CNOOC’s Stock Price Dips to 19.08 HKD, Records a 1.14% Decrease: Is it Time to Buy?

CNOOC (883)

19.08 HKD -0.22 (-1.14%) Volume: 102.3M

CNOOC’s stock price stands at 19.08 HKD, experiencing a slight dip of -1.14% this trading session amidst a trading volume of 102.3M, yet showcasing a robust YTD increase of +48.77%, highlighting its strong market performance.

Latest developments on CNOOC

“CNOOC Ltd, China’s largest offshore oil and gas producer, experienced significant stock price movements today. This follows recent announcements of key oilfield discoveries and ambitious production targets, indicating a promising growth trajectory for the company. The stock market’s response reflects investor confidence in CNOOC’s strategic initiatives and its potential to drive future profitability. This trend is expected to continue as the global energy sector recovers, further boosting CNOOC’s market position.”

CNOOC on Smartkarma

On Smartkarma, an independent investment research network, top analysts have been publishing research on companies like CNOOC Ltd. According to analyst Travis Lundy, CNOOC Ltd has been underperforming this week, causing a slight 11bp drop in the Quiddity AH Pairs Portfolio. This is due to the company being the culprit in a big SB buy. However, there is good news for CNOOC Ltd as the A/H premium tracker shows that the company has been a net buyer since the end of Chinese New Year. The tracker also has tables, charts, and measures to track A/H premium positioning and volatility in pairs over time.

In another report by Travis Lundy, it is recommended to stay long on CNOOC Ltd as the A/H premia is still wide and can contract. The A/H premium tracker has tables, charts, and measures to track A/H premium positioning and volatility in pairs over time. The report also highlights that SOUTHBOUND flows have been flat/light while NORTHBOUND flows have been a significant net buy. This is good news for CNOOC Ltd as it has seen strong net buying as a percentage of volume, along with other high-div SOEs.

In the latest report by Travis Lundy, it is reported that SOUTHBOUND flows have been a strong HK$11.2bn net inflow, with both ETFs and high-div SOEs seeing big net inflows. However, CNOOC Ltd has been underperforming its A counterparts in the H/A pairs once again. Despite this, there is still good news for the company as it has seen strong net buying as a percentage of volume, along with China Mobile. Tech, on the other hand, has been sold.

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

The long-term outlook for CNOOC Ltd, a company that explores, develops, produces, and sells crude oil and natural gas, is looking promising according to Smartkarma Smart Scores. Based on a scale of 1-5, with 5 being the highest score, CNOOC Ltd scores a 2 in value, 3 in dividend, 3 in growth, 4 in resilience, and an impressive 5 in momentum. This indicates that the company is performing well in terms of its overall outlook and is on a positive trajectory for the future.

As a subsidiary of CNOOC Limited, a company with oil and gas assets in various regions such as Asia, Africa, North America, South America, and Oceania, CNOOC Ltd has a strong foundation for growth and success. With a focus on offshore China, specifically in the areas of Bohai, Western South China Sea, Eastern South China Sea, and East China Sea, the company is well-positioned for long-term success. Smartkarma Smart Scores show that CNOOC Ltd is performing well in terms of value, dividend, growth, resilience, and momentum, indicating a positive outlook for the company’s future.

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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