Macquarie Upgrades CNOOC (NYSE:CEO) to “Outperform”

Macquarie upgraded shares of CNOOC (NYSE:CEO) from a neutral rating to an outperform rating in a research note published on Monday, February 12th, MarketBeat reports.

CEO has been the topic of a number of other research reports. Zacks Investment Research raised CNOOC from a hold rating to a strong-buy rating and set a $154.00 price target on the stock in a report on Tuesday, October 31st. JPMorgan Chase & Co. lowered CNOOC from an overweight rating to a neutral rating in a report on Tuesday, January 16th. Nomura initiated coverage on CNOOC in a report on Thursday, December 7th. They set a top pick rating and a $13.64 price target on the stock. UBS Group lowered CNOOC from a buy rating to a neutral rating in a report on Wednesday, January 17th. Finally, Bank of America raised CNOOC from a neutral rating to a buy rating in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. CNOOC has a consensus rating of Buy and an average price target of $99.55.

CNOOC (NYSE CEO) opened at $147.28 on Monday. CNOOC has a twelve month low of $108.05 and a twelve month high of $166.23. The company has a current ratio of 1.82, a quick ratio of 1.71 and a debt-to-equity ratio of 0.32.

Several institutional investors have recently modified their holdings of CEO. BlackRock Inc. raised its position in shares of CNOOC by 93.1% during the 4th quarter. BlackRock Inc. now owns 392,753 shares of the oil and gas company’s stock worth $56,382,000 after purchasing an additional 189,363 shares during the last quarter. Renaissance Group LLC acquired a new position in shares of CNOOC during the 4th quarter worth approximately $15,715,000. Renaissance Technologies LLC raised its holdings in CNOOC by 21.0% in the 4th quarter. Renaissance Technologies LLC now owns 505,000 shares of the oil and gas company’s stock valued at $72,498,000 after acquiring an additional 87,600 shares during the last quarter. Wells Fargo & Company MN raised its holdings in CNOOC by 383.4% in the 4th quarter. Wells Fargo & Company MN now owns 105,436 shares of the oil and gas company’s stock valued at $15,136,000 after acquiring an additional 83,623 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new position in CNOOC in the 3rd quarter valued at $3,199,000. Hedge funds and other institutional investors own 1.72% of the company’s stock.

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About CNOOC

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 (NYSE:CEO)

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