide discounts being observed. The analysis provides insights into the market positioning, flows, and potential opportunities for investors interested in CNOOC Ltd.

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

Looking at the long-term outlook for CNOOC Ltd using Smartkarma Smart Scores, the company has received strong scores across various factors. With a high momentum score of 5, CNOOC Ltd shows promising signs of growth and potential in the future. Additionally, the company has scored well in resilience, indicating its ability to withstand market challenges and economic downturns. While the value score is moderate, the growth and dividend scores are also positive, reflecting a balanced performance across different aspects of the business.

CNOOC Limited, a company involved in the exploration, development, production, and sale of crude oil and natural gas, has a diversified portfolio with assets in various regions globally. With a focus on areas such as Bohai and the South China Sea, as well as international assets in Asia, Africa, North America, South America, and Oceania, the company has established a strong presence in the energy sector. The Smartkarma Smart Scores indicate a favorable outlook for CNOOC Ltd, highlighting its potential for growth and resilience in the long term.

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.
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