CNOOC’s Stock Price Slips to 21.20 HKD, Declining by 0.47%: A Brief Look into Market Performance

CNOOC (883)

21.20 HKD -0.10 (-0.47%) Volume: 91.8M

Discover CNOOC’s stock price performance, currently trading at 21.20 HKD, experiencing a slight drop of -0.47% this session with a trading volume of 91.8M, yet boasting a remarkable YTD increase of +63.08%, illustrating its strong market presence and promising potential for investors.

Latest developments on CNOOC

CNOOC Ltd has reported record high interim profits in its 2024 interim results, with a significant boost in net profit as a result of robust output growth. The company has declared a record high interim dividend, reflecting its strong performance in the first half of the year. The higher first-half profit was driven by an increase in oil drilling activities, further contributing to the positive stock price movements today.

CNOOC on Smartkarma

Analysts on Smartkarma, such as Travis Lundy, have been providing bullish coverage on CNOOC Ltd, a company in the energy sector. According to Lundy’s research reports, there has been significant net buying on HK Connect by SOUTHBOUND investors, with a focus on companies like CNOOC ahead of dividend ex-dates. The analyst notes that valuations are acceptable, flows are positive, and policy changes may continue to drive inflows into the company.

In another report by Travis Lundy on Smartkarma, the A/H Premium Tracker shows that CNOOC Ltd has been a significant contributor to the performance of the Quiddity AH Pairs Portfolio. Despite some fluctuations, analysts remain optimistic about the company’s positioning in the market. SOUTHBOUND investors have been consistently buying into CNOOC Ltd, while NORTHBOUND investors have been selling. Overall, the research indicates that wide spreads are narrowing, which could be a positive sign for the company’s performance in the future.

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 Smartkarma Smart Scores for CNOOC Ltd, the company shows promising long-term potential. With strong scores in Growth, Resilience, and Momentum, CNOOC Ltd seems to be on a positive trajectory for the future. The company’s focus on exploring, developing, and selling crude oil and natural gas both domestically and internationally positions them well in the energy sector.

CNOOC Ltd‘s Smart Scores indicate that the company is performing well in terms of growth opportunities, financial stability, and market momentum. While there is room for improvement in areas such as Value and Dividend, the overall outlook for CNOOC Ltd appears to be favorable. With a diverse portfolio of oil and gas assets across various regions, CNOOC Ltd is poised to continue its success in the industry.

### CNOOC Limited, through its subsidiaries, explores, develops, produces, and sells crude oil and natural gas. The Company focuses in the areas such as Bohai, Western South China Sea, Eastern South China Sea and East China Sea in offshore China. Internationally, the Group has oil and gas assets in Asia, Africa, North America, South America, and Oceania. ###

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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